Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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100.0000 AIRCRAFT

Annotation 100.0040

100.0040 Statement Filing. If an aircraft has an aggregate cost of over $100,000, Revenue and Taxation Code section 441(a) requires the owner to file a signed property statement with the assessor, regardless of whether the assessor makes a request for such a statement. In this situation, if the taxpayer fails to file a property statement, section 463 requires an assessor to add a 10 percent penalty to the assessed value. C 8/8/2013.