News & Analysis as of

Commercial Property Owners Transfer Taxes Commercial Real Estate Market

McCarter & English, LLP

Mansion and Controlling Interest Transfer Tax Amendments Signed Into Law: Buyers and Sellers Must Move Fast to Avoid Rate Increase

On Tuesday, July 1, Governor Phil Murphy signed into law Senate Bill S4666/Assembly Bill A5804 (collectively, the Bill), which impacts certain transfers of real property. The Bill amends the existing fees imposed on certain...more

Cozen O'Connor

Council Of The District Of Columbia Approves Significant Increase In Transfer And Recordation Taxes

Cozen O'Connor on

Effective October 1, 2019, the transfer tax and recordation tax for real estate sales of commercial and mixed-used property on transactions of $2,000,000.00 or above will be significantly increased. On May 28, 2019, the...more

Saul Ewing LLP

Revised Philadelphia Transfer Tax Ordinance Requires Reconsideration of Commercial Real Estate Transactions

Saul Ewing LLP on

On December 8, 2016, the Philadelphia City Council approved a bill intended to close various perceived loopholes used by owners of commercial real estate to minimize or avoid the City’s realty transfer tax. Mayor Kenney is...more

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