Aircraft property tax assessment in California
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- Colin
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Re: Aircraft property tax assessment in California
Essentially the tax man goes after any large asset. If enough people had fancy trashcan enclosures and were parking a few hundred grand in them, the tax man would start sending you a bill for those assets. As it is there *are* some tax-collecting entities which collect an "excise tax" every year on automobiles.
Colin Summers, PP Multi-Engine IFR, ~3,000hrs
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- Charles K
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Re: Aircraft property tax assessment in California
In CA we also have the one time sales tax of anywhere from 7.25 to 10 plus percent - then you get the forever annual property tax. We even have to pay a 'possessory interest' tax on the hangars or boat slips we rent from the cities or counties as if we owned them.
Here in CA it never ends - way over taxed and way underserved for the taxes we pay.
Here in CA it never ends - way over taxed and way underserved for the taxes we pay.
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
- Jody
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Re: Aircraft property tax assessment in California
On my first California aircraft property tax bill, the assessed value was higher than my purchase price. I called up the assessor's office to question it and found that they had added the 10% sales tax onto the purchase price to get the assessed value. That assessed value is then taxed at over 1% a year. So I get to pay tax on the tax . . . and no, the assessor said that wasn't a mistake. It's a feature, not a bug!
- Don
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Re: Aircraft property tax assessment in California
Yep, we pay an annual personal property tax on our the plane, our boat, and even on the dingy for the larger boat. Then we pay property tax for our rented hangar, our rented boat slip at the marina, etc, etc, etc. Now, our state governor is aligning himself and getting ducks in row to run for U.S. president in coming years. Just sayin.
Diamond Star XLS, N623DS, SN40.1076