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Old 09-02-2022, 04:45 PM
 
233 posts, read 237,372 times
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I searched the NC DMV website but wasn't able get a clear answer on this. I recently traded in my car for a newer one worth maybe 10k more than the one being traded in. I had the dealer transfer the license plate over to the new car. I just recently renewed my registration 2 or 3 months ago.

Will I owe any property taxes on the new car this year?
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Old 09-02-2022, 09:41 PM
 
Location: under the beautiful Carolina blue
22,668 posts, read 36,783,639 times
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Depends.... your property tax bill will come at the same time it does now.

I did the same thing a few years ago and my tax bill comes in June which is when I bought the car I traded in.

So if you bought the other car in December you'll get a bill this year, in December.
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Old 09-07-2022, 09:05 AM
 
Location: Raleigh, NC
6,820 posts, read 9,055,774 times
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Quote:
Originally Posted by inner_outer_440 View Post
I searched the NC DMV website but wasn't able get a clear answer on this. I recently traded in my car for a newer one worth maybe 10k more than the one being traded in. I had the dealer transfer the license plate over to the new car. I just recently renewed my registration 2 or 3 months ago.

Will I owe any property taxes on the new car this year?
The DMV does have a way to send questions through the website. They are helpful, but they are pretty busy. I asked a question about license plates. I got an answer in a few days. *However* last week I asked a different question and I'm still waiting for an answer. So your experience may be different.
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Old 09-08-2022, 07:08 PM
 
Location: Cary, NC
466 posts, read 700,115 times
Reputation: 475
No you're fine until the plates renew next year when you'll pay the property tax on your new car with a year's depreciation baked in.

This is actually the best way to play the system -- renew your plate then buy a more expensive vehicle.

If you buy a new car and get a new plate then you do pay property taxes on the new purchase.
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Old 09-08-2022, 10:37 PM
 
233 posts, read 237,372 times
Reputation: 446
Quote:
Originally Posted by JMMH View Post
No you're fine until the plates renew next year when you'll pay the property tax on your new car with a year's depreciation baked in.

This is actually the best way to play the system -- renew your plate then buy a more expensive vehicle.

If you buy a new car and get a new plate then you do pay property taxes on the new purchase.

Exactly what I was hoping to hear! Thank you
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