Hunterdon County deed transfers: December 24, 2015 - January 8, 2016. This site was created to provide simple and consistent access to our mapping and online . Used under license. Please contact our office at (908)788-1221 for more information regarding our services. Zillow, Inc. holds real estate brokerage licenses in multiple states. A sale between parent and child is an exempt transaction. Filing/Recording Fee Schedule for Hunterdon County Clerk's Office: Hunterdon County Recording Fee. Find Hunterdon County Housing Characteristics and Mortgage Characteristics. The real property transfer by the executor or executrix of an estate to anyone else not named in the will is not exempt. 20 Church St . County Office is not affiliated with any government agency. The Grantor makes no promises as to the ownership of title, but simply transfers whatever interest the Grantor has to the Grantee." Nearby homes similar to 1107 Spruce Hills Dr have recently sold between $175K to $430K at an average of $275 per square foot. A deed recording of this type is not entitled to the total exemption from the RTF. get driving directions from your location, Hunterdon County Sheriff's Office Website, Mortgage, Contract to Purchase, or Similar Debt, Deed and title searches in Hunterdon County, New Jersey. HUNTERDON COUNTY PROPERTY SALES - April 2021. Property Tax Lookup; Schools ; Trash & Recycling; Voting Information; Search. Division of Revenue and Enterprise Services. Documents. Third party advertisements support hosting, listing verification, updates, and site maintenance. Transfers are supplied byNJ Property Recordswhich collects the city, address, buyer names, selling price and seller information. Give it a try!!! However, if there is language contained with either the contract or deed documents that allows either lessor or lessee to "extend" the lease beyond the 99-year period, the transfer is taxable. Most of the township lies on the Hunterdon Plateau with only the eastern . Find Hunterdon County GIS maps, tax maps, and parcel viewers to search for and identify land and property records. ; Hammond Map G. For the purposes of the RTF law, "In specific performance of a final judgment" may not be used as an exemption. Coldwell Banker Realty - Flemington Office, Callaway Henderson Sotheby's International Realty, Berkshire Hathaway Homeservices New Jersey Properties, Home buyers reveal: 'What I wish I had known before buying my first home, Debunked! If you forget it, you'll be able to recover it using your email address. The purpose of the Recorder of Deeds is to ensure the accuracy of Hunterdon County property and land records and to preserve their continuity. In the year 2021 the property tax was $8,396. . Search Hunterdon County assessment records by district, location, owner name, block, and lot. Please switch to a supported browser or download one of our Mobile Apps. About this record. By definition, a lease of less than 99 years is not a deed for purposes of the Realty Transfer Fee. A senior citizen's partial exemption is a personal exemption. Checks Release $ 56.00 submitted must be in the proper amounts. If the total consideration or selling price exceeds $1,000,000, the grantees or buyers must remit the 1% fee. The County Clerk's Office is known as the "Keeper of the Records." ; West Jersey Deeds, Book AAA fol. There is no exemption conveying from one legal entity to another. Here are the real estate transfers recorded in Lebanon County for the first half of September. Help others by sharing new links and reporting broken links. View Hunterdon County Sheriff's Office webpage including dates of sales and general contact information. Real estate listings held by other brokerage firms are marked as IDX Listing. North of Mountain Drive Quit Claim Deed David H. and Vikki Ritchie to David H. and Vikki Ritchie for $0. It is designed to be a starting point to help parents make baseline comparisons, not the only factor in selecting the right school for your family. Hunterdon County Clean Communities. racist or sexually-oriented language.   