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What it is based on, value of vehicle? And is it a %? It would be Davidson County, if that makes a difference. Just curious what it would cost to register a vehicle. I have a cousin moving there, Thanks in advance for your help!
What it is based on, value of vehicle? And is it a %? It would be Davidson County, if that makes a difference. Just curious what it would cost to register a vehicle. I have a cousin moving there, Thanks in advance for your help!
Info I wouldn't mind knowing too since I just moved to NC this weekend. Most of the time, I think the property tax is based on the KBB value of your vehicle.
Vehicle and other property taxes are assessed at the local level--each county has its own rate, and if you live in a city/town their rate is added as well. The rate is applied to the vehicle's tax value, which is provided by a third-party appraiser hired by the state. I don't know about Davidson County, but in Forsyth County the annual tax rate is .674 per $100 value, so a $20,000 car would have a tax bill of about $135.
By the way, the tax value is not based on KBB, but it should be close to "retail" used.
NC also charges a highway use tax which for personal vehicles is 3% of the sale price. It's on top of the county property tax and I'm pretty sure it's part of the registration fee when you go to the tag office to register the vehicle in your name.
The Highway Use Tax (HUT) is a one-time state tax when registering a vehicle with the DMV. However, newcomers get a break on the HUT. The maximum HUT is $150 per vehicle for those new folks moving into the state. There is no sales tax on motor vehicles purchases in NC.
Davidson county sets motor vehicle values every January based on information from Tax Equity Consultants, a pricing company that uses the vehicle identification number (VIN) to determine the value. After all the information is compiled, a tax bill is prepared for local personal property taxes.
Reference:
19A NORTH CAROLINA ADMINISTRATIVE CODE 03C .0436 HIGHWAY USE TAX
Used vehicles are taxed by the schedule of values published by Tax Equity Consultants, Inc., P.O. Box 4388, Cary, North Carolina 27519-4388, including all subsequent editions and amendments. A copy of their publication may be obtained at a price of forty dollars ($40.00).
History Note: Authority G.S. 20-39; 105-187.3;
Eff. November 1, 1991;
Amended Eff. January 1, 1994.
NC charges no state tax but does charge the HUT when the vehicle is registered to the owner. There is no state property tax but the counties do charge property tax yearly and as arbyunc said, the rates vary. Here's the link, and below is the info regarding the HUT for out-of-state residents. http://www.ncdot.gov/dmv/vehicle/title/tax/
If the vehicle is owned for LESS than 90 days before applying for an NC Title, tax credit against the Highway Use Tax due will be allowed for the amount of tax paid to another state, upon submission of proof of payment.If the vehicle was titled in NC after 90 days of purchase from a dealer, no credit is allowed. Full Highway Use Tax will be due on the purchase price, less any trade-in credit.
If the vehicle is owned for MORE than 90 days prior to registering in NC, you will be taxed on the vehicle’s value, up to a maximum of $150.00 tax.
Exemptions do not apply on vehicles where an assignment is made on an out-of-state title. Highway Use Tax is due on the value of the vehicle.
Last edited by laneynewport; 10-02-2012 at 08:30 AM..
Reason: wasn't finished
So yearly you pay tax & registration, correct? Could someone tell me what kind of vehicle they have & what they paid this year? So that would be on boats, etc., right?
Thank you all for your help.
NC charges no state tax but does charge the HUT when the vehicle is registered to the owner. There is no state property tax but the counties do charge property tax yearly and as arbyunc said, the rates vary. Here's the link, and below is the info regarding the HUT for out-of-state residents. NCDOT: Highway Use & Property Taxes
If the vehicle is owned for LESS than 90 days before applying for an NC Title, tax credit against the Highway Use Tax due will be allowed for the amount of tax paid to another state, upon submission of proof of payment.If the vehicle was titled in NC after 90 days of purchase from a dealer, no credit is allowed. Full Highway Use Tax will be due on the purchase price, less any trade-in credit.
If the vehicle is owned for MORE than 90 days prior to registering in NC, you will be taxed on the vehicle’s value, up to a maximum of $150.00 tax.
Exemptions do not apply on vehicles where an assignment is made on an out-of-state title. Highway Use Tax is due on the value of the vehicle.
So yearly you pay tax & registration, correct? Could someone tell me what kind of vehicle they have & what they paid this year? So that would be on boats, etc., right?
Thank you all for your help.
Motor vehicles and motorcycles, boats, airplanes, campers, travel trailers, mobile homes and personal watercraft. Permanently tagged trailers are considered as personal property and must be listed also.
I copied and pasted instead of retyping the info re: boats but here's the link b/c there's some other good info there as well. NCDOT: Other Vehicle Types to Register
NC Wildlife Resources Commission
Water Craft, such as boats or jet skis, are not registered with the DMV, but they are registered with the North Carolina Wildlife Resources Commission. For more information on registering your water craft visit their website.
To answer your question, I have a 96 Explorer and pay 36 dollars a year for property tax. I have no idea what it's based on but it's low enough that I've never bothered to find out. And back to vehicles, yes- every year before your car registration expires you have to take it to get it inspected. When it passes, the inspection station puts the info online and then you can take your current registration to one of the tag offices to renew it for the next year. The tax bill for the car will come in the mail yearly- it's not paid upon renewing registration but you can pay it online so at least it doesn't require another wait in line and it just takes a couple of minutes : )
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