[twobjshelbys]

Congratulations, you're now rich. And we only tax the rich.

A Cobra (and any other similar car) is a toy. The tax assessors know the difference between men and boys is the price of their toys. They will work to keep the assessed value of such toys as high as possible to maximize revenue. That means it will be deemed to be as new as possible. Some places will furthermore tax it based on current Fair Market Value (just as they do real property like houses) so getting the same treatment for a Cobra Replica built in 2020 even though it is a 1965 just ain't the same as a 1965 Mustang.