Modifies payer of additional fees and taxes imposed on certain real property transfers; modifies fees and taxes imposed on property transfers valued over $2 million.

This bill changes who pays certain real estate transfer fees in New Jersey, shifting responsibility from buyers to sellers for properties valued over $1 million. For properties valued over $2 million, it increases tax rates to 2% for $2-2.5 million, 2.5% for $2.5-3 million, 3% for $3-3.5 million, and 3.5% for amounts over $3.5 million. The bill also provides a refund mechanism for sellers who paid fees in excess of 1% for property transfers recorded before November 15, 2025. These changes apply to residential, commercial, and other property transfers meeting the specified criteria.