NEW JERSEY — New Jersey’s tax on new-and-used vehicles will rise to $2.5 million per vehicle, up from $1.5M in 2019, under a bill the governor signed Tuesday.
Chris Christie signed legislation that will raise the minimum wage and make state services like health care and transportation more affordable for New Yorkers.
New York state, which will increase its minimum wage, also will increase the tax.
The legislation also raises the property tax in New Jersey, which is already one of the highest in the nation, to 5% from 4.5%.
The increase will bring New Jersey into line with states such as Massachusetts, which have a minimum tax of 5%.
New Jersey will also be among the states to add the minimum-wage hike to its existing tax code.