$5,000 in 2023 Tax Rebates For Electric Vehicles in Massachusetts– See Which Vehicles Qualify!

$5,000 in 2023 Tax Rebates for electric vehicles will be arriving in Massachusetts. In this article, read and find out which electric vehicles are eligible for these tax rebates!

Beginning July 1, several changes for the electric vehicles rebate program in Massachusetts (MOR-EV) will take into effect. The Department of Energy Resources (DOER) states that the first change will authorize buyers of the electric vehicles to deduct the 2023 Tax Rebates amount off of the price of the car. Reportedly, this change will be an advantage to buyers who cannot wait longer for reimbursements.

According to Fuller, in addition, there will be an extra 2023 Tax Rebates worth $1,500 to be provided for those drivers who earn low incomes. The guidelines for incomes are not decided yet, however, those who are eligible will receive a base payment worth $3,500 on top of the $1,500. This means that an eligible recipient may be able to receive up to a total of $5,000.

Furthermore, another extra 2023 Tax Rebates worth $1,000 will be provided to those drivers who are trading in vehicles. The DOER states, however, that drivers who are trading in vehicles with market value that has an internal combustion engine that is not an electric vehicle will not be eligible for the tax rebates.

READ ALSO: $7,500 In EV Tax Credit 2023— See Which Electric Vehicles Qualify!

Electric Vehicles Eligible for the 2023 Tax Rebates

According to Vanderspek, unfortunately, not all changes made to the 2023 Tax Rebates will benefit the residents of Massachusetts. This is because plug-in hybrids will no longer be eligible for the tax rebates.

In addition, residents who lease or own a battery-powered electric vehicle that costs less than $55,000 can be eligible for the 2023 Tax Rebates worth $3,500. On the other hand, plug-in hybrids that are less than $50,000 will receive tax rebates worth $1,500. To claim these tax rebates, it is required to fill in an application that must be submitted within 90 days of purchase of the vehicle.

READ ALSO: EV Tax Credit 2023: How Do Electric Vehicles Manufacturer Qualify For Them