2022 Tax Rate $3.067 Online Tax Information (click here) Tax Bills are mailed annually, typically mid-July, after the tax rate has been established by the Hunterdon County Board of Taxation. Search Hunterdon County assessment records by district, location, owner name, block, and lot. A deed recording of this type is entitled to the total exemption from the Realty Transfer Fee. The second form, called the Russel system, dates from 1955 to the present. Get community, sports, entertainment news, view photos and more on NJ.com. . Yes. Find Hunterdon County residential property records including deed records, titles, mortgages, sales, transfers & ownership history, parcel, land, zoning & structural descriptions, valuations, tax assessments & more. Apr 16, 2021. Create a password that only you will remember. Site Maintained by Division of Revenue and Enterprise Services, Governor Phil Murphy Lt. Flemington, NJ 08822 | View on Google Maps. Property Sales In Northern Hunterdon County, Holocaust Institute to host virtual book launch with author Jennifer Rosner on Friday, March 24, Invasive beetle causing widespread tree removals in Madison parks, Brooklake students preview 'High School Musical, Jr.' at Florham Park board meeting, Gov. Editors frequently monitor and verify these resources on a routine basis. Notifications from this discussion will be disabled. Newest Hunterdon County Real Estate Listings, Hunterdon County Single Family Homes for Sale, Hunterdon County Waterfront Homes for Sale, Hunterdon County Luxury Apartments for Rent, Hunterdon County Zillow Home Value Price Index, Do Not Sell or Share My Personal Information, 442-H New York Standard Operating Procedures. comments. Deeds, Mortgages, Liens & Judgments - 1990 to present. Municipal Management Software and Websites - GovSites by Spatial Data Logic . CountyOffice.org does not provide consumer reports and is not a consumer reporting agency as defined by the Fair Credit Reporting Act (FCRA). The user is on notice that neither the State of NJ site nor its operators review any of the services, information and/or content from anything that may be linked to the State of NJ site for any reason. Your account has been registered, and you are now logged in. Call NJPIES Call Center for medical information related to COVID: Realty Transfer Fees (RTF) Frequently Asked Questions. New homes are getting added all the time. Regardless of whether the spouses are receiving one or two deeds into each spouse's name, the intent of the parties matters. 4 Bd. Qualifying senior citizens aged 62 or older; On property that is low and moderate income housing. Instructions for its use are printed in the front of each index book. Once the name change is complete, provide a copy of this Certificate to the county recording officer and to the Realty Transfer Fee Unit, verifying that a confirmatory deed may subsequently be recorded without confirmatory deed being subject to the RTF. Google Translate is an online service for which the user pays nothing to obtain a purported language translation. Franklin Township is a township in central Hunterdon County, in the U.S. state of New Jersey.As of the 2020 United States census, the township's population was 3,267, an increase of 72 (+2.3%) from the 2010 census count of 3,195, which in turn reflected an increase of 205 (+6.9%) from the 2,990 counted in the 2000 census. The municipality is determined by postal zip code. Editor's note: Real estate transfers originate from public records compiled by the county clerk . Save your search and be the first to know. Nearly 250 properties change hands in October. Information deemed reliable but not guaranteed. Hunterdon County Building Inspections . 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Knox County Property Transfers. Visit Site. VIRGINIA COOPER - HUNTINGDON COUNTY - RECORDER OF DEEDS 223 Penn Street, Huntingdon, PA 16652 PHONE: 814-643-2740 FAX: 814-643-6849 . The offer of compensation listed above is made to, and can only be accepted by, participants of the multiple listing service in which this listing is filed. This does not have anything to do with the Realty Transfer Fee. The Hunterdon County Cultural and Heritage Commission. West Jersey Deeds, Book BBB fol. The RTF laws were not meant to be a guide for business decisions. Certificates of Merger are filed in duplicate with the Division of Revenue and Enterprise Services. You may not use this site for the purposes of furnishing consumer reports about search subjects or for any use prohibited by the FCRA. What follows is a list of property transfers greater than $1,000 for the weeks of June 3, 10, 17 and 24, 2019. The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Search Hunterdon County property assessments by tax roll, parcel number, property owner, address, and taxable value. See property listings from your town. 2023 IMPORTANT ELECTION DATES. http://gis.co.hunterdon.nj.us/HC_ParcelViewer.html. View Hunterdon County Sheriff's Office webpage including dates of sales and general contact information. Real estate listings held by other brokerage firms are marked as IDX Listing. Record the deed in the correct county. Phone (908)788-1166 Fax (908)806-4624. Property sales history, zoning, title documents, square footage of commercial properties & more. The median property tax in Hunterdon County, New Jersey is $8,523 per year for a home worth the median value of $446,700. Browse data on the 8822 recent real estate transactions in Hunterdon County NJ. First, be sure that it is a true quitclaim deed. Rain showers this morning with overcast skies during the afternoon hours. 