Just Notified Plane's Going To Be Taxed!

kontiki

kontiki

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Kontiki
I was just notified planes at KAWM are going to be taxed by the county.

In my case, I may not even have it back together and flying until next year.

Anyone know of good reference for estimating taxible value?
 
Probably AOPA vRef is your best bet.
Is this something new, the County Tax? Most States require property like boats, planes. RVs, etc., to be declared as "property" and a tax paid based on the same mill rate you pay for your home. We faced this in Clark County NV.

State of NH and other states have a separate "Airplane Fee" that removes the airplane from the property tax roll and a tax is paid to the State based on weight. Those funds are not co-mingled with the general fund. They are allocated to an "Airport Improvement" fund. Many airports that are not eligible for Federal dollars can apply for improvement funds in the interest of keeping small airports open, to include privately owned but publicly accessible airports.

I just got my bill from the state for 2025 for my glider.
 
My county does the same...I have ignored that valuation request every year and every year their assessed value they ultimately tax on is a fraction what it is actually worth so that has been a good strategy. Don't think there is any legal requirement for YOU to determine value and submit to tax authorities but if they assess and are way off high you can dispute it.
 
In Ma. They tax on weight and issue a sticker for the plane.,money goes to state,auto excise goes to the town.
 
But that's ok because you just bought it for "$1 & other considerations"
 
SixPapaCharlie said:
But that's ok because you just bought it for "$1 & other considerations"
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This is probably property or ad-valorem taxes. Based on market value.

Good or bad, municipalities have a hard time valuing aircraft. "Yes, I know there are 3 others advertised in Trade a Plane (rip) for a million dollars each. They haven't sold, so you can't use those examples to establish the value for MY airplane."
 
When the tax bill was sent for my experimental, if I wanted to dispute their assessment, I had to show receipts proving the costs of the build ...
 
I am so glad I am based in Delaware.
 
kontiki said:
I was just notified planes at KAWM are going to be taxed by the county.

In my case, I may not even have it back together and flying until next year.

Anyone know of good reference for estimating taxible value?
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I found a low ball add on barnstormer for my plane and submitted a copy of that to justify my low valuation.
 
Bexar County (San Antonio, TX) values aircraft based upon the Aircraft Blue Book (not affiliated with the auto valuation book). They don't figure avionics, only SMOH and Total Time for Airframe. They will consider documented damages and non-working engines for adjustments, but refuse to consider any other valuation methods or adjustments. Their valuations tend to be about 5-10% higher than VREF. I've protested years when their valuation was clearly too high. It's usually a case when they forget to deduct for the time. My experiences are for SEL prop. I have no idea how they handle turboprops or jets.
 
In Connecticut there used to be a town property tax on airplanes, then at some point they eliminated it with great publicity about "tax reduction"... and instituted a required CT state aircraft registration instead, based on gross weight. You buy the registration sticker from the town tax clerk, go figure.

It's not based on aircraft value... but to get the sticker you have to show proof that the state sales tax was paid when you bought the plane or brought it into the state.
 
Dana said:
It's not based on aircraft value... but to get the sticker you have to show proof that the state sales tax was paid when you bought the plane or brought it into the state.
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If you owned it for x number of months before moving to CT, then don't pay the sales tax when you bring it in. Same for cars and other property.
 
BillTIZ said:
If you owned it for x number of months before moving to CT, then don't pay the sales tax when you bring it in. Same for cars and other property.
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That's something else... I was thinking of the case where a CT resident buys a plane out of state and brings it home (as I've done); then sales tax is owed and must be paid before you can get the state registration.

In the case of my newest plane, I made an even swap for my old plane, no money changed hands, so (according to the tax people, I asked) no sales tax was owed. :)
 
dfw11411 said:
Bexar County (San Antonio, TX) values aircraft based upon the Aircraft Blue Book (not affiliated with the auto valuation book). They don't figure avionics, only SMOH and Total Time for Airframe. They will consider documented damages and non-working engines for adjustments, but refuse to consider any other valuation methods or adjustments. Their valuations tend to be about 5-10% higher than VREF. I've protested years when their valuation was clearly too high. It's usually a case when they forget to deduct for the time. My experiences are for SEL prop. I have no idea how they handle turboprops or jets.
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apropos of nothing, important for the gallery to know this is only true for airplanes used for revenue in texas. No such taxation exists for recreational use. Figured it was an important omission given the thread title.
 
I had my plane at 5C1, Boerne Stage just outside of Bexar county for 15 yrs. Never taxed for it. @dfw11411
 
hindsight2020 said:
apropos of nothing, important for the gallery to know this is only true for airplanes used for revenue in texas. No such taxation exists for recreational use. Figured it was an important omission given the thread title.
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Apologies for being off topic. My intent was to respond to OP's question: "Anyone know of good reference for estimating taxable value?" by stating that some taxing jurisdictions won't consider another source used to value your aircraft. It's their selected source only. And by suggesting to validate how the taxing authority arrived at their valuation as they may miss a step.
 
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