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-   -   Questioning the TAX man (https://vansairforce.net/community/showthread.php?t=199148)

seagull 09-12-2021 11:23 PM

Questioning the TAX man
 
I received my annual airplane property tax bill valuing my -12 at $8000 over what I purchased it for 1 Ĺ years ago and 250 hours later. I have the option to contest the valuation but have been told I would possibly need an appraisal for it to have any teeth. Apparently most counties use VREF but the -12 does not show on there. Add to the confusion the S-LSA is worth significantly more than the E-LSA, hard to know if the tax man knows the difference.

Has anyone had this experience, hired an appraiser, or any other thoughts?

BobTurner 09-13-2021 01:09 AM

This is always hard - fighting the tax man. Up here in Alameda county, the assessed value is supposed to be as of last Jan 1, with the tax bill due in august. In the spring, they send out a questionaire, for updates. Failure to return it invokes an immediate increase (I forget the percentage) in the assessed value. Does your county have similar rules? Did you forget the questionaire? Unlike property tax on houses the tax on airplanes is based on market value, and that has apparently increased a lot. Still, most assessors are human, and it doesnít hurt to give them a call. No, they probably donít have a clue about different models. Ask them.

sailvi767 09-13-2021 06:08 AM

Given the state of the used aircraft market the last two years the increase is probably on the low side. I think I would just accept it. Hard to know however without the actual number they valued it at.

grubbat 09-13-2021 06:56 AM

Tax Collector
 
Having been on both sides of this issue over the years, it can be quite frustrating due to the inconsistency of the tax process. Variations between states and within states, between counties and within counties. In Georgia, some counties really rely on the tax income and thus uses valuation techniques that get the max tax while others counties treat them with less rigor. When I was sharing these thoughts with a friend of mine who is still in govt, he jokingly sent me this clip and, he got a good laugh. Me not much so.
https://m.youtube.com/watch?v=dJD0lB4zRes

RFSchaller 09-13-2021 12:03 PM

Fortunately, in AZ they get you once when you buy it for sales tax, but itís only $25/year after that.

MacCool 09-13-2021 02:36 PM

Quote:

Originally Posted by RFSchaller (Post 1555129)
Fortunately, in AZ they get you once when you buy it for sales tax, but itís only $25/year after that.

Unlikely as it is that Minnesota would miss a taxation opportunity, there is no personal property tax on airplanes. Just an annual registration fee of $100 for any airplane whose value is less than $500,000.

tom_AZ 09-13-2021 03:15 PM

AZ Tax
 
Quote:

Originally Posted by RFSchaller (Post 1555129)
Fortunately, in AZ they get you once when you buy it for sales tax, but itís only $25/year after that.

Even more fortunately in AZ, if you buy a flying aircraft from a private party (don't recall the exact definition, but it's something to the effect that they aren't regularly engaged in the sale of aircraft), there is no sales tax due either. You'll probably get an invoice from the state, but you just submit an affidavit that you purchased is from a private party, and the state releases you from the invoice.

charger81 09-13-2021 03:49 PM

Casual sales between individuals are the exception and not subject to use tax. Items purchased for use in Arizona from people who make isolated or occasional sales, and who are not engaged in the business of selling tangible personal property at retail, are not subject to use tax.

https://azdor.gov/individual-income-...to%20use%20tax.

seagull 09-13-2021 03:58 PM

You guys are twisting the knife😂, I live in California, we have a very thirsty government.

tom_AZ 09-14-2021 08:51 AM

Taxman
 
Quote:

Originally Posted by seagull (Post 1555175)
You guys are twisting the knife😂, I live in California, we have a very thirsty government.

1) Understand your pain. We lived in CT for a few years--nice place in many ways, but at tax time...ouch.

2) There's a fix for that.


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