North Carolina General Statutes 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 N.C. Gen. Stat. § 20-79.4
Terms Used In North Carolina General Statutes 105-330.9
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
(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.)