Considering Electric Car? Better Hurry, Tax Exemptions End June 1st
A few years ago, Washington state passed legislation providing big tax incentives for those who chose to purchase an electric vehicle. At that time, the cost was more prohibitive than now. Although the prices have come down somewhat, in general they still represent a higher cost than many economy vehicles.
As the state has just passed the 7,500 mark for electric cars licensed in WA, these tax breaks will come to a screeching halt June 1st.
According to the Tacoma News Tribune, if people buy an electric car and it's licensed and insured by that date, they can still take advantage of the breaks. For many that was the main reason they purchased one.
The vehicle must have a base model retail price of $42,500 or less, it must meet the criteria set forth by the Department of Licensing, and has to be delivered to the owner by May 31st. Exemptions apply up to $32,000, meaning a significant savings for the owner, depending upon the vehicle.
However, despite Gov. Jay Inslee's ambitious goals to have everyone puttering around in electric cars, the 7,500 so far pales in comparison to the original goal set by the Department of Transportation and Inslee. The WSDOT Electric Vehicle Action Plan put forth in 2015 hoped for 50,000 of these cars on the road by 2020. 7.500 in 2018 shows outside of King, Pierce and Snohomish County, electric vehicles are just not catching on.