New Jersey Introduces Annual EV Fee, Punishing Owners Who Go Green
We examine a new law introduced in New Jersey that will initially impose a $250 annual electric vehicle registration fee and increase by $10 annually.
insideevs.com
Starting in July, New Jersey EV owners must pay an annual $250 road tax fee
in an effort to offset the state's loss in fuel tax revenue.
The new fee will increase by $10 each of the next four years until it reaches $290 in 2028.
To make matters worse, New Jersey requires buyers and leases of all new vehicles
to pay four years of registration fees upfront and the new EV fee will be included in that initial payment.
Therefore, beginning in July, any new electric vehicle purchased or leased in New Jersey
will cost $1,060 more than it does today.
That's considerably damaging since the higher initial cost of an electric vehicle
is one of the biggest impediments to EV adoption.