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The 3 percent toll hikes were originally approved in 2020. The latest hike was adopted on Tuesday, Oct. 25 as part of the 2023 budget, according to New Jersey Turnpike Authority spokesman Thomas Feeney.
The $2.5 billion 2023 Turnpike Authority budget increased by 7.4% over 2022.
The increase was attributed to “pressures on discretionary travel and costs due to an inflation rate of 8.3%, a level not seen in 40 years," the authority said in a memo.
"The 2023 Annual Budget continues the mission contained in the Strategic Plan. This mission is to prudently manage the finances and operations of the Authority to provide our customers with a safe, efficient, innovative, and resilient toll road system. . . ,'' the memo said.
The newest toll increase is effective on Jan. 1, 2023.
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