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| It's Tax Time ! http://t18.net/thorpforum/viewtopic.php?f=29&t=6482 |
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| Author: | Rich Brazell [ Thu Jan 13, 2011 10:08 pm ] |
| Post subject: | It's Tax Time ! |
As I continue to sift through the almost endless paperwork, I paid a visit to the local San Diego county tax office. It was a very fine new building, with the smell of a new car ! It was time to face one of two tax demons (the other the State of California...to be continued), today it was the County of San Diego. I had 2 options... 1. Fill out the standard paperwork and get assessed approx. 1% of the appraised value (every year) set by the County assessor or... 2. Claim an for exemption from County property taxes by claiming the Aircraft of Historical Significance. The more questions I asked my friendly County tax person the more I was leaning toward the Historical aspect. 1. Here are the key points if you plan to do it (at least in San Diego County)...your mileage may vary in your location. A. "Aircraft of historical significance" means any aircraft that is an original, restored, or replica of a heavier than air powered aircraft that is 35 years or older. The T-18/S-18 fits this bill. I believe it is the same wording (or words to that effect) that allow me/you to use an "X" after your N-number, ie: NX115RX, in place of the 2" high lettering EXPERIMENTAL B. The aircraft is available for display to the public at least 12 days a year. This can be an airshow, but it can also be any aircraft flyin that is advertised to the public, ie: T-18 fly-ins, as they are advertised on our web site and we publish a calendar. C. You have to have a "sign in sheet" signed by the flyin event coordinator and at the end of the required 12 days, you mail it in with your yearly aircraft property tax statement. Make the 12 day requiement, pay no tax. D. If you do not meet the 12 day requirement, you will be assessed the full amount (for that year) of property taxes. No give or take on this 12 days period. No exemptions for WX, mechanicals, illness. E. For example, this year I pay the $35.00 filing fee for the historical wavier and I do not pay any tax this year, but I need to still make the 12 days which applies to next year. Always punting the tax ball one year ahead. If that makes any sense. I think it is a pretty sweet deal anytime I can keep my money out of the hands of Govt.! I need to get busy on the State tax before Governor Moon Beam starts changing the California tax code ! [}:)] Tight Wad RB NX115RX |
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| Author: | jrevens [ Fri Jan 14, 2011 12:15 am ] |
| Post subject: | It's Tax Time ! |
You're not a tight wad Rich... but you sure help make a case for why more & more people are leaving the Great State of California. It's sad.I just hope Moonbeam doesn't think he can rely on a government bailout. John Evens N71JE Arvada, CO |
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| Author: | Bill Williams [ Fri Jan 14, 2011 3:50 pm ] |
| Post subject: | It's Tax Time ! |
I guess that's why Gus kept his on a trailer in the back yard with the wings folded, |
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| Author: | Fraser MacPhee [ Fri Jan 14, 2011 4:21 pm ] |
| Post subject: | It's Tax Time ! |
This of course means someone in southern California will have to hold 12 T-18 gatherings this year, as the LA basin and points south never fly beyond the state line........ |
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| Author: | Rich Brazell [ Fri Jan 14, 2011 6:30 pm ] |
| Post subject: | It's Tax Time ! |
You are probably right. Don't give them any ammo to shoot you with ! [:p] Talking with the County tax person, I told her the A/C would be kept at home and asked her if they were going to look at the A/C for an appraisal. She said no, "we only go to the airport and look at A/C that are there (plus taking off and landing) and take down N numbers to verify that they are in state A/C. We do not have enough appraisers (2-3) to go to individual houses, we have approx. 2000 GA A/C in San Diego county to look at and not enough people." A tear comes to my eye...the appraisal will be based upon the paper work I submit (plus T-18 comps from BarnStormers). The appraisal form is more geared to production A/C and not experimental, so there is a lot you can do to make it work in your favor...in additon to applying for an Historical Exemption. They got my N number by searching the FAA data base for "new A/C", sneaky devils ! [}:)] RB |
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| Author: | Rich Brazell [ Fri Jan 14, 2011 7:34 pm ] |
| Post subject: | It's Tax Time ! |
"Who you talkin to Willis !" [:o)] |
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| Author: | tubetwister [ Fri Jan 14, 2011 8:15 pm ] |
| Post subject: | It's Tax Time ! |
I deal with the Lassen County tax people about the exemption, they like to question it much (every year they bug me about it, one drawback to livin in a one horse town!). But one of the tax guys told me when I first listed my T18 under the exemption, any time it is out of the hanger (ie: on the ramp) it is on public display. Just log that as a public display (hopefully the lineboy will take a look!) Now my Cessna is a different story, even though it is old enough to qualify for the exemption, it is a partnership, and for some stupid reason (go figger, it Big Bro) that disqualifies it for the exemption. |
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| Author: | Rich Brazell [ Fri Jan 14, 2011 10:21 pm ] |
| Post subject: | It's Tax Time ! |
I guess it depends who you talk to and how they interpret the local tax codes. Like I said we have 2-3 County Mounties to cover the San Diego County area and how are they going to verify "where" I take the plane for the "public to view?" Very interesting your guy said, "pull it outside", mine said public "airshow." How do you define "airshow?" There's more gray area and fuzzy math than on election day ! RB |
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