How is the value of a vehicle determined?

An assessor must appraise a motor vehicle at its true value in money. The sales price of a vehicle purchased from a dealer, including all accessories attached to the vehicle, is considered the true value of the vehicle, and the assessor must appraise the vehicle at this value.

The Property Tax Division of the NC Department of Revenue annually adopts a schedule of values to be used when vehicles are not purchased from a dealer and for registration renewals. This ensures equitable statewide valuations. The system allows for adjustments for high mileage and below-average condition.

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1. What is a licensed motor vehicle?
2. How is the value of a vehicle determined?
3. May I appeal the value?
4. Who pays the taxes on a leased vehicle?
5. Is interest charged on late payments?
6. Will I receive a tax refund or owe additional tax if I transfer my license plate to another vehicle during the year?
7. When can I apply for a refund of vehicle property taxes paid?
8. My Tax & Tag Combined notice shows taxes for a city or fire district that I do not live in. What do I do to get this corrected?
9. My Tax & Tag Combined notice shows taxes for a county I do not live in?
10. I received a Tax & Tag Combined notice on a vehicle that I've already sold. What do I do?
11. How can I get a record of the taxes I paid on a registered vehicle?
12. What is a Gap Property Tax Notice and how are taxes calculated?
13. I paid taxes when I tagged the vehicle, so why did I receive a Gap Property Tax Notice?
14. Do I have to pay taxes on a vehicle that is not working?