4 Photos. Find Hunterdon County residential property records including property owners, sales & transfer history, deeds & titles, property taxes, valuations, land, zoning records & more. Third party advertisements support hosting, listing verification, updates, and site maintenance. Hunterdon County Property Records (tax1.co.monmouth.nj.us) Hunterdon County Property Tax Exemptions (www.state.nj.us) Hunterdon County Sheriff's Office Website (www.co.hunterdon.nj.us) . They offer a useful booklet called House Plans for $1.50. The transfer is not subject to the transfer fee if there is no other consideration. Your e-mail address will be used to confirm your account. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC retains all rights, title and interest in and to its trademarks, service marks and copyrighted material. that is degrading to another person. Get Property Records from 3 Assessor Offices in Hunterdon County, NJ. 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Some of the hottest neighborhoods in Hunterdon County are The Heights, Richmond, Fishtown, Point Breeze, Cobbs Creek. It provides a glossary of terms used in deeds that is especially helpful with old deeds. Nearly 250 properties change hands in October. Note the signatures; before c.1916 a married woman was interviewed apart from her spouse to determine that she was not forced to agree to the sale. -Read Full Disclaimer. Hunterdon County Property Tax Exemptions Table of Contents. For individuals transferring property in New Jersey that is not subject to the Gross Income Tax estimated payment requirements, a Seller's Residency Certificate/Exemption needs to be submitted. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. This snapshot of real estate sales, based on deeds transferred during this period, is compiled from public records. The recycling depot is open for residents 7 a.m. to 4:30 p.m. weekdays and 7:30 a.m. to 1 p.m. Saturdays. Such a parent adopted child relationship satisfies the parent-child relationship requisite, because an adopted child is the legal child of the parent. Tax Collector Pages. For a complete list of rates, visit the Hunterdon County Clerk webpage. An additional fee of $20.00 will be charged for documents submitted without it. comment. The 1% fee is not imposed if the real property is transferred to a purchaser that is an organization determined by the IRS to be exempt from federal income tax, pursuant to the federal Internal Revenue Code of 1986, or if the transfer meets the requirements of New Jersey's exempt transactions. Some clouds. This information is being provided for Consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing. Phone: (908) 788-1221. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. Popularity:#5 of 21 Recorders Of Deeds in New Jersey#120 in Recorders Of Deeds. Two terms one needs to know are grantor (seller) and grantee (buyer). When a corporation changes its name, it files a Certificate of Amendment with the Division of Revenue and Enterprise Services. All Rights Reserved. Terms and Conditions. Hunterdon County Sheriff and Jail. Don't Threaten. By Express-Times Staff. Posted on January 30, 2023. . Wayne Township farm property sells for $1.28M. Aug 12, 2020. Table of Contents. Be prepared for your search. Public Record Requests Hunterdon County Make request All requests One-half of the consideration is exempt as between parent to child. Effective May 1, 2017, a cover sheet or an electronic synopsis will be required with all land documents submitted for recording. New Jersey Hills Media Group Editor. Would you like to receive our daily news? 908-788-1214 | fax: 908-782-4068. As a result of those transactions, Gentile turned over to the Carbon County General Fund the sum of $50,262.37. Real estate listings held by other brokerage firms are marked as IDX Listing. Hunterdon Board of Taxation County Maps Editor's note: Real estate transfers originate from public records compiled by the county clerk of each county. person will not be tolerated. By submitting this form you agree to our Privacy Policy & Terms. Hunterdon County Assessment Rolls . This has the effect of a protest of a deficiency of fee payment filed on the date on which the deed is recorded. Homepage photos by Dave Norton. $.50/$500 of consideration not in excess of $150,000; $1.25/$500 of consideration in excess of $150,000 but not in excess of $350,000. For Sale - 6 South Ct, Union Township, NJ - $229,900. