NCDOR’s New Year’s Resolution Includes Raising Taxes For North Carolina Residents

1924

The NC Department of Revenue (NCDOR) has just given Charlotte residents another reason to move south of the border in the new year.

According to an official statement by the NCDOR, “Effective January 1, 2023, the motor fuel excise tax rate is the amount for the preceding calendar year, multiplied by a percentage. The percentage is plus or minus the sum of the annual percentage change in state population for the applicable calendar year, multiplied by 75 percent and the annual energy index percentage change in the Consumer Price Index for All Urban Consumers, multiplied by 25 percent.” 

Based on our population growth and the above calculation, North Carolina’s gas tax has now been raised by a total of $.02 from 38.5 cents to 40.5 cents.

The increase in gas tax will help the state improve our aging infrastructure, as the primary source for road projects comes from the gas tax.

What do you think about the change? 

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