105-330.9. Antique automobiles.
(a) Definition. - For the purpose of this section, the term "antique automobile" means a motor vehicle that meets all of the following conditions:
(1) It is registered with the Division of Motor Vehicles and has an historic vehicle special license plate under G.S. 20-79.4.
(2) It is maintained primarily for use in exhibitions, club activities, parades, and other public interest functions.
(3) It is used only occasionally for other purposes.
(4) It is owned by an individual, or owned directly or indirectly through one or more pass-through entities, by an individual.
(5) It is used by the owner for a purpose other than the production of income and is not used in connection with a business.
(b) Classification. - Antique automobiles are designated a special class of property under Article V, Sec. 2(2) of the North Carolina Constitution and must be assessed for taxation in accordance with this section. An antique automobile must be assessed at the lower of its true value or five hundred dollars ($500.00). (1995, c 512, s 2; 2009-445, s. 24(a); 2013-414, s. 70(b); 2017-10, s. 2.8.)
Structure North Carolina General Statutes
North Carolina General Statutes
§ 105-330.1 - Classification of motor vehicles.
§ 105-330.2 - Appraisal, ownership, and situs.
§ 105-330.3 - Listing requirements for classified motor vehicles; application for exempt status.
§ 105-330.4 - Due date, interest, and enforcement remedies.
§ 105-330.5 - Notice required; distribution and collection fees.
§ 105-330.6 - Motor vehicle tax year; transfer of plates; surrender of plates.
§ 105-330.8 - Deadlines not extended.
§ 105-330.9 - Antique automobiles.