NJ Real Estate Lawyer Christine Matus Discusses Mansion Tax and Who Pays for Mansion Tax in New Jersey

Dec 7, 2022

December 07, 2022 - /PressAdvantage/ - NJ real estate lawyer Christine Matus (https://matuslaw.com/who-pays-the-mansion-tax-in-nj/) releases a new article explaining who pays the mansion taxes. The lawyer mentions that home values are on the rise across the country and not just in New Jersey. A "mansion tax" may apply to any property worth more than $1 million.

According to the NJ real estate lawyer, "When a property changes hands, a transfer fee is paid to the county where the property is located. The transfer fees are deducted from the seller's proceeds at closing and paid to the country when the new deed to the buyer is recorded.”

The lawyer says that homes worth more than $1 million are subject to an additional fee of 1% in New Jersey. The mansion tax may also apply to commercial properties. Usually, the mansion tax is paid by the seller after closing the deal.

Attorney Matus also points out that some properties are exempt from mansion taxes. These properties include vacant properties, farm property without an established home, farm property that qualifies to be assessed for farmland, industrial properties, apartment buildings of five or more units, and cemeteries.

Attorney Christine Matus also states “Certain types of transfers can also be exempted from the mansion tax. These can include bankruptcies, transfers between family members, transfers in accordance with the terms of a will, transfers in accordance with a divorce decree, correction deeds, or properties sold for a consideration less than $100 if no mortgage exists.”

Attorney Matus claims that $1 million homes are now more common than ever because of the current real estate market. If someone is thinking of selling their house, they need to check if their property will be subject at closing to a mansion tax.

Lastly, attorney Christine Matus emphasizes the importance of having an experienced real estate lawyer. A skilled real estate attorney can help clients to understand whether they will have to pay the mansion tax on the sale of their property and what they should do.

About The Matus Law Group

The Matus Law Group has a team of real estate attorneys committed to helping families and individuals in real estate transactions in New Jersey and New York. Through a team approach, they work hard to help their clients with their real estate needs. Call The Matus Law Group today at (732) 785-4453.

The Matus Law Group

125 Half Mile Rd #201A, Red Bank, NJ 07701

(732) 785-4453

###

For more information about Matus Law Group - Monmouth County, contact the company here:

Matus Law Group - Monmouth County
Christine Matus
(732) 785-4453
[email protected]
Matus Law Group - Monmouth County
125 Half Mile Rd Red Bank, NJ 07701

ReleaseID: 60056543

More News

Text Message Referencing a ‘Hijack’ Forces United Flight to Return to Vegas
Oct 28, 2026
Text Message Referencing a ‘Hijack’ Forces United Flight to Return to Vegas

Now charged with a felony, the passenger who sent the text said that he had been drinking, and that the message was poorly worded banter between co-workers.

An ‘Endless’ Cruise Around the World Is Suspended, Leaving Passengers Stranded
Oct 28, 2026
An ‘Endless’ Cruise Around the World Is Suspended, Leaving Passengers Stranded

The cruise promised a lifetime of sailing, for less than what it cost to live on land. But it was underfunded and couldn’t absorb the rising cost of fuel.

Das sind die Gewinner der Business Traveller Awards 2026
Oct 28, 2026
Das sind die Gewinner der Business Traveller Awards 2026

Erfahren Sie, wer bei den Business Traveller Awards 2026 in den globalen und regionalen Kategorien den ersten Platz belegt hat. The post Das sind die Gewinner der Business Traveller Awards 2026 appeared first on Business Traveller.

Can Pakistan International Airlines Recapture Its Former Glory?
Oct 28, 2026
Can Pakistan International Airlines Recapture Its Former Glory?

Once among Asia’s most admired airlines, Pakistan International Airlines faces a difficult comeback under private ownership, confronting decades of financial troubles, political interference, fleet challenges and a troubled leadership search. The post Can Pakistan International Airlines Recapture Its Former Glory? appeared first on Business Traveller.

