06/30/2025
By end of today, Governor Murphy will be expected to sign the 2025-2026 Budget. His previously proposed Mansion Tax increase which would have affected buyers in the state of NJ, was updated and accepted by our Legislation and changed to apply to the Seller. This is how it will affect New Jersey homeowners. Although it is expected to be signed, there is still time to reach out to the Governor to be heard.
https://www.nj.gov/governor/contact/**
And note, this is in addition to the current 1% Transfer tax and Capital Gains tax you will pay to sell your home!