New Jersey residents set to pay more as Governor Phil Murphy prepares to sign new 'rain tax'
New Jersey, one of the highest taxed states in the country, is set to shell out more tax money — when it rains! Residents and businesses of the Garden State will be taxed for a rainy day as Governor Phil Murphy is poised to sign a "rain tax" bill. The law was reportedly passed by the state legislature in January.
The new bill calls for the creation of local or regional stormwater utilities, giving local counties and municipalities the power to collect a tax from properties with large paved surfaces such as parking lots, according to CBS2. The law reportedly permits each of the state's 565 municipalities to set up its own public stormwater utility. The new bureaucracies will build and manage sewer systems to treat pollutant-filled stormwater runoff, according to reports.