Surprisingly, under the Biden administration, affluent communities such as Martha’s Vineyard, Montauk, and portions of Nantucket have been designated as “low-income” regions. According to the Daily Caller, this designation entitles them to federal tax incentives for installing electric vehicle (EV) chargers.
The administration extended a subsidy program designed to provide access to EV chargers in marginalized neighborhoods in order to encourage the use of EVs.
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The project was just unveiled by the White House, with promises “up to 30% off the cost of the charger to individuals and businesses in low-income communities and non-urban areas.”
“The Department of Treasury and the Department of Energy are releasing intended definitions for eligible census tracts that will confirm that the Inflation Reduction Act’s 30C EV charging tax credit is available to approximately two-thirds of Americans. This tax credit provides up to 30% off the cost of the charger to individuals and businesses in low-income communities and non-urban areas, making it more affordable to install EV charging infrastructure and increasing access to EV charging in underserved communities,” the White House declared a month ago.
Surprisingly, this move has benefited the wealthiest regions of the country, whose median property values are far higher than the national average.
The U.S. Department of Energy’s (DOE) eligibility map shows which locations qualify for these subsidies, including Martha’s Vineyard, a well-known vacation retreat for the wealthy and powerful, where properties sometimes cost millions of dollars.
This categorization is based on a provision of the IRS law that permits communities, regardless of real wealth, to be classified as low-income if their median family income is less than 80% of the state or surrounding metropolitan area.
The designation has sparked discussion and controversy, especially in light of Martha’s Vineyard’s standing as a top tourist destination with well-known inhabitants like former President Barack Obama, whose mansion is estimated to be worth up to $12 million, according to NBC Montana.
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According to Daily Caller:
For example, the DOE’s eligibility map indicates that over half of the land area of Nantucket Island, a popular summer getaway for New England’s wealthy, qualifies for EV charger subsidies.
The DOE’s map also labels the Vineyard Haven district of Martha’s Vineyard, which is popular with the wealthy of New England, as a “low-income” neighborhood. Despite this categorization, the average value of a property in the neighborhood is considerably above $1 million, with some properties valued between $2 and $5 million. Notably, the former president Barack Obama has a sizable residence on the island valued at $11.7 million.
A sizable percentage of the wealthy Cape Cod region is eligible for “low-income” EV subsidies. This includes Great Island, which is well-known for its many multi-million dollar estates, and Hyannis, the former home of the Kennedy political family.
According to the Biden DOE, Fishers Island, New York, as a whole is classified as a “low-income” region that qualifies for subsidies. The isle is “an exclusive enclave where generations of old-money families gather to sail and golf,” The Wall Street Journal claims. The New York Post claims that dynastic American families like the Roosevelts, Rockefellers, and DuPonts have vacationed at Fishers Island in the past.
The DOE’s map shows that a significant portion of Montauk, a posh Long Island resort that is well-liked by wealthy residents of the New York City metropolitan region, is still eligible for “low-income” EV charger subsidies till 2029.
The “low-income” area of Montauk has remarkably high values. Zillow lists one house for $17 million, another for just less than $10 million, and still another for more than $6 million. Moreover, a large number of other nearby residences that qualify for EV charging incentives have values significantly higher than $2 million.
