Bill > S114

Introduced Session

This bill eliminates the supplemental realty transfer fee imposed by P.L.2003, c.113, which took effect on July 14, 2003. The supplemental fee has a graduated structure. It is $0.25 for each $500 of the selling price not in excess of $150,000, $0.85 for each $500 of the selling price in excess of $150,000 but not in excess of $200,000, and $1.40 for each $500 of the selling price in excess of $200,000. Counties retain $0.25 of for each $500 of the selling price and remit the remainder to the State. The supplemental fee also includes an additional fee of $1.00 for each $500 of the selling price not in excess of $150,000 that is exempt from $1.00 of the basic fee as "new construction". The State receives all of the proceeds.

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Jim Holzapfel (R)*,  Vince Polistina (R),  Jean Stanfield (R), 

Senate Community and Urban Affairs Hearing (10:00 1/27/2022 Committee Room 6, 1st Floor, State House Annex, Trenton, NJ) (on 01/27/2022)

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