Eliminates tiered fee structure for fees and taxes imposed on property transfers valued over $1 million.

This bill would replace New Jersey's current tiered fee structure for property transfers over $1 million with a flat 1% fee on the entire sale price. Currently, fees range from 1% to 3.5% based on property value (e.g., 1% for $1 million-$2 million, 2% for $2 million-$2.5 million, and higher rates for more expensive properties). The change would reduce fees for properties valued above $2 million while leaving the 1% fee unchanged for properties between $1 million and $2 million. It directly affects sellers and buyers in real estate transactions exceeding $1 million.