{"id":5777,"date":"2025-07-07T15:07:54","date_gmt":"2025-07-07T19:07:54","guid":{"rendered":"https:\/\/www.lindabury.com\/firm\/?p=5777"},"modified":"2025-07-15T16:50:58","modified_gmt":"2025-07-15T20:50:58","slug":"new-jerseys-mansion-tax-critical-updates-for-high-value-real-estate-transactions","status":"publish","type":"post","link":"https:\/\/www.lindabury.com\/firm\/insights\/new-jerseys-mansion-tax-critical-updates-for-high-value-real-estate-transactions.html","title":{"rendered":"New Jersey’s “Mansion Tax” – Critical Updates for High-Value Real Estate Transactions"},"content":{"rendered":"

On June 30, 2025, Governor Phil Murphy signed Assembly Bill A5804 (S4666), significantly revising New Jersey’s \u201cmansion tax\u201d with major implications for high-valued real estate transactions. Adopted in 2004, the \u201cmansion tax\u201d imposed a tax equal to 1% of the purchase price of all residential property, and of many types of commercial property, valued at $1 million or more. This newly enacted amendment shifts the tax payment obligation from buyers to sellers and introduces new progressive rates for properties sold over $2 million.<\/p>\n

Key Changes Effective July 10th, 2025:<\/strong><\/p>\n

The most significant change is the shift of the “mansion tax” payment responsibility from the buyer to the seller. This tax applies to residential property, many commercial and farm properties, and cooperative units. The traditional Realty Transfer Fee remains in place and continues to be seller-paid.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

On June 30, 2025, Governor Phil Murphy signed Assembly Bill A5804 (S4666), significantly revising New Jersey’s \u201cmansion tax\u201d with major implications for high-valued real estate transactions. Adopted in 2004, the \u201cmansion tax\u201d imposed a tax equal to 1% of the purchase price of all residential property, and of many types of commercial property, valued at […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[65,112,249,72],"tags":[],"coauthors":[205,201],"class_list":["post-5777","post","type-post","status-publish","format-standard","hentry","category-insights","category-vir","category-real-estate-land-use-zoning-insights","category-burney"],"acf":[],"yoast_head":"\nNew Jersey's "Mansion Tax" - Critical Updates for High-Value Real Estate Transactions — July 7, 2025 — Lindabury, McCormick, Estabrook & Cooper, P.C. Firm News & Events<\/title>\n<meta name=\"description\" content=\"On June 30, 2025, Governor Phil Murphy signed Assembly Bill A5804 (S4666), significantly revising New Jersey's \u201cmansion tax\u201d with major implications for\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lindabury.com\/firm\/insights\/new-jerseys-mansion-tax-critical-updates-for-high-value-real-estate-transactions.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Jersey's "Mansion Tax" - Critical Updates for High-Value Real Estate Transactions — July 7, 2025 — Lindabury, McCormick, Estabrook & Cooper, P.C. 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