Property tax is based on your county of residence and varies widely county-to-county.
County of your residence or the plane's residence?
In CA, it's were the plane resides. Don't know about other states
I found the Jasper County Assessor website. It states that vehicles have an "assessment ratio" of 6-10.5% and aircraft 4% of fair market value. That can't mean you pay that much very year on your car and airplane, can it?
It could be. In Spartanburg county some years ago airplanes were taxed at about 10% of the value because the county knew that anyone that had an airplane was "rich folks". At some point they figured out that there were not many airplanes registered there so they lowered the taxes to the rate of a car. I do not know what that is but it is a lot less. The county also made efforts to tax airplanes registered out of state if you owned property in Spartanburg with mixed results. Your mileage may vary depending on how greedy the tax people are in Jasper county.
Setup an LLC in Deleware and register your aircraft there. Before I learned, and had my RV-9A registered in SC, the tax on it was more than the annual tax on my house. As they said, each county is different but it is still very expensive in my opinion.
I live just outside Rock Hill, SC and was wondering the same thing with taxes. Van's charges sales tax on the kits, then SC charges property taxes yearly. Does anyone know if you have to pay the taxes twice or do you somehow get the sales taxes back.
BTW: You don't pay sales tax (as far as I know) on a plane purchase in SC. Instead you pay a yearly property tax on it. If yoou have to pay sales and property taxes it seems they would be double dipping
Setup an LLC in Deleware and register your aircraft there. Before I learned, and had my RV-9A registered in SC, the tax on it was more than the annual tax on my house. As they said, each county is different but it is still very expensive in my opinion.
Setup an LLC in Deleware and register your aircraft there. Before I learned, and had my RV-9A registered in SC, the tax on it was more than the annual tax on my house. As they said, each county is different but it is still very expensive in my opinion.
I was told a couple of months ago that a representative of the SC Dept of Revenue was at the Lancaster County Airport writing down N numbers in every hanger he could access. Even motorhomes are under scrutiny now in SC if the motorhome has a tag registered in say South Dakota and the car it's towing has a South Carolina tag.
They are serious around here about getting their pound of flesh. I complained once...was told "you have too many toys". Take that for what it's worth.