Personal Property FAQ

Antique Airplane Reduced Valuation (NCGS 105-277.12)

Airplanes meeting the following conditions may be entitled to reduced valuation:

1. Registered with the Federal Aviation Administration
2. Model year 1954 or older
3. Maintained primarily for use in exhibitions, club activities, air shows, and other public interest functions
4. Used only occasionally for other purposes
5. Not used for the production of income

To apply, file the Antique Aircraft Application with the tax office along with your listing form.