Aircraft property tax assessment in California
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- arksat
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Aircraft property tax assessment in California
Today I received an unsecured property tax bill to find the assessed value of my 2005 DA40 has doubled from the last year
I know the used aircraft value has been increasing but could this be possible? It's 100% increase...
(to be clear, the tax rate is not changed from 1.2%. I'm talking about the assessed value)
I know the used aircraft value has been increasing but could this be possible? It's 100% increase...
(to be clear, the tax rate is not changed from 1.2%. I'm talking about the assessed value)
- Boatguy
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Re: Aircraft property tax assessment in California
I suggest you compare the assessed value to the Vref value. If they are far apart, then I'd appeal. Vref is accessible at no charge for AOPA members. Go to the AOPA site and follow the links for Vref.
- dmloftus
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Re: Aircraft property tax assessment in California
Luckily Georgia hasn’t picked up on this trend yet. Once the basis goes up, much less likely to decline when market conditions soften.
- arksat
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Re: Aircraft property tax assessment in California
Thanks Russ. I didn't know Vref is free for AOPA members.
I checked it and the value is close to the county's assessment, so looks like I'll need to accept the reality...
I checked it and the value is close to the county's assessment, so looks like I'll need to accept the reality...
- Charles K
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Re: Aircraft property tax assessment in California
What county are you in?
Charles
KCCR Based
N5WU - 2004 G1000 DA40 40.400, GTX345R ADS-B, WAAS Upgraded in 2021 via Diamond Upgrade Program
IFR and ME Rated - Advanced Ground Instructor Rated
KCCR Based
N5WU - 2004 G1000 DA40 40.400, GTX345R ADS-B, WAAS Upgraded in 2021 via Diamond Upgrade Program
IFR and ME Rated - Advanced Ground Instructor Rated
- janders
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Re: Aircraft property tax assessment in California
What does that mean in california? Do you have to pay tax whenever it increases? Or just increases above a high watermark?
Current E50P owner
Former C172 and DA62 owner
Former C172 and DA62 owner
- Charles K
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Re: Aircraft property tax assessment in California
We pay tax on whatever they assess the plane at. So if in the prior year you were assessed 100K then your tax bill would be around 1200 dollars. If they come back and re-assess at 200K - your tax bill just doubled.
Prop 13 only protects your real estate from re-assessment at no more than a 2% per year increase.
One of the many reasons we will retire elsewhere.
Prop 13 only protects your real estate from re-assessment at no more than a 2% per year increase.
One of the many reasons we will retire elsewhere.
Charles
KCCR Based
N5WU - 2004 G1000 DA40 40.400, GTX345R ADS-B, WAAS Upgraded in 2021 via Diamond Upgrade Program
IFR and ME Rated - Advanced Ground Instructor Rated
KCCR Based
N5WU - 2004 G1000 DA40 40.400, GTX345R ADS-B, WAAS Upgraded in 2021 via Diamond Upgrade Program
IFR and ME Rated - Advanced Ground Instructor Rated
- Derek
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Re: Aircraft property tax assessment in California
I didn’t realize that some states charge property tax for airplanes. It makes me feel sad and I hope it doesn’t catch on - it’s like death by a thousand cuts. This tax doesn’t exist in Canada. Instead we have a one time sales tax at the time of purchase that varies between 5% and 14% depending on what province you live in. Do you have to pay property tax for cars, boats or bikes too? It’s a tax on fun.
- mfdutra
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Re: Aircraft property tax assessment in California
Boats yes, just like aircraft. Cars pay annual fees to the DMV as well, but it's not considered property.