By Jennifer Pento, includes “The term ‘exit tax’ has generated much confusion among New Jersey residents selling their homes to move out of the state.  … It is not an additional tax, but merely a pre-payment of potential income tax due from the sale of the home. … The New Jersey ‘Exit Tax’ is a misnomer, but still needs to be taken into consideration if you plan on selling your home and leaving the state. Additionally, New Jersey imposes a Realty Transfer Fee and both New Jersey and New York enforce the mansion tax …”