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Jared Polis

Climate love

Coloradoโ€™s new EV state tax credits.

On May 11, Colorado Governor Jared Polis (D) signed House Bill 23-1272 into law. On page eight, it states that Colorado residents who buy or lease an EV with an MSRP up to $80,000 would receive a $5,000 EV tax credit starting July 1, 2023. The EV tax credit will decrease incrementally until 2029 starting January 1, 2025.
The state EV tax credit for new EV purchases is $2,000 and $1,500 for two-year leases. EVs under $35,000 MSRP will get a $2,500 tax credit starting January 1, 2024. Sorry to be a downer, but you have to pay taxes in Colorado to earn Colorado's EV tax credit.
You wish to acquire a Tesla Model Y Long Range with Dual Motor All-Wheel Drive. The model I chose costs $50,490 before state sales tax without any extras.
This model qualifies for the federal tax credit of $7,500 and Colorado's state tax credit of $5,000 starting July 1.
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https://electrek.co/2023/05/29/colorado-ev-state-tax-credits/
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Do you agree?

118 more agrees trigger scaled up advertising

  • zelda ninga

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    58 w

    This is encouranging others too to get EVs, it's a nice plan.

    11
    • Daniel Waweru

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      58 w

      This is great encouragement and motivation to transit to EVs, Withu such measures we are assured of faster transition

      4
      • Joyce Waturu

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        58 w

        This is an exceptional incentive for the Coloradans.It's just too good and might with time ensure a spike in the number of EVs in the state.

        4
        • Joseph Githinji

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          59 w

          A great support to use of EVs.

          14
        • Tabitha Kimani

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          59 w

          A great incentive towards EV acquisition.

          17
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