Seasonal Rental Taxes

On June 27, 2018, as part of the budget process, the New Jersey State Legislature attempted to add a seasonal sales tax on rental properties. Realtors understood that adding a seasonal sales tax to rental properties could have decimated the tourism industry after we battled for five years after Superstorm Sandy to recover. In fact, according to a 2015 Oxford Economics study, the Garden State could lose approximately $100 million in economic activity and an immediate loss of $20 million in tax revenue if a sales tax were enacted. Through strong advocacy and engaging our members, the Realtors were able to defeat this measure and will continue to fight against any future attempts at such a tax.