NJ A4839

Raises the threshold for imposing an additional 1% fee on real property transfers (including residential, commercial, farm property with residential structures, and cooperative units) from $1 million to $1.65 million in purchase price

Increases the threshold for the controlling interest transfer tax on commercial property from $1 million to $1.65 million, which applies when purchasing a controlling interest (more than 50%) in an entity that owns classified commercial real property

Maintains existing exemptions from these fees, including transfers to tax-exempt organizations, government entities, and intercompany transfers between combined group members as part of a unitary business

Preserves the exemption for transfers incidental to corporate mergers or acquisitions where real property value is less than 20% of total assets exchanged

Takes effect 30 days after enactment