Why did my aircraft value go up/down from last year?

For the purpose of California property taxation, aircraft are valued at their fair market value each and every year as of the January 1 lien date. Values determined for previous years cannot be used as a factor in determining the current year’s value. Values can increase as well as decrease from year to year because of fluctuations in the market. Aircraft, unlike real property, are not subject to a base year value or a minimum inflationary factor. The fair market value of an aircraft on lien date is unrelated to its net book value (purchase price less depreciation).

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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?