NJ A2494

Counties containing a city of the first class (population over 150,000) must impose a surcharge of $3 to $10 on documents recorded for real property located in that city

Surcharge revenue would be returned quarterly to the city's business administrator and deposited into the municipal affordable housing trust fund

Funds must be used exclusively for creating or rehabilitating affordable housing opportunities in the city of the first class

Currently applies only to Newark and Jersey City, the state's only cities of the first class, with populations of approximately 281,054 and 261,940 respectively

Surcharge is in addition to existing county document recording fees, including the existing $3-$5 surcharge for the County Homelessness Housing Trust Fund