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Bill

A 1217

Eliminates supplemental realty transfer fee and one percent fee on transfers of certain commercial real estate and tax on sale of controlling interests in certain commercial real property.

2026-2027 Regular Session Introduced by Dawn Fantasia and 1 co-sponsor

New Jersey bill eliminates commercial real estate transfer taxes and supplemental realty fees, removing costs for property buyers but reducing state revenue.

Introduced, Referred to Assembly Commerce and Economic Development Committee
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Bill Summary · A 1217

Legislative bill overview

Bill A 1217 eliminates New Jersey's supplemental realty transfer fee and the 1% transfer fee on certain commercial real estate transactions. It also repeals the tax applied to sales of controlling interests in commercial properties. These are taxes currently levied on real estate transfers in the state.

Why is this important

Commercial real estate transaction costs directly affect property values, investment decisions, and development activity. Removing these fees could make New Jersey commercial properties more attractive to buyers and investors, potentially stimulating the real estate market. However, these fees currently generate state revenue that funds various programs and services.

Potential points of contention

  • Revenue impact: Eliminating these fees reduces state tax revenue without specifying replacement funding sources or which programs would be affected
  • Equity concerns: The bill benefits commercial property investors and owners while potentially shifting tax burdens elsewhere or reducing public services
  • Market effects: Critics may argue this primarily benefits large commercial developers and investors rather than small businesses or the general public

Compiled from official sources — confirm details with the bill’s official record.

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