NJ Drivers Of Electric Vehicles Will Now Have To Pay An Annual Registration Surcharge Fee Of $250 Per Vehicle

Tuesday, July 9, 2024, 10:30 A.M. ET. 2 Minute Read, By Jennifer Hodges: Englebrook Independent News,

TRENTON, NJ.- Just when you think it couldn’t get any worse living in the State of New Jersey, N.J. Governor Murphy has done it once again. Last week, Murphy signed into law a new fee of $250 per year, going up an additional $10 per year with a cap of $290 for residents purchasing new electric vehicles (EVs).

     The new fee went into effect on Monday, July 1, 2024, and will require New Jersey drivers purchasing new EVs to pay an additional upfront fee of $1000 in addition to their regular four-year New Jersey motor vehicle registration fee, which all drivers pay.

     Murphy argued that the fee is needed to help fund improvements to New Jersey’s aging transportation systems, such as roads, bridges, and public transportation modes. Drivers of gas-powered vehicles already pay into the transportation fund through a state gas tax, which is currently at 42.3 cents per gallon. Under the new law, the gas tax is expected to climb an additional 2 cents annually over the next five years.

     Murphy is also proposing to phase out the sales tax exemption for electric vehicles, which has been in place since 2004. This would further raise the upfront purchasing cost of EVs by thousands of dollars.

     Once again, as New Jersey residents pay one of the highest property tax rates in the nation, and with inflation showing no signs of decreasing, Murphy once again penalizes residents for his administration’s wasteful and unnecessary spending by burdening them with another state tax.