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

This bill eliminates the current tiered fee structure for property transfer taxes on real estate valued over $1 million in New Jersey. Instead of charging increasing percentages (1% to 3.5%) based on property value ranges, it establishes a flat 1% fee on all transfers exceeding $1 million. The change directly affects sellers (grantees) of high-value residential, commercial, or farm properties over $1 million, while maintaining existing exemptions for nonprofits, corporate mergers, and intercompany transfers. The fee would be collected by county recording offices and remitted to the state general fund.