Property tax, transfer tax and closing costs in New Jersey

New Jersey: Realty transfer fee paid by the seller, per $500 of consideration, on two schedules. Up to $350,000: $2.00 on the first $150,000, $3.35 from $150,000 to $200,000 and $3.90 from $200,000 to $350,000. Over $350,000: $2.90 on the first $150,000, $4.25 to $200,000, $4.80 to $550,000, $5.30 to $850,000, $5.80 to $1,000,000 and $6.05 above that. A graduated percent fee on the whole price applies over $1 million: 1% to $2 million, 2% to $2.5 million, 2.5% to $3 million, 3% to $3.5 million and 3.5% above. Seniors, blind and disabled sellers and low and moderate income housing pay reduced rates. Seller pays the realty transfer fee and, for sales after July 10, 2025, the graduated percent fee over $1 million. Annual assessment as of October 1 by the municipal assessor, with revaluations ordered by the county board of taxation.

Reviewed October 15, 2026. Every line links its statute or official source.

What New Jersey sets

Transfer tax: Realty transfer fee paid by the seller, per $500 of consideration, on two schedules. Up to $350,000: $2.00 on the first $150,000, $3.35 from $150,000 to $200,000 and $3.90 from $200,000 to $350,000. Over $350,000: $2.90 on the first $150,000, $4.25 to $200,000, $4.80 to $550,000, $5.30 to $850,000, $5.80 to $1,000,000 and $6.05 above that. A graduated percent fee on the whole price applies over $1 million: 1% to $2 million, 2% to $2.5 million, 2.5% to $3 million, 3% to $3.5 million and 3.5% above. Seniors, blind and disabled sellers and low and moderate income housing pay reduced rates. Source: nj.gov
Who customarily pays: Seller pays the realty transfer fee and, for sales after July 10, 2025, the graduated percent fee over $1 million. Source: nj.gov
Local transfer taxes: Not stated. No official source confirmed this yet.
Reassessment cycle: Annual assessment as of October 1 by the municipal assessor, with revaluations ordered by the county board of taxation. Source: nj.gov
Homestead and other exemptions: No homestead exemption on the bill. ANCHOR benefit and senior freeze programs rebate part of the tax. Source: nj.gov
Owner’s title policy: Buyer customarily pays for the owner’s title policy. Source: nj.gov
How closings run: Attorney closings are customary in North Jersey, title company closings in South Jersey. Source: nj.gov
Survey: Buyer customarily pays for a survey. Source: nj.gov
Other closing customs: Not stated. No official source confirmed this yet.

New Jersey transfer tax on a $454,000 sale

Realty transfer fee, sales up to $350,000seller pays$0$454,000 is over $350,000, so the schedule for larger sales applies instead
Realty transfer fee, sales over $350,000seller pays$3,733.40$150,000 × 0.58% = $870, then $50,000 × 0.85% = $425, then $254,000 × 0.96% = $2,438.40, total $3,733.40
Graduated percent fee, sales over $1 millionseller pays$0$454,000 is not over $1,000,000, so no tax applies

seller pays: $3,733.40
Total transfer tax: $3,733.40

Statutory transfer taxes on a $454,000 sale, as of the reviewed date. Who pays is custom and contract outside the statute’s primary liability. Local taxes described above are not in this figure unless listed as a line. Recording fees, title and attorney charges are separate.

Open the New Jersey transfer tax calculator, with a link to share and an embed for your site.

Typical property tax in New Jersey

Median real-estate tax paid: $9,590 a year
Per month: $799
Median owner-occupied home value: $454,400
Effective rate they imply: 2.11%

Census American Community Survey five-year file, 2020-2024, tables B25103 and B25077, owner-occupied homes. The median bill rose 15% against the 2015-2019 file. An estimate for a typical home, not yours. Your bill depends on the parcel, its exemptions and the next reassessment.

For agents

Your buyers ask what closing costs in New Jersey and who pays. This page answers from the statute, with the date it was checked. Send it, or embed the calculator on your own site.

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One email when New Jersey rates, exemptions or transfer taxes change, and when the next reassessment lands.

Sources

Ike Mortgage LLC. NMLS ID pending. For licensing information, go to: www.nmlsconsumeraccess.org. Nothing on this page is a loan payment, rate, term or down payment, and nothing here is a Loan Estimate.