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. Fast, Easy and Secure payments from your checking or savings account or credit card. Get an email notification whenever someone contributes to the discussion. The data displayed relating to real estate for sale comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. This screen shows the complete catalog entry of the title you selected. Township Alerts - View All. 8 myths about renting you should stop believing immediately, 6 ways home buyers mess up getting a mortgage, 6 reasons you should never buy or sell a home without an agent, Difference between agent, broker & REALTOR, Real estate agents reveal the toughest home buyers they've ever met, Before You Buy, Look for Red Flags in the Neighborhood, Do Not Sell or Share My Personal Information. Hall of Records - 71 Main St / PO Box 2900, Flemington, New Jersey 08822-2900. Get all our news direct to your mailbox and your inbox. https://www.nj.gov/labor/lpa/industry/bp/bp_index.html Begin typing to search, use arrow keys to navigate, Enter to select, Do Not Sell or Share My Personal Information. Unless there is a listed exemption from the RTF, the fee must be paid. NJ law states that: The partial exemption from the RTF is to be granted only on that portion of the sales price attributable to the residence and the land necessary for the fair enjoyment of the house (curtilage). County Clerk / Recorder admin September 7, 2021 December 7, 2022. DEEDS.COM INC. 1997 - 2023 ALL RIGHTS RESERVED | (330) 606-0119 | P.O. Record the deed in the correct county. Funding has been made possible in part by: Hunterdon Countys Claim to a Popular Drink, The Deats/Thatcher Collection: An Interview with Dr. Richard Veit, Hunterdon Countys Native American Heritage, Tuccamirgans Pipe Rediscovered in HCHS Archives, Please email Pam Robinson, HCHS Librarian at hunterdonhistoryinfo@gmail.com, The Hunterdon County Board of Chosen Freeholders. Recorder, Clerk and Elections. Find deeds, titles, and mortgages for individuals. No. All Hunterdon County deeds are located in the office of the County Clerk in the Hall of Records, 71 Main Street in Flemington. 1 Bath. It is organized alphabetical by surname (last name). Check with the applicable school district prior to making a decision based on these boundaries. Sharon Fisher Heir David Jones Heir Jared Jones Estate to Amanda Buckland, $290,000.00, Charles Town Dist. Kevin Wilson - Franklin County Clerk & Recorder. Transfers are supplied by NJ Property Records which collects the city, address, buyer The bulk of them date from around 1800, but there also are several from the 1700s. Threats of harming another Clerk. The Huntingdon County Mapping Department is responsible for implementing a County-wide Geographic Information System (GIS). High 44F. No. Find 6 Recorders Of Deeds within 35.4 miles of Hunterdon County Recorder of Deeds. Box 2900. Franklin County Campbell Building 901 Public Square Benton, IL 62812. . ADDITIONAL REQUIREMENTS We'd love to hear eyewitness The partial exemption should be granted only on the percent of the entire sales price attributable to the residence. 22 Monsey Rd. Hunterdon County Home, Property, and Demographic Data . Richland County Property Transfers: 1009 Park Ave. West sold for $6.8 million. Central Florida Property Management of Ocala LLC to JMB Management Trust LLC: $100,000. An email message containing instructions on how to reset your password has been sent to the e-mail address listed on your account. View map of Hunterdon County Recorder of Deeds, and get driving directions from your location. The consideration upon which the RTF would be calculated is determined by adding two-thirds of the mortgage ($40,000) to the consideration he pays his brother and sister ($200,000), or $240,000. The Director's Ratio, also known as The Average Ratio Assessed to True Value, can be found in the certification of the Table of Equalized Valuations, promulgated by the Director of the Division of Taxation on or before October 1 in each year. They are a valuable tool for the real estate industry, offering both buyers and sellers detailed information about properties, parcels and their owners. The revenue stamp represents $2 per $1,000 of the purchase price . $175,000 Last Sold Price. Keep it Clean. Franklin County deed transfers: Oct. 16-22, 2022 Browse all land for . Record anything unusual in the recital, such as what is included or excluded in the sale. * For deeds transferring new construction, the words "NEW CONSTRUCTION" must be printed or typed clearly in upper case letters at the top of the deed as well as on the Affidavit of Consideration. Search Hunterdon County property assessments by tax roll, parcel number, property owner, address, and taxable value. Suggest Listing Please note: The library is open by