Exiting New Jersey: The Lowdown on Realty Transfer Tax for Seniors Selling Their Homes and Moving Out of State.

Seniors in New Jersey who are considering relocating to another state need to be aware of the state's realty transfer tax, also known as the Exit Tax. Introduced in 2007, this tax is a flat 2% of the sale price of the property, with a maximum of $20,000. While this tax is not unique to seniors, it can be a significant financial burden for those on a fixed income.

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