A BILL TO BE ENTITLED
AN ACT to provide a method for valuation of motor vehicles for property tax purposes.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 105‑330.2(b) reads as rewritten:
"(b)	Value; Appeal. – A classified motor vehicle shall be appraised by the assessor at its true value in money as prescribed by G.S. 105‑283. The value of a motor vehicle is presumed to be its trade‑in value, as set in a schedule of motor vehicle values adopted by the Department of Revenue, whose values do not exceed the trade‑in values of motor vehicles as published in a recognized automotive reference manual. The owner of a classified motor vehicle may appeal the appraised value of the vehicle in the manner provided by G.S. 105‑312(d) for appeals in the case of discovered property and may appeal 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 of appraised value with the assessor within 30 days after the date of the tax notice 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 shall pay the tax on the vehicle when due, subject to a full or partial refund if the appeal is decided in the owner's favor."
SECTION 2.  This act is effective for taxes imposed for taxable years beginning on or after July 1, 2003.