AV-66 Antique Automobile Value Exclusion Application

AV-66 Application for Antique Automobile Value Exclusion under North Carolina General Statute 105-330.9 (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. (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).