What will happen if I do not return the Aircraft Property Statement?

It is important that the statement be returned every year. 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.

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1. Why did I receive an Aircraft Property Statement?
2. What will happen if I do not return the Aircraft Property Statement?
3. What if the due date to file an Aircraft Property Statement falls on a Saturday, Sunday, or legal holiday?