Looking like career is going to take our fam from MD to the super south edge of Charlotte soon. Between the beltway and Rock Hill, based on my googlemapping? Don’t know much of anything about that area. Anything I should know about which side of the line to be on? NC vs SC?
Leasing-wise, anything I should know that’s weird/unique about either? (Both, I imagine, are going to feel like a dream world compared to Maryland taxes..)
We both have MD leases that will end next year. I know we are going to have to pay new monthly tax on top of the tax we already paid in the leases once we register them, right? Both don’t have much longer left so it’s not the end of the world.
Non-leasing-wise, anything else financially (housing, etc) that makes sense to be on one side or the other?
Leasing your next car(s) shouldn’t factor into your decision on where to live. They’re both low taxes on leases (NC 3% on monthly and SC $500 flat tax AFAIK), and there’s much more important factors to prioritize.
Probably should’ve worded it better. Leasing definitely wont be a deciding factor, more just information gathering on if there was anything unusual that I wasn’t aware of. Appreciate the info on leasing though.
First thing to know is that in CLT the 485 loop is not called the Beltway.
Pretty easy, when you first register your car here (NC) you’ll pay registration fees and one years’ worth of property taxes. The tax rate is based on the city/county where you register the car.
Then, every year after, you’ll receive a bill in the mail for registration renewal and another year of property taxes. You have to get your car inspected before it will allow you to pay the renewal/taxes.
If you sell your car (or turn in your lease) in between when your registration/tax is due, then you can file for a refund of the pro-rated amount.
The property tax stuff above is completely different from the 3% sales tax you pay on the lease payment amount, FYI.
Just got my property tax bill on the 911. I was hoping the dealership could pull off the plate transfer from my Miata, but I guess they couldn’t get it done. Would have been zero, but instead it is $1,200!
So NC doesn’t have a sales tax per se, it’s called a “highway use tax” that’s 3%. When you move here you’ll pay it on your current vehicle but it’s capped at $250.
Property tax is annoying but you pay it as part of the annual license plate registration. they also add $107 for PHEV and $215 for BEV to registration fees to offset gas tax.
The key is to renew your NC plates on your old car and pay low property tax then buy a new car and you won’t have to pay the new property tax until after the first year.
NC also has inspections of the vehicles that need to occur within 3 months of license plate renewal. If you buy a new car you are exempt until the second year of ownership.
I am biased but really the only thing SC has over NC is that it’s one of the five states that mandates by law zero deductible for windshield replacements.
I do this all the time. I just buy few cheap cars, register it, sell it and move the plate over to another car so gives me time not to pay the property tax bill lol
It would have to be a really cheap car and a really expensive car for this to work as a strategy, right? My situation was just a coincidence that the timing worked out almost perfectly. The slight upside is that it was just registered after almost 3.5 months, so even if I keep it to full term, I will get at least a few hundred back in abatement.
The key is to renew your NC plates on your old car and pay low property tax then buy a new car and you won’t have to pay the new property tax until after the first year.
Does it matter on vehicle type? Here you cant move car plates to SUV/truck and vice versa.
NC income tax is lower than SC income tax. All of the worthwhile shopping is in NC as well. My girlfriend just moved to Charlotte from Durham and said that she thinks anyone who chooses to live over the border in SC is crazy. I-77 is just as frustrating as 270 was for her in MD, and possibly even worse because of all the Nissan Altimas and beat up Civics with fake temp tags (and no insurance).
The only advantage of South Carolina, in her eyes, is the convenience of being able to avoid the ABC stores. That being said, she plans to stock up every few months at the Costco they’re opening in Indian Land once that opens at the end of the month.
