S 58 New Jersey Senate · 2026-2027 Regular Session

Exempts certain transactions of residential property involving senior, blind, and disabled citizens from general purpose fee under realty transfer fee and one percent assessment on real property selling for more than $1,000,000.

This bill exempts qualifying senior citizens, blind individuals, and disabled persons from paying the general purpose fee and the state portion of the basic real estate transfer fee when selling their own one- or two-family home. It applies only if the seller (not the buyer) meets the qualifying status, owns and occupies the property, and the home is not jointly owned with someone who doesn't qualify. The exemption does not apply to properties selling for over $1 million (which are subject to a separate 1% fee), and it covers specific transfer fees under New Jersey's realty transfer tax system. This change directly affects low- to moderate-income senior, blind, or disabled homeowners selling their primary residence.
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2026
Committee Review
Floor Vote
Governor
Introduced Jan 13, 2026 Last action Jan 13, 2026
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Jan 13, 2026
Introduced
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Jim Holzapfel
Jim Holzapfel
RRepublican
NJ
10