Taxation of Antique Motor Vehicles

Starting on July 28, 1995, antique motor vehicles can be assessed for taxation purposes at the lower of its true value or five hundred dollars ($ 500.00) if certain conditions are meet.

  • The age of the antique automobile must be 35 years or older.
  • The owner must purchase a historic vehicle plate as recognized by the General Statues - Antique Automobile (applies to cars 35 to 49 years old) or Horseless Carriage (applies to cars 50 years or older).
  • It is owned by an individual and not used in connection with a business.
  • It is maintained primarily for use in exhibitions, club activities, parades, and other public interest functions & is only occasionally used for other purposes.

ยง 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:

  • It is registered with the Division of Motor Vehicles and has an historic vehicle special license plate under G.S. 20-79.4.
  • It is maintained primarily for use in exhibitions, club activities, parades, and other public interest functions.
  • It is used only occasionally for other purposes.
  • It is owned by an individual.
  • 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).

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