The New Jersey Home Sales Tax
The Realty Transfer fee is a state imposed fee that began in 1968 as a nominal charge for tracking real estate transactions. It has increased dramatically in the last several years, especially due to the phenomenal real estate buying explosion we've had from 2003 - 2005.
The NJ Homes Sales Tax aka Realty Transfer fee has increased on an average home in our lovely garden state about 80%.
THE NJ STATE LEGISLATURE IS CONSIDERING FURTHER INCREASES BY PERMITTING MUNICIPALITIES TO ESTABLISH THEIR OWN FEES IN ADDITION TO THE ALREADY IMPOSED STATE FEES.