Official Site of The State of New Jersey

2025 Tax Law Summaries

Modifies Payer of Fees and Taxes on Certain Real Property Transfers

This law amends the additional fee on certain transfers of real property and imposes the fee on the grantor, where previously it was imposed on the grantee. The law also amends the Controlling Interest Transfer Tax to impose the fee on the seller, where previously it was imposed on the purchaser. A new fee structure has been created for both scenarios.

• Citation: P.L.2025, c.69
• Signed into law: June 30, 2025
• Effective: July 1, 2025, and applies to transfers of real property or controlling interests occurring on or after July 10, 2025.

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Expands Property Tax Reimbursement Eligibility

The law allows disabled individuals under age 65 who receive federal Railroad Retirement Disability payments and meet all of the other eligibility requirements to apply for the Property Tax Reimbursement (PTR) program.

• Citation: P.L. 2025, c.24
• Signed into law: March 6, 2025
• Effective: March 6, 2025