The Lynnwood City Council has approved new utility taxes to help bridge a potential $4.8 million budget gap.

Starting July 1, the new 4 percent tax will be levied on companies that provide electricity, water, gas and sewer services. Whether or not those companies will pass on the tax to consumers remains to be seen for sure.

Council members also raised the tax on cable TV providers from 1 percent to 4 percent. They did not raise the current six percent tax on garbage or telephone services.

The new taxes are expected to generate about $1.4 million in 2010.

The Council also is considering creating a Transportastion Benefit District to bring in even more revenue. (It could be a new vehicle registration fee or a sales tax increase). A public hearing on that is scheduled for Monday night, April 26.