California aircraft owners who are dissatisfied with the amount of the property tax bill they paid this past summer need to remember that the deadline for filing an appeal in Los Angeles County and 47 other California counties is December 1st.
A complete list of all 58 California counties and their property tax appeal deadlines is available on the State Board of Equalization website and can be accessed by clicking here. Please note that 10 California counties had an earlier appeal deadline (September 15th) which was publicized in a previous Aerlex article that appeared in mid-August.
Aerlex Tax Services Specialist Vicky Boladian said that the firm already has addressed many inquiries from aircraft owners who are unhappy with the size of their fiscal year 2014-15 property tax bill and want to learn more about how to appeal the amount of the assessment. Aerlex has successfully represented many aircraft owners in past years in appeals filed with county assessment appeals boards and has even litigated property tax disputes all the way up to the California Courts of Appeal.
Ms. Boladian said that for many aircraft owners the assessments on their aircraft this year continue to reflect unrealistically high values. The market value of most piston and turbine-powered aircraft began falling in the autumn of 2008 and, although some have recovered, many have continued downward in the intervening years through 2014.
Ms. Boladian stressed that the owners who disagree with the assessed value of their aircraft and intend to file an appeal with the assessment appeals board should still have paid their tax bill before the August 31st delinquency date. Those who did not will be subject to a 10% penalty plus collection costs. In addition, there are other possible penalty fees. The county tax collector also has the right to file a tax lien on the aircraft and seize it for payment of the unpaid taxes.
Many of Ms. Boladian’s clients are based on the east coast and are not residents of California. However, they’ve been assessed property tax in California due to their frequent visits to Los Angeles. “I make certain that our clients only pay the tax they really owe to the State of California and not a dollar more.”
If you own property or conduct business outside of California, call Vicky Boladian [310-392-5200] for a free consultation on how to strategically reduce your property tax assessment.