New Jersey realtor says her client has to pay a $185K transfer tax on a home they’re selling for $4 million.In simple terms, that $185K is the government’s “cut” for updating the public record to show who owns the property.If her client were moving out of state, they would also pay what’s often called the New Jersey Exit Tax. The state withholds 2% to make sure you don’t leave without paying any taxes due on the sale.New Jersey’s so-called “mansion tax” has also changed: the original 1% flat tax
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