How Your Vehicle is Valued
Licensed motor vehicles are valued at retail trade level for property tax purposes as per General Statute 105-283. A motor vehicle offered for sale by a dealer to the end consumer represents the best example of the retail level of trade. Classified motor vehicles are not valued at wholesale, blue book or private party asking price for property tax purposes. Sales transactions between private buyers and sellers and Internet valuation lookup web sites typically reflect these levels of trade.
Value adjustments may be necessary if the owner can document high mileage, significant body or frame damage, excessively worn interior or other damage that may significantly reduce the retail value. Normal wear and tear will not be considered.
Documentation that will be considered for a vehicle value appeal:
1) A copy of the bill of sale documenting the purchase price from a local new car dealership (same as your model) within 12 months of the purchase date,
2) Two written appraisals performed by two different licensed new car dealerships (selling new cars the same model as your vehicle) that clearly state the appraisal reflects the retail value as of the January 1 of the year in which the taxes are due. Each appraisal shall include pictures of the vehicle to document its condition and if applicable, documentation of high mileage or repair estimates for vehicles that have been significantly damaged.
Documentation that will not be considered for a vehicle value appeal:
Wholesale or blue book values pulled from any Internet valuation website, magazine or catalog
A trade-in or wholesale value appraisal from a dealer
Written offers from a dealer to purchase your vehicle
A bill of sale from a private seller
Licensed vehicle value appeals and supporting documentation must be postmarked within 30 days of the billing date printed on the tax bill in accordance with General Statutes 105-312, 105-381 and 105-330.
Mail Appeals and supporting documentation to:
Granville County Tax Department
Attention: Vehicle Appeal
PO Box 219
Oxford, NC 27565