Kamouts, Home Buyer in Long Beach Township,...

What are the luxury taxes on a house in excess of 1 million?

Asked by Kamouts, Long Beach Township, NJ Mon Sep 24, 2012

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that 1% over 1 million (mansion tax) is the reason you will see a number of sales at 999,999!
0 votes Thank Flag Link Mon Sep 24, 2012
Well, they beat me too it! Ditto what Diane and Andrew have indicated.
0 votes Thank Flag Link Mon Sep 24, 2012
there is a transfer fee tax for 1% of homes sold over 1 million. for homes sold less than a million the transfer fee tax is less than 1 %
0 votes Thank Flag Link Mon Sep 24, 2012
The tax is 1% of the total purchase price on any home priced $1MM or above.
Web Reference: http://www.dianeglander.com
0 votes Thank Flag Link Mon Sep 24, 2012
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