Car Tax On The Rise

Lawmakers have introduced a bill to increase the tax from three percent to 6.75 percent. The legislation would also eliminate the practice of subtracting the value of a used, trade-in automobile when calculating the total sales price of a new car. The North Carolina Automobile Dealers Association estimates the proposal would mean an additional one billion dollars for the state. It's estimated on a thirty thousand dollar vehicle, the additional tax would be close to two thousand dollars.