NC Vehicle property Tax

[flexmerc]

Okay,
This is what seems like the 3rd or 4th year with a gross increase in the Property Tax Value of my Bronco; according to the State of NC my bronco is valued at $45100K!!!

I've researched this: Has anyone done this? any other ideas without incriminating yourself?

• In North Carolina, antique vehicles are assessed for property tax at a reduced value. The owner must file an application to qualify for the reduced assessment.
  • Eligibility
• The vehicle is at least 30 years old
• The owner is an individual
• The vehicle is used occasionally for non-income purposes
• The vehicle is registered with the Division of Motor Vehicles and has a historic vehicle special license plate
  • Application
• The owner must file an application for antique automobile value exclusion (Form AV-66) with the assessor in the county where the vehicle is located
• The application must be filed within 30 days of the due date for taxes
• The assessor may deny the application if the vehicle doesn't meet the qualifications
  • Assessment
• The vehicle is assessed at the lower of its true value or $500
• The assessor may review the vehicle and use the NADA Collectible Car Guide to determine its value
  • Appeal
• The owner can appeal the assessed value within 30 days of the bill date

 

[green61bug]

I've never contested the value stated by the state. It has been going up a lot in the past few years. Im sure more and more people will be doing it. My broncos are all in the 40K estimated value range. I've often wondered if you were to convince the state your vehicle is only worth say 8k how the classic car insurers would feel about it. Maybe they wouldn't care at all.

 

[flexmerc]

Unfortunately if I wreck my bronco enough to total it; I'll probably be dead....in which case my life insurance would come into effect

Knock on wood; I don't know the last time I've made an insurance claim

 

[jeffncs]

NC just sent me a letter asking for details on the vehicles I have titled but not registered…2 EBs and a 65 mustang. I’m waiting for them to send the next letter - property taxes owed.

 

[JB Fab]

I feel like I must have been living under a rock... Property tax on a vehicle, really? what kind of BS is that?

I guess i have been livin' under a rock (Oregon). We don't even have sales tax. Registering 1999 or older passenger vehicle is $126 for two years (a bit more if you want fancy/personal plates).

 

[jeffncs]

I feel like I must have been living under a rock... Property tax on a vehicle, really? what kind of BS is that?

I guess i have been livin' under a rock (Oregon). We don't even have sales tax. Registering 1999 or older passenger vehicle is $126 for two years (a bit more if you want fancy/personal plates).

It’s just a money grab for the state.

 

[dmoses42]

When I lived in SC, their sales tax was capped at $300. But they got you on vehicle registration, probably 3-4 times what I paid in Ga for a new vehicle. The older it got, the less you paid, but they got you at the beginning. I bought a new TDI Jetta in 2000, and I think my property (Georgia calls it Ad Valorem) taxes were over $1800 for the first year. On a $21000 car. I worked in NC as a contractor in Bellsouth offices installing new equipment, and one of the Bellsouth employees was talking about how bad the taxes were, taxes for actual property, like land. He said he had some property with a creek running through the property and the state (might have been county? Can't remember) said he couldn't even mow within 100 feet of the creek. My understanding was taxes and regulations were crazy in NC.

 

[Timmy390]

In AR we pay "personal property" on everything. Cars, boats, trailers, boat motors, 4 wheelers etc. Not sure how they value each but my Bronco and 69 stang but it costs me a couple hondos each per year.

We also pay sales tax and state income tax

The state has a billion (yes billion with a B) surplus. Not including the 'rainy day fund".

Tim

 

[Speedrdr]

Paid a one-time tag fee (antique plate) on my EB in Mississippi. I think it was something around $38.00.

Randy

 

[nvrstuk]

In AR we pay "personal property" on everything. Cars, boats, trailers, boat motors, 4 wheelers etc. Not sure how they value each but my Bronco and 69 stang but it costs me a couple hondos each per year.

We also pay sales tax and state income tax

The state has a billion (yes billion with a B) surplus. Not including the 'rainy day fund".

Tim

Our State spends money like it's growing on trees. Estimated 12 BILLION dollar deficit over the next couple years. Heck, they are proposing 6 billion for electric ferries (bids are estimated to be just shy of $1 billion each with 26 ferry's needed). We have a sales tax (appr 10% but Inslee (Gov and his cronies) have spent us into a HUGE hole, our roads are crap but we are about to ban all gas & diesel auto/truck sales.

Least we aren't paying property tax on personal property.

 

[DeezNCSU]

I haven’t dealt with this yet but I live in NC and just bought and registered my Bronco within the last month. I paid $225 when I registered it and I still have to call out the “special inspector” to evaluate it before they’ll send me a title. I didn’t go the antique plate route, so I’m curious what other feedback you get.

 

[Timmy390]

Antique plates are a one time fee her...so I have them on everything I can.........

Tim

 

[nvrstuk]

So you NC guys don't have to pay sales tax when buying a Bronco?

That's 10% of cost plus several hundred more in fees, fees, and several more fees here. Not exaggerating ...

 

[DeezNCSU]

You don't pay sales tax on vehicles here in NC, just 3% highway tax.