NJ A5804

Imposes a tiered fee structure on grantors for real property transfers exceeding $1 million: 1% for $1-2 million, 2% for $2-2.5 million, 2.5% for $2.5-3 million, 3% for $3-3.5 million, and 3.5% for transfers over $3.5 million

Applies the fee to residential properties (Class 2), farm properties with residential structures (Class 3A), cooperative units, and commercial properties (Class 4A)

Exempts transfers to 501(c)(3) tax-exempt organizations, transfers where real property is less than 20% of total merger/acquisition assets, and intercompany transfers between combined group members of a unitary business

Provides a grandfathering provision allowing refunds for transfers with contracts fully executed before July 10, 2025 if recorded by November 15, 2025, limiting the fee to 1% of consideration

Imposes the same tiered tax structure on sales or transfers of controlling interests in entities that possess commercial real property valued over $1 million, with the tax paid by the seller