Does Transfer Tax apply for constructing a new home on existing property? Ower remains same!I own the property (home) for last six plus years. It has been rented out so far. Now I'm planning to costruct a new home on this lot (demolish the old one that is rented out). Therefore the owner is not going to change (i was the owner and will remain as owner). Do i have to pay the transfer tax? Property is in New Jersey.Thanks,NimeshOctober 25 2012 - Wayne00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.