Aircraft

airplane

  1. Description
  2. Frequently asked questions
  3. Forms & Resources

Aircraft Property Statement

The filing of an annual Aircraft Property Statement (PDF) is a requirement of section 441(d) of the California Revenue and Taxation Code. Statements are sent in order to gather the most up to date information on the property so that an accurate value can be determined. Aircraft Property Statements are mailed to identified aircraft owners prior to January 1 and are required to be returned by April 1. Failure to file an Aircraft Property Statement will prompt the Assessor to estimate the market value of the aircraft and apply a penalty assessment (Revenue and Taxation Code Sections 501 and 5367). It is important that the statement be returned every year.

Valuation

The Assessor is required to use market data in determining assessable values for aircraft. Aircraft market value guides are the main source for determining the assessable values. Information (current engine and airframe hours, status of paint and upholstery, etc.) provided on the Aircraft Property Statement will allow the Assessor to make appropriate value adjustments (if necessary) based on the actual condition of the aircraft. Additional information may be requested by the Assessor.

AFTER ENROLLMENT, TAXPAYER REQUESTS FOR VALUE REVIEW MUST BE SUBMITTED IN WRITING

Sale of Aircraft

If you no longer own the aircraft, you are still required to notify the Assessor in writing. If a statement is not returned, an estimated assessment will be made using the best information available, and a 10% penalty on the assessed value will be added for failure to file a statement as mandated per California Revenue and Taxation Code, section 463. If an aircraft was sold, destroyed, or permanently removed from Placer County PRIOR to January 1, details should be provided by the assessee (owner) shown on the statement. Notify us by completing an Aircraft Affidavit (PDF).

THE SALE, REMOVAL, OR DESTRUCTION OF AN AIRCRAFT AFTER LIEN DATE (January 1) DOES NOT RELIEVE THE OWNER OF TAX LIABILITY FOR THE COMING FISCAL YEAR, July 1 through June 30 of each year.