If you live in New Jersey and drive a gas, diesel, or electric vehicle, you will soon have to pay more as the government looks to raise funds for new infrastructure projects.
On Tuesday, New Jersey Governor Phil Murphy signed a reauthorization of the state’s transportation trust fund. As it stands, the state’s taxes on gas and diesel-powered cars adjust automatically, depending on whether it reaches a $2 billion revenue target. A bill signed by Murphy will raise this target to $2.37 billion by July 2028 and is expected to add approximately 2 cents to the state’s annual fuel levies.

While owners of electric vehicles won’t need to pay this levy, the new legislation will create an annual registration fee for EVs of $250 on July 1, rising by $10 each year until it caps out at $290 in July 2028. This fee will funnel funds into the transportation trust fund and help to pay for road, rail, and bridge works.


Read Article

New Jersey Attacks EV Owners With New Fees

About the Author