> The New Jersey State Legislature is considering further increases
to the Home Sales Tax by PERMITTING INDIVIDUAL MUNICIPALITIES TO
ESTABLISH THEIR OWN FEES IN ADDITION TO THOSE CHARGED BY THE STATE.
>
Good post. It also impacts commercial as well as residential.
ADD TO THAT THE "MANSION TAX", which impacts commercial as well.
It's the Robinhood Taxes. Spend $1m on a nice condo, cough up an
extra $10k for the hell of it. The real value of you $1m purchase is
less a real estate commission, less the taxes, closing costs etc.
Wouldn't that be a way for Asbury to capture some piece of the sales
in the redevelopment zone.....or would that fall into the abatementa
arena OR is here some little language in the agreement that forbids
the city from taxing anthing "extra" in the zone???...?
Most towns already collect a tax on transfers - it called a
Certificate of Occupancy (CO). No set fee for rentals, sales etc.
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