New Jersey Enacts Major Changes to Mansion Tax and Controlling Interest Transfer Tax
On June 30, 2025, Governor Murphy signed into law bill A5804/S4666 which amends the state’s supplemental realty transfer fee (“Mansion Tax”) and Controlling Interest Transfer Tax (“CITT”). The Mansion Tax was previously a 1% fee imposed on the buyer of residential and certain commercial property valued over $1 million. Under the amended law, the burden...
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