NC sets the value and taxes accordingly. They valued my Indian at $100. I'm not inclined to complain. BUT- you absolutely can not register any vehicle without proof of insurance. If your insurance lapses, the state finds out and fines you. Oh yes they do. Registration and taxes are paid seperately. Not too bad, though. I think REg varies but the 400 is basically so cheap I don't even pay attention. County tax is more than the state tax. Go figure.