closing

Mansion Tax (Graduated Percent Fee, New Jersey)

New Jersey's supplemental fee on residential and certain commercial transfers over $1 million, applied to the entire consideration. For deeds recorded on or after July 10, 2025, it is paid by the seller (it was formerly a 1% buyer obligation) and is graduated: 1% over $1 million to $2 million, 2% to $2.5 million, 2.5% to $3 million, 3% to $3.5 million and 3.5% above $3.5 million. It is in addition to the base realty transfer fee.