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New Jersey Legislature approves $58.8 billion budget with higher gambling, smoking, home sales taxes

Higher taxes on internet gambling and sports betting, vaping and smoking, and the sale of high-end homes are pillars of the $58.8 billion budget passed by New Jersey lawmakers Monday.

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The Democratic-controlled Senate and House of Representatives in New Jersey passed the latest annual budget at the end of June, increasing the original record-breaking proposal by more than $400 million, bringing the total to $58.8 billion. This budget, coupled with a series of new tax plans, is expected to increase the tax burden on smokers, online gamblers, and high-priced real estate traders. The Democrats support Murphy's budget with tax inc…

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NJURBANNEWS broke the news in on Monday, June 30, 2025.
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