Motor Vehicle Values

What is a Licensed Motor Vehicle?

A licensed motor vehicle is any vehicle with an active North Carolina tag or registration. This includes:

• Cars and trucks
• Buses
• Campers and trailers
• Motorcycles

How Are Motor Vehicles Valued for Property Tax?

• Values are based on year, make, and model using the NC Vehicle Valuation Manual.
• The value reflects the retail level of trade, which means the price a dealer would sell the vehicle for to a consumer.
• Not based on: wholesale price, blue book value, private sale price, or online valuation sites.

When Is the Value Determined?

• If your registration renewal month is January–August, the value is based on January 1 of that year.
• If your renewal month is September–December, the value is based on January 1 of the next year.

What About Vehicles Not Licensed with NC DMV?

For vehicles without an NC license or registration, see the Personal Property section of our website.

Related Links:

Personal Property Information - https://www.wake.gov/departments-government/tax-administration/personal-property/gap-tax-notices