NJ ‘mansion tax’ rates increase under new bill, paid by sellers!

In this episode of Brach Eichler Talks, Real Estate attorneys Allen J. Popowitz and Jeffrey H. Itzkowitz break down New Jersey’s newly amended “mansion tax” law, signed into effect on June 30, 2025. The new law, which shifts the tax burden from buyers to sellers and introduces a tiered tax rate, significantly impacts certain residential and commercial property transactions beginning July 10. Tune in to learn how the law applies to Class 2, 3A, 4A, and cooperative property sales, and what buyers and sellers need to know about compliance, exceptions, and potential refunds.

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📲 Read the full article now at https://www.bracheichler.com/insights/nj-mansion-tax-rates-increase-under-new-bill-paid-by-sellers/

If you believe or question whether your transaction will be affected by this new law, please contact:

Allen J. Popowitz, Esq., Member and Chair, Real Estate Practice at 973-403-3134 or apopowitz@bracheichler.com

Jeffrey H. Itzkowitz, Esq., Member, Real Estate Practice at 973-403-3158 or jitzkowitz@bracheichler.com

*This is intended to provide general information, not legal advice. Please contact the authors if you need specific advice.