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I was told today by realtor that If you sell your house and move out of NJ you must now pay an Exit tax of 1% of the selling price. HUH? Anyone hear of this? This doesn't make sense. This is a so-called new law?
Pattynj.. I heard this too. I read it in the newpaper. I thought no way they can not do that to people. I guess it is true. Your realtor would know. I guess NJ wants to punish people that are sick of paying the high property taxes. It just sounds crazy!!! NJ is getting us coming and going!!!
Could ypu pretend your going on vacation of a lifetime with your profit and plan on renting when you get back
lol. I was told by my realtor to not move right away. To go to mom's house and think about it. This is crazy. What if I wanted to live in both NJ and NC? I could be one of those snow birds. AHH, not like I sold my house anyway yet.
Am I looking at the wrong thing? All the information I see pertained to nonresidents selling property in NJ. If you sell the property and move out of state, I would think (and I am no tax expert!) that since you have to still file NJ taxes for that year, you would not be required to pay the non-residency tax.
When we moved the realtor had told us about the exit tax. HOWEVER, we were TOLD atleast, by him and lawyers at the closing we didnt have to pay BECAUSE it was our primary residence. If you are selling a second property that isnt your primary residence you have to pay according to how it was explained to us.
And the new border fence is to keep the Mexicans out is it?
I believe the Chinese invented that one
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This is crazy. What if I wanted to live in both NJ and NC? I could be one of those snow birds.
They've taken enough of everyone's money.
