New Jersey Title Insurance, Transfer & Mansion Tax Calculator
Easily
calculate the New Jersey title insurance rates and New Jersey transfer
tax; including the NJ mansion tax. Title insurance rates or premiums
are regulated in New Jersey, therefore, title rates should not vary
between title insurance companies. The NJ transfer tax is customarily
paid by the seller. This calculator is designed to estimate the basic
and refinance title insurance rate for one to four family residences
and condominiums. Please send me an E-mail
if you see an error or want to make a comment.
What is the New Jersey transfer tax?
New Jersey imposes a real estate transfer tax on the sale of
real property. The tax rate is somewhat confusing because the transfer
rate is more expensive when the sales price is greater than $350,000.
The real estate transfer tax is discounted for the purchase and
sale of a one- or two-family dwelling owned or occupied by a qualifying
senior citizen aged 62 or older, a blind person, or a disabled person
who is the seller; or for the purchase and sale of real property
that is low and moderate income housing.
Read more about the NJ transfer tax
What is a mansion tax?
The State of New Jersey imposes an additional transfer tax on properties sales greater than 1 million dollars. The mansion tax is one percent of the purchase price and this additional tax is paid by the home buyer.
Who pays the title insurance in New Jersey?
The cost of the title insurance policies (owners and loan) are typically paid by the buyer.
Can I shop for a lower title insurance rate in New Jersey?
The title insurance rates are set by the New Jersey Division of Banking and Insurance. What this means is the title premium will be the same no matter what company you decide to use.