Each motor vehicle licensed by the state which is resident within the town on January 1 or each year shall be subject to an annual motor vehicle tax of $3. The tax shall be imposed for the fiscal year beginning on July 1 following the January 1 date on which the motor vehicle becomes resident in the town. For the purpose of determining whether the motor vehicle is resident within the town, the provisions of the Machinery Act (G.S. §§ 105-271 et seq.) shall be applicable, and any motor vehicle which under the Machinery Act would be taxable for ad valorem property taxes shall be subject to the tax imposed by this subchapter.
(1992 Code, § 70.40) (Ord. O-43-5318384, passed 5-31-1984)