According to the New Jersey Fiscal Year 2026 Budget, the Supplemental Fee of the Realty Transfer Fee (RTF) will increase starting July 10, 2025. 🔍 Background on the Realty Transfer Fee (RTF): The Realty Transfer Fee (RTF) is a basic tax applied when real estate ownership is transferred. This tax has been in effect since 1968 and is typically paid at the time of closing. 📜 History of the Supplemental Fee: Introduced in 2004, the Supplemental Fee is an additional tax often referred to as the “Mansion Tax.” Previously: The buyer was responsible for paying this fee when purchasing properties priced over $1 million. ⚠️ Key Change Starting July 10, 2025: The buyer’s responsibility is eliminated. Instead, the seller will now be responsible for paying the entire Supplemental Fee. ✅ Summary of Changes: CategoryBefore July 10, 2025After July 10, 2025Who pays the Supplemental Fee?Buyer pays 1% on sales over $1 millionSeller pays the full Supplemental FeeBasic RTFSeller pays based on sales…