Short answer
Yes. The Division of Taxation lists reduced rates for senior citizens, blind or disabled persons, and low and moderate income housing. For a price up to $350,000, the rate is $0.50 per $500 on the first $150,000 and $1.25 above that. The page I read did not list the qualification details, so ask the closing attorney.
The reduced rate table
The Realty Transfer Fee page has a separate schedule headed reduced rates for senior citizens, blind or disabled persons, and low and moderate income housing. For total consideration not over $350,000, the rate is $0.50 per $500 for the part from $0 to $150,000 and $1.25 per $500 for the part from $150,000 to $350,000. For consideration over $350,000, the schedule is $1.40, $2.15, $2.65, $3.15 and $3.40 per $500 across its price brackets, ending at $3.40 above $1,000,000.
What a $300,000 sale might look like
As an illustration only, using the same slice-by-slice reading of the table, a $300,000 price would be 300 units at $0.50 for the first $150,000, or $150, and 300 units at $1.25 for the next $150,000, or $375. That is about $525. The standard schedule on the same page works out to about $1,715 for the same price, so the difference could be over $1,000. Treat these as estimates, since your closing attorney will compute the fee on the actual deed.
What I could not confirm
The page presents the schedule but I did not find the age cutoff, disability proof or income rules for qualifying on that page. Do not assume you qualify. Ask the closing attorney or the county clerk's office what documents are needed. The Division's seller form, the Affidavit of Consideration for Use by Seller, is the place where the fee claim is made at closing, and the attorney or title company normally prepares it.
Timing matters
If a reduced rate could apply, raise it when you hire the attorney or choose a buyer, not at the closing table. Some paperwork may take time to gather. Also remember that other closing costs, such as the agent's commission if you list, can be much larger than the transfer fee, so weigh the whole picture instead of one line item.
Cash sale with no commission
Kaizen Home Buyers makes cash offers on New Jersey houses as-is, with no repairs and no agent commission. We can give an offer within 24 hours and close in 14 to 30 days or on the date you choose. Call 267-329-0084. Seniors who are downsizing often compare a cash sale with a listing, and a listing with an agent can bring a higher price when the house is in good shape. An attorney can help you total the costs on each side.