Christie Attacks Realty Transfer Fee [AUDIO]
Gov. Chris Christie indicated at a town hall that he’d be willing to scrap New Jersey’s realty transfer fee, which reportedly produces hundreds of millions of dollars in tax revenue for the state each year.
After learning that a retired state trooper was assessed a fee of more than $5,400 when he sold his home, Christie described the tax as “ridiculous” and “a grab by the government.”
“It makes no sense,” Christie said at the Somerset event. “There’s no rhyme or reason to it.”
The fee, which has been around for years, is imposed on a homeowner upon selling their house. The state estimated the transfer fee would bring in $325 million during the next fiscal year and $287 million during the current budget cycle.
Despite the revenue boost, Christie said he’d immediately sign a bill that nixes the fee if the legislature were to send one his way.