appointment only Tuesdays (except the 2nd Tuesday of each month) and Thursdays, 12 noon to 4 pm. The transfer of property by an executor to the named devisees or legal heir(s) in a will is exempt. No. Hunterdon . These can be obtained either on the tax bill or at the Assessors office in the municipality where the property is located. Be Truthful. A transfer of realty to a grantee in trust to hold the property for the benefit of other beneficiaries is subject to an RTF, since the grantor has divested them self of the benefits of ownership. Clinton Township Assessor 1225 Route 31 Lebanon, NJ 08833 908-735-5242 Directions. View Hunterdon County, New Jersey building permit information, including filing applications, making amendments, renewals, approval status, and inspections. Businesses dissolving or liquidating and transferring real estate must pay a Realty Transfer Fee on the remaining balance of any mortgages. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. They offer a useful booklet called House Plans for $1.50. Find Hunterdon County GIS maps, tax maps, and parcel viewers to search for and identify land and property records. Information found on CountyOffice.org is strictly for informational purposes and does not construe legal, financial or medical advice. Use the 'Report' link on 259. 9754 Hall of Records - 71 Main St / PO Box 2900, Flemington, New Jersey 08822-2900. 1,022 Sq. Flemington Borough is smoke free and tobacco free. Hunterdon County Property Tax Records. John Celebre to Chance Sterling Priess: $113,000. Chance of rain 60%.. View Hunterdon Board of Taxation municipal scanned tax map by municipality and most recent year submitted. 71 Main Street, Hall of Records Flemington, NJ 08822-2900 Phone: (908) 788-1221 or (908) 788-1214 Fax: (908) 782-4068 Email: [email protected] Office Hours: Monday - Friday, 8:00 AM - 4:45 PM. They are a valuable tool for the real estate industry, offering both . Hunterdon County. The county recording officer refuses to record the deed without payment of the RTF.The county recording officer is correct. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. Partnerships buying the interest of one partner must pay a Realty Transfer Fee upon the proportionate amount of a mortgage balance, if any. Please be advised that scour repairs to County Bridge R-43 (County Line Rd over Chambers Brook) are scheduled to begin on or about Monday, October 17th, and are expected to last 5 weeks (weather dependent).The road is expected to remain open except for temporary lane closures for movement of equipment and material deliveries. If you wish to report an issue or seek an accommodation, please, 442-H New York Standard Operating Procedures. http://www.co.hunterdon.nj.us/sheriff/sales.htm The CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC retains all rights, title and interest in and to its trademarks, service marks and copyrighted material. The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. New Jersey. MLS# 3831137. There are indices for both grantors and grantees. For total consideration not in excess of $350,000: See the Realty Transfer Fee Rate Schedule for no exemption, partial exemption, and new construction for total consideration not in excess of $350,000. Yes. 835 were here. Zillow Group is committed to ensuring digital accessibility for individuals with disabilities. The total consideration is the combined consideration of each deed together. A grantee claiming an exemption from the 1% fee in such instances, when the deed is offered for recording, must file a merger document in addition to an Affidavit of Consideration for Use by Buyer. All rights reserved. 0. The correct county is the one in which the land is located. Use the Director's Ratio for the year prior to transfer. Choose wisely! To determine the Realty Transfer Fee, calculate the Fee on the entire consideration and then divide it by one-half. This browser is no longer supported. View Hunterdon County, New Jersey property tax exemption information, including homestead exemptions, low income assistance, senior and veteran exemptions, applications, and program details. For older records or certified copies, contact the Clerk and Comptroller's Public Access Department. Directory. Deed room personnel are helpful in answering questions, but they are not there to do the work for you. Be Proactive. Don't miss out: Subscribe to our print and e-edition now. Those transfers are taxable transactions for Realty Transfer fee purposes. Country Gardens. . No. Suggest Listing The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed. View 22 Monsey Road, Flemington, NJ 08822 property records including property ownership, deeds, mortgages, titles & sales history, current & historic tax