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Motor vehicle property tax is based on the vehicle's current value which is published in a book. When you register your vehicle in NC, the state notifies the county of residence, they in turn calculate your tax and mail you a bill. I believe this is done within 3 months of registering your vehicle. Since the tax rate varies by county of residence, your best bet would be to contact your local tax office for further details.
To contact the Catawba County Tax Office Call:
Real Estate Assistance: (828) 465-8401
Tax Collector: (828) 465-8414
Motor Vehicles: (828) 465-8400
Located on the 1st Floor,
Government Center
PO Box 368
Newton, NC 28658
Open 8 AM - 5 PM, Monday through Friday
Any idea if a 69 corvette or camaro is in that book?
What happens if you leave your car registered in another state?
They can't do anything to you right?
You have up to 60 days to register your vehicle after becoming a resident in NC. I understand your concern with the property tax on your vehicle, but depending upon what state you are moving from, your car insurance would be much less. Between the two vehicles my husband and I have, we would be paying just a fraction of what we pay now. I think it gets very costly if someone was to own a very expensive vehicle like a brand new BMW. 1% (or whatever the county rate is) of a vehicle worth 60-80k is a lot more than just peanuts.
What happens if you leave your car registered in another state?
They can't do anything to you right?
You have up to 60 days to register your vehicle in NC. Keep in mind that the auto insurance is much less expensive (depending upon where you live now) so you may still be saving money even though you're paying the property tax on the vehicle. I think where it gets really costly is when someone is driving a fairly new and expensive vehicle like a BMW. The percentage on a 60 - 80k vehicle is more than just peanuts.
This really is too bad. My guess is they get you on other personal property like motorcycles & boats, too?
For those of us moving from other states ... we have already paid sales tax on our vehicle purchases - so won't they be taxing us twice? Also, we have to pay 1% of our vehicle's worth for EVERY YEAR WE LIVE IN NC?! So the longer I keep my "just for fun" convertible, the more I get taxed for it?
Since I don't live there yet and am equally intrigued by Davidson and Fort Mill (SC) - does anyone know if South Carolina has the same or similar tax?
I'm not saying I'd move just because of a vehicle tax - but we have to let the politicians know our dislike of this and other policies every way we can.
This really is too bad. My guess is they get you on other personal property like motorcycles & boats, too?
For those of us moving from other states ... we have already paid sales tax on our vehicle purchases - so won't they be taxing us twice? Also, we have to pay 1% of our vehicle's worth for EVERY YEAR WE LIVE IN NC?! So the longer I keep my "just for fun" convertible, the more I get taxed for it?
Since I don't live there yet and am equally intrigued by Davidson and Fort Mill (SC) - does anyone know if South Carolina has the same or similar tax?
I'm not saying I'd move just because of a vehicle tax - but we have to let the politicians know our dislike of this and other policies every way we can.
Every state taxes their residents by some means in order to support government services at the state, county and city level. There is nothing unique or special about North Carolina in this regard. North Carolina state & local taxation is only ranked as average compared to the other 50 states. Sales and income taxes are paid to the state, while property taxes are paid to the county and city (if you live within city limits).
In NC, all motor vehicles (tagged & Untagged) along with trailers, boats, which includes jet skis, and airplanes are considered personal property the same as homes and land. The more you own, the more you pay. Each one of NC's 100 counties set their own tax rate. Your tax rate will depend on the specific county you choose to live. The property tax rate could be high, low or something in between. I can tell you that out of the 100 counties, Mecklenburg County's property tax rate is within the Top Ten highest. If you are looking for low taxes, Mecklenburg County or even North Carolina is not the place to be.
Someone in the South Carolina Forum will be able to give you the rundown on how SC generates government revenue.
This really is too bad. My guess is they get you on other personal property like motorcycles & boats, too?
For those of us moving from other states ... we have already paid sales tax on our vehicle purchases - so won't they be taxing us twice? Also, we have to pay 1% of our vehicle's worth for EVERY YEAR WE LIVE IN NC?! So the longer I keep my "just for fun" convertible, the more I get taxed for it?
Since I don't live there yet and am equally intrigued by Davidson and Fort Mill (SC) - does anyone know if South Carolina has the same or similar tax?
I'm not saying I'd move just because of a vehicle tax - but we have to let the politicians know our dislike of this and other policies every way we can.
mm34b makes a valid point. NC residents may be paying a property tax, but look at all the taxes we have to pay in NY. If anything, you will still be ahead because your car insurance will be significantly less than what it is now.
This is one of those instances where it looks like a bargain to me. In MA, you are assessed 2.5% of the value every year. For some reason, certain cars never dip below a fixed value.
For instance, I had a '92 Volvo wagon that MA was still assessing as worth $2800 when I got rid of it two years ago. I was about to challenge any of them to try and get that much for it My Model A Ford had a value of $100 and I got a $5 bill every year.
I strongly suspect that NC assesses similarly, but if anyone knows for sure, please let us know. In other words, if you have a '69 Corvette, it will be assessed as a '69 Chevy (its depreciated value of being nearly 40 years old) rather than its collector value. Sort of like what the insurance company would pay you if you don't have a special policy...
For folks who never had to pay such a tax, I can see where it is a little shocking. Coming from Taxachusetts as I do, it's less than what I was paying before.
Personal property is assessed at fair market value as of January 1st each year. - I do believe they use NADA, I did read somewhere how they come up with the value but can't remembver where, if and when do I will post it -
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My Model A Ford had a value of $100 and I got a $5 bill every year.
