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Real Estate Transactions › State Budgets

Genova Burns LLC

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

Genova Burns LLC on

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

Cozen O'Connor

Broad Street Brief: HBSE, Comcast Acquire Market East Properties

Cozen O'Connor on

Mayor Parker Strikes Deal with DC 33 - Trash collectors and other frontline City workers will return to work after the Parker administration reached a deal with AFSCME District Council 33 early Wednesday morning. The...more

Cole Schotz

New Jersey’s Latest Budget Has Sweeping Changes to the Mansion Tax

Cole Schotz on

The latest budget passed by the New Jersey legislature and signed by term-limited Governor Phil Murphy quietly enacted changes to New Jersey’s Mansion Tax, which affects not only residential properties but commercial...more

Bressler, Amery & Ross, P.C.

New Jersey Modifies Mansion Tax on Sales of Real Property

Bressler, Amery & Ross, P.C. on

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

Akerman LLP - HR Defense

New York City's Commercial Real Estate Tax Industrial and Commercial Abatement Program Extended to 2030 With Modifications

Akerman LLP - HR Defense on

The New York City Industrial and Commercial Abatement Program (ICAP) has been extended to remain in effect through 2030, with some modifications. The New York state budget bill for FY 2026, signed by Governor Kathy Hochul on...more

K&L Gates LLP

Victorian Government to Extend the Temporary Off-the-Plan Duty Concession

K&L Gates LLP on

As part of the 2025–2026 Victorian State Budget announced on 20 May 2025, the Victorian government has confirmed that it intends to extend the availability of an expanded off-the-plan stamp duty concession for a further...more

Holland & Knight LLP

New York State Legislature Prepares to Enact Mezzanine Debt and Preferred Equity Tax Bill

Holland & Knight LLP on

In August 2020, a bill was introduced in the New York State Legislature that would tax mezzanine debt (the Mezzanine Debt Bill). The Mezzanine Debt Bill has now been reintroduced in both the Assembly and the Senate and is...more

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