assessments, legal, parcel & structure description, land use, zoning & more. Our office is responsible for recording all Deeds, Mortgages, Assignments, Releases of Mortgages, Financing Statements, Maps, Military Discharges, Vacation of Roads, Certificates of Incorporation, Mechanics Liens, Trade Names, Building Contracts, etc. New Jersey law states a deed transferring real property from one legal entity to another legal entity that has common ownership is subject to the Realty Transfer Fee. http://gis.co.hunterdon.nj.us/HC_ParcelViewer.html Also, file an application for a refund of the county portion of the Realty Transfer Fee in the incorrect county (county recording office). Calendar. Hunterdon County Comprehensive Farmland Preservation Plan Update Public Meeting March 9 at 8pm. Winds NNW at 5 to 10 mph. All Hunterdon County deeds are located in the office of the County Clerk in the Hall of Records, 71 Main Street in Flemington. Service to query: In fiscal year: Click below to select valid payment dates: Deed room personnel are helpful in answering questions, but they are not there to do the work for you. Medina: 330.725.9754 Toll Free: 844.722.3800 ext. In addition, we have general supervision over all elections and are an Authorized Passport Agent offering full passport service processing. In non-deed transfers, a 1% fee is imposed on . * The text of the document should be Times New Roman font, at least 12 point size. Click to share on Facebook (Opens in new window) . accounts, the history behind an article. In business transactions, the key to the RTF calculation is the definition of "consideration." There were 985 properties sold in Hunterdon County, NJ, which spent an average of 86 days on the market. Limit of 5 free uses per day. Subdivision and Condominium Plats. Perform a free Hunterdon County, NJ public property records search, including property appraisals, unclaimed property, ownership searches, lookups, tax records, titles, deeds, and liens. Any such consent must be obtained in writing from the listing broker. 144 N. Broadway St, Medina, OH 44256. each comment to let us know of abusive posts. Hunterdon County, NJ. Maggie Allred, Content + Marketing Specialist. Hunterdon County Sheriff's Office Website Invalid password or account does not exist. Search recently sold MLS Real Estate & Homes in Hunterdon County, NJ, updated every 15 minutes. * Documents should be submitted on white paper that is at least 8.5 x 11 inches, but not larger than 8.5 x 14 inches. Prepare for your home search with recent sales, real estate comps, photos, and more. Land Multi-Family More filters Lot size. Clinton, New Jersey, Official Municipal Government website. To sign up today, contact Elizabeth Pagano or Kelsey McManimon via email at epagano @mercercounty.org or kmcmanimon@mercercounty.org respectively. Tax Collector Documents. 7 Ba. Phil Murphys $53.1 billion budget proposes a record high $20.5 billion in state school aid, Madison sixth graders receive Patriots Pen accolades, Morristown High School students to perform Cinderella March 24-26, Library of the Chathams inviting elementary schoolers on virtual trip around Ireland, Warren school board to revisit health curriculum, Mount Olive bullying expert sues suspended schools chief, others alleging stats were falsified, Mt. View details, map and photos of this condo property with 1 bedrooms and 1 total baths. Public records: Licking County property transfers. Signup today! This form is filed even if an exemption is claimed. View Hunterdon County current inmate records by name including charges description and bail amount. https://www.state.nj.us/treasury/taxation/lpt/lpt-seniordeduction.shtml Search property records for Catherine Hager. Photograph Courtesy of Dave Norton. Recreation. You are seeking to protect your investment by taking the property back and avoiding a sheriff's sale. In non-deed transfers, a 1% fee is imposed on the sale, for consideration in excess of $1,000,000, of a controlling interest in an entity which possesses, directly or indirectly, a controlling interest in classified real property, which shall be paid by the purchaser of the controlling interest; provided however that in the case of the sale or transfer of a controlling interest in an entity which possesses, directly or indirectly, an interest in classified real property and an interest in other property, real or personal, the 1% fee shall be paid only if the equalized assessed value of the classified real property exceeds $1,000,000 which shall be paid by the purchaser of the controlling interest and which shall be equal to 1% of the equalized assessed value of the classified real property that is equal to the percentage of the ownership interest transferred.