§ 105-330.2. (Effective until July 1, 2011) Appraisal, ownership, and situs.

NORTH CAROLINA STATUTES AND CODES

§ 105-330.2. (Effective until July 1, 2011) Appraisal, ownership, and situs.

§ 105‑330.2. (Effectiveuntil July 1, 2011) Appraisal, ownership, and situs.

(a) Date Determined. The value of a classified motor vehicle listed pursuant to G.S. 105‑330.3(a)(1)(registered vehicles) shall be determined as of January 1 of the year the taxesare due. If the value of a new motor vehicle cannot be determined as of thatdate, the value of that vehicle shall be determined for that year as of thedate that model vehicle is first offered for sale at retail in this State.

The ownership, situs, andtaxability of a classified motor vehicle listed pursuant to G.S. 105‑330.3(a)(1)(registered vehicles) shall be determined annually as of the day on which a newregistration is applied for or the day on which the current vehicleregistration is renewed, regardless of whether the registration is renewedafter it has expired.

The value of a classifiedmotor vehicle listed pursuant to G.S. 105‑330.3(a)(2) (unregisteredvehicles) shall be determined as of January 1 of the year in which the motorvehicle is required to be listed pursuant to G.S. 105‑330.3(a)(2). Theownership, situs, and taxability of a classified motor vehicle listed ordiscovered pursuant to G.S. 105‑330.3(a)(2) (unregistered vehicles) shallbe determined as of January 1 of the year in which the motor vehicle isrequired to be listed.

(b) Value; Appeal. Aclassified motor vehicle shall be appraised by the assessor at its true valuein money as prescribed by G.S. 105‑283. If the assessor considers thesales price of the motor vehicle in determining the true value of the motorvehicle, the assessor must not include any amount for which the taxpayer isliable under Article 5A of this Chapter. The owner of a classified motorvehicle may appeal the appraised value of the vehicle in the manner provided byG.S. 105‑312(d) for appeals in the case of discovered property and mayappeal the situs or taxability of the vehicle in the manner provided by G.S.105‑381. The owner of a classified motor vehicle must file an appeal ofappraised value with the assessor within 30 days after the date of the taxnotice prepared pursuant to G.S. 105‑330.5. Notwithstanding G.S. 105‑312(d),an owner who appeals the appraised value of a classified motor vehicle shallpay the tax on the vehicle when due, subject to a full or partial refund if theappeal is decided in the owner's favor.

(c) Repealed by SessionLaws 2008‑134, s. 61, effective July 28, 2008. (1991, c. 624, s. 1; 1991(Reg. Sess., 1992), c. 961, s. 4; 1995, c. 510, s. 1; 1995 (Reg. Sess., 1996),c. 646, s. 24; 1997‑6, s. 10; 1999‑353, s. 1; 2005‑303, s. 1;2008‑134, s. 61.)

§ 105‑330.2. (EffectiveJuly 1, 2011 See Editor's note) Appraisal, ownership, and situs.

(a) Determination Datefor Registered Vehicle. The ownership, situs, and taxability of a registeredclassified motor vehicle is determined annually as of the date on which thevehicle's current registration is renewed, regardless of whether theregistration is renewed after it has expired, or on the date an application fora new registration is submitted. The situs of a registered classified motorvehicle may not be changed until the next registration date. The value of aregistered classified motor vehicle is determined as follows:

(1) For a registrationexpiring or an application for a new registration during the period January 1through August 31, the value is determined as of January 1 of the current year.

(2) For a registrationexpiring or an application for a new registration during the period September 1through December 31, the value is determined as of January 1 of the followingyear.

(3) For a new motorvehicle whose value cannot be determined as of January 1 of the year specifiedin subdivision (1) or (2) of this subsection, the value is determined as of thedate that model of motor vehicle is first offered for sale at retail in thisState.

(4) For a motor vehiclewhose value cannot be determined as of the date set under any other subdivisionin this subsection, the value is determined using the most currently availableJanuary 1 retail value of the vehicle.

(a1) Determination Datefor Unregistered Vehicle. The ownership, situs, and taxability of anunregistered classified motor vehicle is determined as of January 1 of the yearin which the registration of the motor vehicle expires and is not renewed orthe motor vehicle is acquired and the owner does not submit an application forregistration. The value of an unregistered classified motor vehicle isdetermined as of January 1 of the year the vehicle is required to be listed.

(b) Value. Anassessor must appraise a classified motor vehicle at its true value in money asprescribed by G.S. 105‑283. The sales price of a classified motor vehiclepurchased from a dealer, including all accessories attached to the vehicle whenit is delivered to the purchaser, is considered the true value of the vehicle,and the assessor must appraise the vehicle at this value. The sales priceexcludes the tax imposed under Article 5A of this Chapter. The Property TaxDivision of the Department of Revenue must annually adopt a schedule of values,standards, and rules to be used in the valuation of all other classified motorvehicles to ensure equitable statewide valuations, taking into account localmarket conditions and allowing adjustments for mileage and the condition of thevehicles.

(b1) Appeal. The ownerof a classified motor vehicle may appeal the appraised value or taxability ofthe vehicle by filing a request for appeal with the assessor within 30 days ofthe date taxes are due on the vehicle under G.S. 105‑330.4. An owner whoappeals the appraised value or taxability of a classified motor vehicle mustpay the tax on the vehicle when due, subject to a full or partial refund if theappeal is decided in the owner's favor.

The combined tax andregistration notice or tax receipt for a classified motor vehicle must explainthe right to appeal the appraised value and taxability of the vehicle. A lesseeof a vehicle that is required by the terms of the lease to pay the tax on thevehicle is considered the owner of the vehicle for purposes of filing an appealunder this subsection.