Select your state

Taxes

personal property tax

Many states assess a personal property tax on certain items of personal property such as motor vehicles, boats, and aircraft. Business personal property taxes—taxes on tangible personal property items that are used to produce income—are often referred to as ad valorem taxes.

In North Carolina, personal property tax is assessed on items such as motor vehicles, boats, and aircraft. This tax is an ad valorem tax, meaning it is based on the value of the property. The tax is administered at the county level, and the rate varies by county. Vehicle property tax is combined with the annual vehicle registration fees and paid to the North Carolina Division of Motor Vehicles (NCDMV). For business personal property, which includes any tangible property that produces income, businesses must annually list this property with the county assessor's office. The listing must be submitted by January 31st each year to avoid penalties. The assessed value is determined by the county tax assessor and is subject to appeal by the taxpayer. The tax rate applied is the same as for other real property in the county, and the revenue generated is used to fund local services such as schools, roads, and public safety.

Legal Articles

State Statutes

As a LegalFix Member You Will Be an Important Client of Local Law Firms

For as little as 69¢ a day you can have a LegalFix Legal Plan that includes initial consultations with an attorney at no additional charge—and additional legal services at reduced rates—all from top law firms in your state.

Don't wait—be prepared for life's inevitable legal issues, starting today.

And to save even more money, ask your employer, credit union, or membership group to offer LegalFix as an employee or member benefit.

Taxes

personal property tax

As a LegalFix Member You Will Be an Important Client of Local Law Firms

Articles

North-Carolina State Code

North-Carolina State Code

Taxes

personal property tax

Articles