Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Property Tax Annotations

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740.0000 SITUS

Annotation 740.0003

740.0003 Aircraft. In the event of taxable situs in more than one state, the primary taxable situs and the secondary taxable situs must be determined. The time spent by the aircraft in the state in which the aircraft has acquired secondary taxable situs divided by 365 days provides the percentage of fair market value to be prorated to the state of secondary taxable situs. C 7/21/1977; C 9/3/1996.