North Carolina § 105-277.12 Antique airplanes

North Carolina Statutes

§ 105-277.12 — Antique airplanes

North Carolina § 105-277.12

Ch. 105Taxation

Art. 12Property Subject to Taxation

Subch. IILISTING, APPRAISAL, AND ASSESSMENT OF PROPERTY AND COLLECTION OF TAXES ON PROPERTY

This text of North Carolina § 105-277.12 (Antique airplanes) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.C. Gen. Stat. § 105-277.12 (2026).

Text

(a)For the purpose of this section, the term "antique airplane" means an airplane that meets all of the following conditions:

(1)It is registered with the Federal Aviation Administration and is a model year 1954 or older.

(2)It is maintained primarily for use in exhibitions, club activities, air shows, and other public interest functions.

(3)It is used only occasionally for other purposes.

(4)It is used by the owner for a purpose other than the production of income.

(b)Antique airplanes are designated a special class of property under Article V, Sec. 2(2) of the North Carolina Constitution and shall be assessed for taxation in accordance with this section. An antique airplane shall be assessed at the lower of its true value or five thousand dollars ($5,000). (1997-355, s. 1.)

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(a) For the purpose of this section, the term "antique airplane" means an airplane that meets all of the following conditions:
(1) It is registered with the Federal Aviation Administration and is a model year 1954 or older.
(2) It is maintained primarily for use in exhibitions, club activities, air shows, and other public interest functions.
(3) It is used only occasionally for other purposes.
(4) It is used by the owner for a purpose other than the production of income.
(b) Antique airplanes are designated a special class of property under Article V, Sec. 2(2) of the North Carolina Constitution and shall be assessed for taxation in accordance with this section. An antique airplane shall be assessed at the lower of its true value or five thousand dollars ($5,000). (1997-355, s. 1.)