Please be advised that valuations for motor vehicles in the State of North Carolina are furnished by a
single source to the North Carolina Department of Revenue to be used by all County Assessors to ensure
uniformity. The company also provides valuation schedules to the Department of Motor Vehicles. The
valuation schedules used are established by market research which includes the most recognized vehicle
marketing pricing guides, as well as canvassing the local markets in North Carolina. The Schedule of
Values has an effective date of January 1st of the year in which your bill is due/registration renewal is
due. The Assessor’s statutory requirement is to place fair market value (considered to be the retail value)
on motor vehicles as of January 1st of each year. When comparing or consulting other vehicle pricing
guides, please refer to the month of January when considering the market value of your vehicle. An online
resource such as Kelly Blue Book (KBB.com) does not provide true market values at retail price. When
considering any information furnished by you regarding the value of the motor vehicle, the Assessor will
approach the valuation with consideration of the complete market, making adjustments for those items
that affect the value of your motor vehicle.
ADDITIONAL INFORMATION
Pursuant to the North Carolina General Statute 105-330.2(b)
Value: An Assessor must appraise a classied motor vehicle at its true value in money as prescribed by G.S. 105-283. The sales
price of a classied motor vehicle purchased from a dealer, including all accessories attached to the vehicle when it is delivered to
the purchaser, is considered the true value of the vehicle, and the assessor must appraise the vehicle at this value. The vehicle,
camper, trailer must have been purchased from a dealer or company that is not/was not your employer or a family member's
employer, friend, relative or lessor of the vehicle prior to purchase. These are not considered an arm's length agreement and are
not considered a market value sale. Please provide a copy of the Dealer Bill of Sale/Lease Agreement.
In order to make a reduction for high mileage on your current tax bill, we need documentation showing the odometer reading as
close to January 1 of the year of your bill as possible. The average mileage of a vehicle is considered to be 15,000 miles per year. In
order to receive a reduction for excessive mileage your vehicle would have to have 10,001 miles over average. A copy of your safety
inspection or mechanic's service report is acceptable and must include year, make, vehicle identication number and date of service.
To consider making a value adjustment due to damages or substandard condition, we will need documentation such as an estimate
of damage or other certification of substandard condition. The value is determined as of Jan. 1 of the year the bill is due. Photos are
required to be taken in the current year showing the condition and at least one photo must show the tag/license plate on the
vehicle. Repair estimates are also required. This calculation is for the current assessment only. Proof, including updated photos,
may need to be provided each year you request consideration for adjustment due to damages or condition. If the damages have
been repaired, a paid repair receipt is required for a permanent adjustment.
In order to qualify for a Salvage, Rebuilt, Total Loss, or Flood damage reduction of value, the vehicle's title MUST show accordingly.
Insurance "write offs", "buy backs", or "totaled" are not considered salvage vehicles and do not qualify for any reduction.
NADA Valuation guides, when used, will be used on a January-December calendar year cycle due to availability and to comply with
statute. Generally, the January guide is used, however the Clean Retail value will always be considered when reviewed.
NCGS 105-330.9 designates "antique automobiles" a special class of property which may only be assessed at the lower of its true
value or five hundred dollars ($500.00). In order to determine qualification, the Assessor's office must have on file a copy of the
owner's affirmation that all five conditions of the statute are met. Form AV66 must be filed within 30 days of the date the taxes are
due. Application for antique value must be renewed every 5 years.
Domicile or legal residence is an individual's permanent home. Under the Service Member's Civil Relief Act, if the active duty service
member is a legal resident of another state currently stationed in North Carolina on military orders, they will not be taxed on their
military pay by North Carolina. Production of the military member's current Leave and Earnings Statement (LES) to the Assessor's
office can be used to establish this fact to obtain relief from taxation of vehicle property taxes.
Under the provisions of G.S. 105-330.3 every owner of property claiming exemption or exclusion from property taxes must
demonstrate that the property meets the statutory requirements for exemption or classification. Claims for exemption or exclusion of
personal property must be filed with the assessor of the county in which property is located. Submit form AV-10V.
Reference North Carolina General Statute 105-330.2(a) for the ownership, situs, and taxability determination date for a registered
vehicle. The subdivisions of this statute will also clarify the value determination date for a registered classified motor vehicle.
v
v
v
v
v
v
v
v
v
