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Major Changes to New Jersey’s Mansion Tax—What You Need to Know - Title Insurance Company NJ
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Major Changes to New Jersey’s Mansion Tax—What You Need to Know

03 Jul Major Changes to New Jersey’s Mansion Tax—What You Need to Know

Posted at 17:01h in News by

As of July 1, 2025, Bill A5804 is now in effect, bringing significant changes to New Jersey’s Mansion Tax.

🔹 The seller will now be responsible for paying the Mansion Tax (instead of the buyer).
🔹 A new tiered rate system means a higher tax for higher-priced properties:
•    1% for sales over $1M and up to $2M
•    2% for $2M–$2.5M
•    2.5% for $2.5M–$3M
•    3% for $3M–$3.5M
•    3.5% for anything above $3.5M

This applies to property transfers or controlling interests recorded on or after July 10, 2025.
If you’re closing soon, make sure your deed is recorded by July 9 to preserve the current 1% rate.

There are additional provisions for partial refunds if a contract was signed before July 10—reach out to our team to learn more.

Have questions? We’re happy to help. Contact us today!