NJ A6015

Raises the threshold for the 1% additional fee on real property transfers (including residential, commercial, farm property with residential structures, and cooperative units) from $1 million to $2 million in consideration

Increases the threshold for the controlling interest transfer tax on commercial property from $1 million to $2 million, affecting purchases of controlling interests in entities that own Class 4A commercial properties

Maintains the existing exemptions, including transfers to 501(c)(3) tax-exempt organizations, intercompany transfers between combined group members, and corporate mergers/acquisitions where real property value is less than 20% of total assets exchanged

Takes effect 30 days following enactment