One thing that I explain to my clients who are selling their New Jersey Home is that the State of New Jersey imposes a Real Estate transfer tax. This is a tax imposed on Sellers by the State of New Jersey pursuant to N.J.S.A. 46:15-5 et seq. This tax was first enacted in 1968. A reduced Realty Transfer Fee is available to senior citizens, blind persons, and disabled persons on the sale of one-or two-family residences which they own and occupy, and on the sale of low and moderate income housing.

The calculation is a little complicated, so I have compiled the table below. This law has been amended several times and I am not a lawyer. Therefore please note that the actual amount due will be calculated by the title clerk.

.Reference resource: Click Here.

Below you will find many wonderful pictures of Madison New Jersey and the beautiful historic 1950′s style downtown.

Madison New Jersey sits on the New Jersey Transit Midtown Direct train line into NYC Manhattan, making Madison one of the top choices for people working in New York City but wanting to live the more relaxing and affordable suburban life.

Madison NJ real estate tends to be priced from about $340,000 to $3,000,000. Here are some examples of what you get for the money:

* $345,000 for a 1 bedroom 1 bath condo on main street
* $499,000 for a 2 bedroom 2.5 bath townhouse in Madison Commons
* $499,900 for a 3 bedroom 2.5 bath townhouse in Rosewood at Madison
* $499,900 for a 3 bedroom 1.5 bath single family in Ardsleigh
* $539,900 for a 3 bedroom 2 bath single family home in Knollwood
* $580,000 for a 3 bedroom 2 bath single family home in Ridgedale
* $645,000 for a 4 bedroom 2 bath single family home in Oak Knoll
* $659,000 for a 3 bedroom 1.5 bath single family home in Orchard
* $739,000 for a 4 bedroom 2.5 bath single family home in Hill Section
* $849,000 for a 4 bedroom 2.5 bath single family home in The Hill
* $1,599,000 for a 5 bedroom 5 bath single family home at The Hill at Madison

.Reference resource: Click Here.