Christie: Scrap Realty Transfer Fees

SOMERSET, N.J. (AP) -

New Jersey Gov. Chris Christie said Tuesday at a town hall meeting that he’d do away with realty transfer fees, a major source of tax revenue, that cost a retired state trooper in the audience $5,435 after selling a house two weeks ago.

“Sorry you got hit like that,” Christie told retiree Scott Packwood.

Christie, a Republican, called the fee “a grab by the government for no good reason,” “awful,” and, sarcastically, “a great gift” from former Gov. James McGreevey, a Democrat.

The state has projected realty transfer fees will produce $287 million, the seventh-largest source of revenue but a small portion of the $34.4 billion budget.