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State and Local Government › Real Estate Transactions › Real Estate Transfers

Morgan Lewis

New Jersey ‘Mansion Tax’ Changes Impose Higher Transaction Costs on Commercial and Residential Real Estate Sales

Morgan Lewis on

Recent revisions to New Jersey law increase the so-called “mansion tax” for sales in excess of $2 million and shift the tax payment obligation to the seller. Governor Phil Murphy recently signed legislation making...more

Saul Ewing LLP

Philadelphia Increases Realty Transfer Tax Rate to 3.578% Starting July 1, 2025

Saul Ewing LLP on

Effective July 1, 2025, the realty transfer tax rate for properties or acquired real estate companies sold in the City and County of Philadelphia will increase to 3.578%, in addition to the Commonwealth of Pennsylvania realty...more

Seyfarth Shaw LLP

Recordation and Transfer Tax Changes in Maryland and the District of Columbia

Seyfarth Shaw LLP on

Seyfarth Synopsis: Montgomery and Anne Arundel Counties in Maryland are increasing their recordation and transfer taxes, while 2019 increases to recordation and transfer taxes in the District of Columbia are set to expire....more

Perkins Coie

San Francisco Adopts Ordinance To Facilitate the Conversion of Office Buildings to Housing

Perkins Coie on

In downtown San Francisco, office vacancy has skyrocketed as hybrid work has transformed the way in which employers and employees use office space. This, in turn, has decreased activity downtown, negatively impacting the...more

Stoel Rives LLP

After Passage of Prop 19, Consider Transferring California Real Property to Avoid Property Tax Reassessment

Stoel Rives LLP on

Californians have voted to implement Proposition 19, a ballot measure that significantly narrows the parent-child property tax exemption allowing transfers of real property between parents and children without a reassessment...more

Seyfarth Shaw LLP

DC Recordation and Transfer Taxes Skyrocketing for Commercial Properties

Seyfarth Shaw LLP on

As has been announced, the cost of real estate transactions involving commercial property located in the District of Columbia will increase significantly as of October 1, 2019, but not necessarily for multifamily properties....more

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