State Of New Jersey Division Of Taxation
Property Administration
The Realty Transfer Fee is imposed upon the recording of deeds evidencing transfers of title to real property in the State of New Jersey. The Fee is required to be paid upon the recording of deeds conveying title to real property in New Jersey. The Realty Transfer Fee is calculated based on the amount of consideration recited in the deed or, in certain instances, the assessed valuation of the property conveyed divided by the Director’s Ratio. Payment of the Fee is a prerequisite for recording the deed. The R.T.F. is usually collected at the real estate closing by the legal representatives or title insurance agents responsible for recording the deed at the county registry offices. The Realty Transfer Fee replaced the expiring Federal Documentary Tax in 1968. The State of New Jersey and New Jersey’s twenty-one counties share Realty Transfer Fee proceeds. TheCounty Treasurer’s Office remits Realty Transfer Fee revenues to the State Treasurer on the tenth day following the month of collection, using the official form RTF-2 that the Director of the Division of Taxation has prescribed. Property Administration personnel respond to questions on a daily basis that taxpayers, county recording officers, and title agencies ask about the Realty Transfer Fee, and how the Fee applies to individual transfers of real property.
In New Jersey the current Realty Transfer Fee rates on standard transactions and on “new construction” is:
FEE IMPOSED ON SELLER
TOTAL CONSIDERATION NOT IN EXCESS OF $350,000
- $2.00/$500 of consideration not in excess of $150,000;
- $3.35/$500 of consideration in excess of $150,000 but not in excess of $200,000;
- $3.90/$500 of consideration in excess of $200,000 but not in excess of $350,000.
TOTAL CONSIDERATION IN EXCESS OF $350,000
- $2.90/$500 of consideration not in excess of $150,000;
- $4.25/$500 of consideration in excess of $150,000 but not in excess of $200,000;
- $4.80/$500 of consideration in excess of $200,000 but not in excess of $550,000;
- $5.30/$500 of consideration in excess of $550,000 but not in excess of $850,000;
- $5.80/$500 of consideration in excess of $850,000 but not in excess of $1,000,000;
- $6.05/$500 of consideration in excess of $1,000,000.
