Why is the average retail value, as listed in the price guide for January 1, different from the assessed value?

California Revenue and Taxation Code, Property Tax Rule 10, mandates that the Assessor include within the value all components of the full economic cost of placing property in service. An aircraft value may typically include an adjustment to the average retail base to add sales or use taxes, freight or shipping cost, labor and materials, or after-market additions.

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1. Why do I have to pay taxes on my aircraft?
2. I paid the sales tax when I purchased the aircraft. Why am I paying taxes again?
3. Why did I receive an Aircraft Property Statement?
4. What will happen if I do not return the Aircraft Property Statement?
5. What if the due date to file an Aircraft Property Statement falls on a Saturday, Sunday, or legal holiday?
6. Where will my aircraft be assessed since I take it to many locations?
7. How is the aircraft value determined?
8. Why is the average retail value, as listed in the price guide for January 1, different from the assessed value?
9. Why did my aircraft value go up/down from last year?
10. What if I do not agree with the aircraft value?
11. What if I still do not agree with the aircraft value after an Assessor’s Informal Review?
12. Why do I have a 10% penalty note on my tax bill for my aircraft?
13. What should I do when I sell my aircraft?
14. I sold or disposed of my aircraft after January 1st. Why do I have a tax bill?
15. I sold or disposed of my aircraft before January 1st. Why do I have a tax bill?
16. Can my taxes be prorated?
17. I filed bankruptcy. Why do I have to pay the tax?