Antique Airplane Reduced Valuation (NCGS 105-277.12)
Airplanes meeting the following conditions may be entitled to reduced valuation:
- Registered with the Federal Aviation Administration
- Model year 1954 or older
- Maintained primarily for use in exhibitions, club activities, air shows, and other public interest functions
- Used only occasionally for other purposes
- Not used for the production of income
To apply, file the Antique Aircraft Application with the tax office along with your listing form.