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Aircraft Personal Property
Aircraft Taxation
Appraisal Declaration
Tax Bills
Determining Value
Aircraft Taxation
According to Nevada Revised Statutes, all property not
defined or taxed as “real estate” or “real property” is considered to be
“personal property”. Taxable personal property includes aircraft,
manufactured homes and all property used in conjunction with a business. The
taxation of personal property has been in effect since Nevada became a state
in 1864. Nevada Revised Statutes, Chapter 360-361, provide for the taxation
of all property, unless specifically exempted by law. Since aircraft are not
exempted, they are taxable.
Aircraft Appraisal Declaration
Who Files
All individuals or companies having aircraft in Lyon
County must file an annual declaration. The declaration is normally filed
during the month of July each year. If the declaration is received at any
other time, it is due within 15 days of receipt. Aircraft owners bringing
aircraft into Lyon County for the first time should contact the Assessor's
office to obtain an Aircraft Appraisal Declaration. Please remember, it is
the responsibility of the aircraft owner to inform the Assessor of any
changes in ownership, location or mailing address.
Why File
The completed declaration provides the information needed
to determine the taxable value of the aircraft. The year of purchase is
needed so that the value of the aircraft can be reduced by any applicable
depreciation. The purchase price should be reported without sales tax. The
purchase price does include any additions or upgrades to the plane such as
extra fuel tanks, special or additional avionics etc. If the aircraft is
registered and taxed outside of Lyon County, please check the applicable box
and provide a copy of the current registration and tax receipt. Because
aircraft are mobile, a declaration and the current registration and tax
receipt must be filed each year.
Tax Bills
Though the declaration may be completed and returned to
the Assessor in July, the personal property tax billing may be calculated and
sent any time between the time it is received by the assessor and the
following April 30. The returned declaration will be processed by the
appraisal staff and billed accordingly. The appraisal staff may request
additional information in order to verify the information on the completed
declaration. The tax billing becomes delinquent and subject to a penalty 30
days after the first billing date.
Determining Tax Amounts
In Nevada, property taxes are based on “assessed value”.
In the case of aircraft personal property taxes, a “taxable value” is arrived
at by reducing the original purchase price or acquisition cost by depreciation factors.
Assessed value is computed by multiplying the taxable value by 35%, rounded
to the nearest $10.
Example: (2005/2006 Fiscal Year)
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