Can Pakistan International Airlines Recapture Its Former Glory?
Oct 28, 2026
Can Pakistan International Airlines Recapture Its Former Glory?

Once among Asia’s most admired airlines, Pakistan International Airlines faces a difficult comeback under private ownership, confronting decades of financial troubles, political interference, fleet challenges and a troubled leadership search. The post Can Pakistan International Airlines Recapture Its Former Glory? appeared first on Business Traveller.

If You Can Pass This Geography Trivia Quiz, You Belong In The Knowledge Hall Of Fame
Oct 28, 2026
If You Can Pass This Geography Trivia Quiz, You Belong In The Knowledge Hall Of Fame

Test your knowledge of geography! View Entire Post ›

Eight Hours Over the Pacific in a 737? Alaska Airlines Says Yes
Oct 28, 2026
Eight Hours Over the Pacific in a 737? Alaska Airlines Says Yes

Alaska is taking its Boeing 737 MAX across the North Pacific, launching nonstop Anchorage–Tokyo flights with an eight-hour journey that presents unusual operational challenges and passenger considerations. The post Eight Hours Over the Pacific in a 737? Alaska Airlines Says Yes appeared first on Business Traveller.

I've Watched Airline Amenities Slowly Dry Up. Here's What I Always Pack To Keep My Flights Tolerable.
Oct 28, 2026
I've Watched Airline Amenities Slowly Dry Up. Here's What I Always Pack To Keep My Flights Tolerable.

Many frequent flyers, including me, think the experience is getting worse. View Entire Post ›

COTRAV BLACK enters India’s luxury live-entertainment market, to debut at A R Rahman concert
Oct 28, 2026
COTRAV BLACK enters India’s luxury live-entertainment market, to debut at A R Rahman concert

Backed by the business group behind travel management company COTRAV, the new venture draws on the group’s experience in managing travel and logistics for large events, weddings and concerts. COTRAV BLACK will operate as a distinct brand focused on premium live-entertainment experiences.

The Nordic Christmas markets to know for 2026
Oct 28, 2026
The Nordic Christmas markets to know for 2026

Christmas market season is approaching, but beyond Europe’s best-known festive destinations, some of the continent’s most atmospheric celebrations can be found further north. Across Norway, Sweden, Finland and Iceland, Christmas markets take over historic squares, open-air museums and even forests, bringing together local crafts, Nordic design, seasonal food and traditions that have been celebrated for generations. For travellers looking for something a little different this winter, Nordic travel specialist Off The Map Travel has selected six Christmas markets worth putting on the radar for 2026, from Stockholm’s century-old Skansen market to Bergen’s enormous gingerbread city.

Sofia Christmas Fest 2026 Transforms the Heart of Bulgaria’s Capital into a Festive Wonderland
Oct 28, 2026
Sofia Christmas Fest 2026 Transforms the Heart of Bulgaria’s Capital into a Festive Wonderland

Sofia, the capital of Bulgaria and one of Europe’s oldest cities, will once again embrace the magic of Christmas with Sofia Christmas Fest 2026. From 20 November to 28 December, the festival will return for its fifth consecutive year to the park in front of the National Palace of Culture (NDK), an iconic convention and cultural centre located in the heart of the city.

The maximum-security facility X-raying everything from Pringles to perfume before they board your plane is this huge airline's best-kept secret
Oct 28, 2026
The maximum-security facility X-raying everything from Pringles to perfume before they board your plane is this huge airline's best-kept secret

As someone who grew up spellbound by Charlie and the Chocolate Factory, I've perhaps been guilty of harbouring an idealised view of industrial-scale production lines.

YOUR NEWS, OUR NETWORK.

Do you have Great News you want to tell the world?

Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.

Life Ponds

Life Ponds publishes travel and lifestyle on a daily basis. We believe that Life Ponds will help to solve your problems every time you face a challenge.

Newsletter