Q. What qualifies as taxable individual personal property?
A. Boats and other watercraft, airplanes, unregistered vehicles, trailers, campers, income producing farm equipment, and manufactured homes (mobile homes).
Q. When should I list taxable personal property for personal property tax purposes?
A. Owners of taxable personal property must list with the Office of Property Assessment
and Land Records Management (PALRM) during the month of January each year. A 10% late listing penalty will be charged for anyone listing after January 31st of each tax year.
Q. How is the assessment determined for personal property?
A. Personal property is assessed at fair market value as of January 1st each year.
Q. What does "registered vehicle" mean?
A. Registered vehicle means a vehicle that is registered with the North Carolina Division of Motor Vehicles with tags that have not expired. Registered vehicles include tagged cars, trucks, boat trailers, utility trailers, camping trailers, and motor homes. Registered vehicles with a current (unexpired) tag are a special class of personal property and are excluded from being listed each year.
Q. If my boat is registered with North Carolina Game and Wildlife why do I have to list it?
A. Boats and other types of watercraft that are registered with North Carolina Game and Wildlife must be listed each year based on ownership as of January 1 in accordance with North Carolina General Statutes. Boats are not treated the same way as vehicles registered with the North Carolina Division of Motor Vehicles. However, if the boat trailer has a valid unexpired tag, it is considered a registered vehicle (registered by the North Carolina Division of Motor Vehicles) and should not be listed.
Q. I sold my boat during the calendar year. Will my tax bill be prorated based on the period of time that I owned the boat?
A. No, there is no provision in the tax law to prorate individual property taxes except in the case of registered vehicles. Therefore, your tax bill will be due and payable as billed.
Q. What does "situs" mean?
A. Situs means the place at which the property is more or less permanently situated.
Q. I received a discovery notice for my boat airplane or manufactured home (mobile home). What does it mean?
A. A "discovery notice" for a boat, airplane or manufactured home (mobile home), means that PALRM has been notified that you are the owner of the boat, airplane or manufactured home and that it is located within the Mecklenburg County taxing jurisdiction. This information is received from numerous sources, i.e. North Carolina Game and Wildlife, mobile home parks, airplane hangars and marinas. If you received one of these notices and the information is correct, it is not necessary to call the office. You will receive a tax bill in approximately thirty days.
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