Public urged to voice opposition to home sale tax raise

The Monmouth County Association of Realtors opposes the bills (A- 3190/S-2643, A-3341, A-3387 and S- 2080) before the state Legislature that would increase the New Jersey home sales tax or realty transfer fee. These proposed bills would allow local municipalities to charge a tax in addition to the taxes currently collected by the state.

Any and all of these bills would cause an unnecessary hardship on many New Jersey homebuyers and sellers in an already strained real estate market. They would increase closing costs and raise home prices while reducing home equity.

Many sellers have worked hard to build up equity in their homes and rely on that equity to help fund another home purchase or financial goal. The effects would be felt by people buying or selling a home, from first-time homebuyers to families to retiring seniors.

The Monmouth County Association of Realtors urges people to learn about the New Jersey home sales tax by visiting www.njhometax.com and contacting their state representatives to stop the tax. We implore our elected officials to consider the negative impacts of these bills on residents and to act responsibly and vote against all legislation that calls for hikes in real estate taxes.

Ellen W. Kale

President

Monmouth County Association of Realtors

Tinton Falls