The late 1860s and 1870s were a period of breakneck railroad construction and consolidation. Although it is commonplace to dwell on the completion of a transcontinental rail line in 1869, the extensive reconstruction and expansion of southern railroads destroyed during the Civil War was of equal importance.
Originally Posted by snopes. Comment: there is this rumor that keeps circulating around Monmouth county. New Jersey, that when selling your house and relocating out of state, that. you have to pay a New Jersey Exit Tax-up to 1% of the sell price....what.
Then there is the NonResident Seller's Tax Declaration (form GIT/REP1) for out-of-state residents who MUST pay a minimum 2% tax to NJ for the sale of any property. (Note that this 2% minimum is on the consideration listed on the deed-NOT 2% on the gain on the property.