NJ: Here Are 4 Tax, Rate And Toll Hikes You May Not Know About

New Jersey is continuing to work on a budget that doesn't raise income taxes for most residents. But there are at least four new fees, rates, taxes and other levies in the pipeline that could make you cough up more to live and travel in and out of the state.

Chances are, you may not have known about them. The utility and toll hikes were approved by agencies – such as the Board of Public Utilities – that do not have standing-room-only attendance.

Two other potential tax hikes are part of Gov. Phil Murphy's budget proposal, so they need approval from the state Legislature.

Some of the rate hikes will be coming at you when you might least expect it – such as June 1, when several utility companies are expected to raise their rates.

Here's what you'll have to pay for:

Utility bill hikes

The New Jersey Board of Public Utilities recently approved the results of the state’s electricity auction, which determines the cost of electricity for most residents and many businesses for a twelve-month period starting June 1, 2019.

As a result, the monthly bill for PSE&G will increase 35 cents for a customer using 650 kilowatts per month, while Atlantic City Electric bills will jump 90 cents. JCP&L bills will decline $2.03 per month, according to the BPU. Those bills will increase on June 1.

New Jersey Natural Gas, meanwhile, has asked for a base rate case that includes "necessary cost recovery" for operational and maintenance enhancements, as well as investments in safety and environmental priorities, the company says. NJNG serves customers throughout Monmouth, Ocean, Morris, Middlesex and Burlington counties.

If approved in full, the monthly bill for a typical residential heating customer would go from $101.89 to $121.27, an increase of $19.38. If approved, you probably won't have to pay for it until toward the end of the year.

New York toll hikes – for New Jersey drivers

Tolls at the Metropolitan Transit Authority's seven bridges and two tunnels, for those who use an E-ZPass issued by New York, increased 6 percent on Sunday. But tolls for those who do not have an E-ZPass from New York rose by 11.8 percent, according to the MTA.

The Verrazzano-Narrows Bridge is free in the eastbound direction, but new westbound tolls will be $12.24 for New York E-ZPass and $19 for others.

Corporate responsibility fee

The 2020 budget proposes a "Corporate Responsibility Fee" of $150 per employee for large employers with more than 50 employees relying on Medicaid for health care, according to Gov. Phil Murphy's budget address.

This fee would incentivize employers to provide benefits, and ensure that everyone pays their fair share for the Medicaid coverage that taxpayers support, Murphy said.

It's not yet known, however, how much this could cost the individual taxpayer.

Millionaire's tax

Murphy has asked the Legislature – which has been reluctant to go along with the idea – to work together to apply the millionaire's tax to every millionaire. "By doing so, we can do more to relieve the burden on middle-class taxpayers and senior citizens who are taking it on the chin from the Trump Administration's tax scam," he said.

Murphy said the state needs to restore "tax fairness" now that the Trump administration has taken steps to cap state and local tax deductions.

"Right now, across the state, countless middle-class families are doing their taxes and wondering where the tax cuts they were promised by President Trump and his enablers went," Murphy said. "Many barely felt the impact in their take-home pay, and now they're getting less back in their refunds."

Legislative leaders were already throwing water on the idea.

Assembly Speaker Craig Coughlin, D-Middlesex, said he remains convinced "that we can achieve added substantial savings through reforms and that our fiscal solutions should not include any broad-based tax increase, including sales and income tax."

"We will continue to look for more government efficiencies and savings," he said. "I look forward to working with our caucus, our budget chair, Assemblywoman Eliana Pintor Marin, Senate President Steve Sweeney and the governor to deliver a responsible budget that makes New Jersey a more affordable place to live."

A millionaire's tax can help the state raise revenues, offset property tax increases and, as a result, "we can do more to relieve the burden on middle-class taxpayers and senior citizens who are taking it on the chin from the Trump Administration's tax scam," Murphy said."Let's be absolutely clear – this is not a tax that will be paid by anyone in the middle class. Period. Full stop," he said. "But, it is revenue that is necessary to strengthen and expand the middle class."