Protect Commercial Property Owners
The New Jersey Association of REALTORS® (NJAR®) has launched an advocacy campaign to educate the public about legislation pending before the Assembly and Senate that would allow municipalities to impose a local realty transfer fee. This fee would be in addition to the transfer fee already assessed by the state.
Higher transfer fees will add an additional cost to every commercial transaction, create a new disincentive for businesses to locate or expand operations in New Jersey and negatively impact economic growth.
You can do your part to stop this new tax by sending the letter below directly to your state legislators.
Dear [ Decision Maker ],
I am writing to ask that you oppose any legislation that will increase the existing state realty transfer fee and/or will permit municipalities to establish their own realty transfer fee on the sale of real property in New Jersey.
Much has been written about the impact increasing or expanding the realty transfer fee will have on home sellers and home buyers, but its impact on commercial property sellers must not be overlooked.
Increasing the state realty transfer fee and/or the imposition of a local realty transfer fee will:
- Make commercial property needlessly more expensive;
- Create a disincentive for businesses to locate or expand their businesses;
- Negatively impact economic growth; and
- Erode valuable equity that may have built up in the property.
Business development is essential for New Jersey's economic prosperity and growth. Higher real estate taxes will drive businesses to other states where the cost of buying and selling commercial property is more attractive. That means lost jobs and opportunities for our state's workforce.
Increasing or imposing a new realty transfer fee sends the wrong message to the business community. I encourage you to send the right message by voting NO on any increase or expansion of the realty transfer fee.
(Edit Letter Below)
Sincerely,
[Your name]
[Your address]
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Take Action on this Issue
Send this message to:
- Your Assemblyperson (if you live in New Jersey)
- Your State Senator (if you live in New Jersey)
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