Tax incentives and/or other incentives for drivers of electric vehicles in Monteagle.
A low-speed vehicle is any four-wheeled electric vehicle, excluding golf carts, that achieves speeds of at least 20 miles per hour (mph) but not more than 25 mph. Low-speed vehicles may access roadways with speed limits of up to 35 mph. A medium-speed vehicle is any four-wheeled electric or gasoline vehicle that has a maximum speed of over 30 mph, but not more than 35 mph. Medium-speed vehicles may not operate on interstate highways or on any road or street that has a posted speed limit greater than 40 mph. Low- and medium-speed vehicles must comply with the safety standards in Title 49 of the Code of Federal Regulations, section 571.500.
(Reference Tennessee Code 55-8-101 and 55-8-191)
In addition to standard registration fees, EV owners must pay an annual fee of $100. Annual EV registration fees increase according to the following schedule:
| Years | Annual EV Fee |
|---|---|
| 2024 to 2026 | $200 |
| 2027 | $274 |
| 2028 and later | $274, adjusted for annual inflation |
In addition to standard registration fees, hybrid electric vehicle (HEV) and plug-in hybrid electric vehicle (PHEV) owners will be subject to the following annual fees:
| Years | Annual HEV and PHEV Fee |
|---|---|
| 2024 to 2028 | $100 |
| 2028 and later | $100, adjusted for annual inflation |
Low-speed and medium-speed vehicles are exempt from the fee.
(Reference Tennessee Code 55-4-116)
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