News & Analysis as of August 21, 2025

Transfer Taxes

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Property Taxes are taxes levied against the owner of property located within a particular jurisdiction. Property taxes are often used to refer to taxes on real property. Property taxation schemes vary depending on the country or jurisdiction. However, a popular system involves a government assessment of the value of a property and a rate based on a proportion of the assessed value. A property may be subject to taxation by multiple taxing entities. less -

Amendments to New Jersey's Mansion Tax and Controlling Interest Transfer Tax

Genova Burns LLC on 7/28/2025

As of July 10, 2025, the Mansion Tax and Controlling Interest Transfer Tax (“CITT”) now requires sellers of certain classes of real property (and controlling interest involving certain classes of real property) transferred...more

New Jersey Increases Mansion Tax Rates and Shifts Payment Obligation to Sellers

Troutman Pepper Locke on 7/7/2025

On June 30, Governor Phil Murphy signed Bill A5804 into law, amending N.J.S.A. § 46:15-7.2-7.4; N.J.S.A. § 54:15C-1, and introducing significant changes to New Jersey’s realty transfer tax structure. These changes — effective...more

New Jersey Modifies Mansion Tax on Sales of Real Property

Bressler, Amery & Ross, P.C. on 7/3/2025

The New Jersey state legislature has passed new legislation, as part of the State’s 2026 fiscal year budget, that directly and significantly impacts sellers and buyers of real property in New Jersey. Previously, a 1% fee...more

South Carolina’s Alphabet Soup Part II: ATIs and FILOTs after South Carolina’s Tax Code Amendments

Womble Bond Dickinson on 3/1/2024

Our previous Client Alert discussed assessable transfers of interest or “ATIs” and Fee in Lieu of Tax “FILOT” Agreements in the aftermath of significant amendments to South Carolina’s Tax Code in 2022. As discussed...more

No Time Like the Present: Estate Planning Strategies for Potential Changes in 2021 and Beyond

Davis Wright Tremaine LLP on 5/4/2021

The Estate Planning Team at Davis Wright Tremaine LLP issues advisories regularly to communicate important law changes and other matters of interest to our clients, their advisors, and our friends. The 2020 presidential...more

Sold Only an Interest in Your Property? Get Ready To Pay More Tax

Nossaman LLP on 10/13/2014

California state and local government agencies looking for more revenue have long been looking at real estate sales to increase their tax take. Last month, the California Court of Appeal for the Second Appellate District...more

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