SCI ITC South Fund, LLC v. Director, Division of Taxation

SMALL, P.J.T.C.

The plaintiff appeals from the denial of a refund for the “mansion tax” that it paid on recording a deed reflecting the transfer of a shopping center in Mount Olive, New Jersey on September 28, 2006. Section 8 of Public Law 2006, Chapter 33 codified at N.J.S.A 46:15-7.4 made the realty transfer fee (“RTF” or “mansion tax”) of 1% of the deed price applicable to commercial properties effective July 1, 2006.1 As part of the transition to the *208taxation of commercial properties not previously subject to the tax the statute provided that the tax would be inapplicable to the transfer…