Julia Morrill

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New Jersey Realty Transfer Fee

What is the Realty Transfer Fee?

The Realty Transfer Fee (RTF) was established in 1968. The purpose of the fee was to assist in tracking the transfer of title to real property. The RTF was increased in 1975, 1985, 2003, 2004 and a proposed increase is scheduled for 2005.

Where does my RTF go?

Monies collected from the RTF go both to the county and to the state. A small portion of money collected from the RTF is used for neighborhood revitalization, shore protection and other environmental projects. The remaining hundreds of millions of dollars are allocated to the state’s general fund.

How does this affect me?

SELLING A HOME: As a seller of real property, you will be responsible for paying the higher RTF. The chart below details how much a seller owes for the transfer of real property.

BUYING A HOME:With an increase in the RTF, many sellers of real property will adjust the price accordingly. This increase has the potential of requiring a buyer to obtain a higher mortgage to cover the cost.

How much is the Realty Transfer Fee?

Below is a chart with samples of the recent RTF increases and what is being proposed for 2005.

Home Sale Price

2002 RTF

2003 RTF

2004 RTF

Proposed 2005 RTF

Amt. Inc. ‘02 to ‘05

% Change ‘02 to ‘05

$175,000

$650

$768

$768

$1,038

$388

60%

$275,000

$1,150

$1,520

$1,520

$1,963

$813

71%

$375,000

$1,650

$2,300

$2,975

$2,975

$1,325

80%

$500,000

$2,275

$3,275

$4,175

$4,175

$1,900

84%

$650,000

$3,025

$4,445

$5,715

$5,715

$2,960

89%

$800,000

$3,775

$5,615

$7,305

$7,305

$3,530

94%

$915,000

$4,350

$6,512

$8,589

$8,589

$4,239

97%

$1,300,000

$6,275

$9,515

$13,205*

$13,205*

$6,930

110%

*Does not include 1% fee paid by the buyer of residential property over one million dollars.