Below you will find some FAQ’s about the NJ Home Sales Tax (courtesy of NJHomeTax.com):
Why is the Home Sales Tax Bad for New Jersey?
The home sales tax erodes equity that homeowners have built up in their homes over the years. It ratchets up closing costs and overall home prices, creating far-reaching effects that literally rip away the “American Dream” of homeownership for too many deserving New Jersey families. Get the Facts.
What Is The New Jersey Home Sales Tax?
The New Jersey Home Sales Tax is officially known as the Realty Transfer Fee (RTF). We call it a “tax” because that is what this once insignificant charge has turned into after nearly 40 years of steady increases. Home sellers pay the tax, which is based on a home’s sales price. This state-imposed fee was established in 1968 to offset the costs of tracking real estate transactions. During the years since, the RTF was increased numerous times, impacting home sales negatively throughout the Garden State, as well as the overall economy. Get the Facts.
Is your legislator opposed to a local home sales tax?
Click here to view a list of New Jersey senators and assembly representatives who have pledged to oppose legislation that increases or expands the realty transfer fee.
Are you opposed to paying a municipal home sales tax in addition to the state sales tax we already pay? If so, please visit www.NJHomeTax.com and sign the petition to let your state legislator how you feel!
To learn more about Bradley Beach NJ real estate, please visit PatrickParkerHomes.com or call me at 732-775-2774 for more personalized service. You may also request free Bradley Beach NJ real estate reports by clicking here!