https://theworldwatch.com/tags/property/ Fri 01 May 2026 14:08:00 +0200 https://theworldwatch.com/videos/1614901/new-jersey-realtor-says-her-client-has-to-pay-a-185k-transfer-tax-on-a-home-they-re/
In simple terms, that $185K is the government’s “cut” for updating the public record to show who owns the property. If her client were moving out of state, they would also pay what’s often called the New Jersey Exit Tax. The state withholds 2% to make sure you don’t leave without paying any taxes due on the sale. New Jersey’s so-called “mansion tax” has also changed: the original 1% flat tax on homes over $1M has been replaced by a tiered system, paid by the seller, increasing by 0.5% for every additional $500K. As one observer rightly noted, that money could have remained in the hands of individuals, as a salary, a raise, or startup capital, to fuel real economic growth, create jobs, and build wealth from the bottom up. Instead, it’s seized through taxation and funneled through politicians and bureaucrats, who allocate it to social programs and pet projects with little accountability. History shows these initiatives are riddled with undetected waste, fraud, and inefficiency, often delivering minimal benefits to those they’re supposed to help while expanding government control. ]]> Thu 30 Apr 2026 17:16:03 +0200 https://theworldwatch.com/videos/1614901/new-jersey-realtor-says-her-client-has-to-pay-a-185k-transfer-tax-on-a-home-they-re/