Why Buyers Love Pennington NJ: Historic Charm, Trails & LocationOne of my favorite things about Pennington Borough is how much character you get without feeling disconnected. Tree-lined streets,
You Don't Need a Mansion to Pay the Mansion Tax
Dated: June 3 2026
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You Don't Need a Mansion to Pay the Mansion Tax
Think the New Jersey Mansion Tax only applies to luxury estates?
Not anymore.
In many Central New Jersey towns, a $1 million home is far from a mansion—but it can still trigger an additional tax at closing. Recent changes have shifted the cost to sellers and increased the rates on higher-priced properties.
Before you list your home, it's important to understand how these taxes impact your net proceeds and overall selling strategy.
Considering selling in Princeton or Central New Jersey? Let's run the numbers before you make a move.
Joshua Wilton
As the founder of Queenston Realty and The Wilton Group — the number one sales team in Princeton — I have been practicing real estate in the Princeton and Greater Princeton area for over 2....
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