New Jersey just signed a law approving a punitive new EV registration fee – and at $250, it’s the highest in the country. The EV registration fee kicks in July 1, and then rises by $10 each year before it caps out at $290 in July 2028.
Plus New Jersey new car purchases require a four-year upfront registration, so that’s more than $1,000 for new EV purchases. Your new EV will be exempt from state sales tax and you get the federal Inflation Reduction Act upfront tax credit of $7,500. The state funding that provided incentives of up to $4,000 for the purchase or lease of new EVs for 2022, 2023, and 2024? Afraid that’s already tapped out. Or as the state puts it, “temporarily unavailable.”
