How is the tax amount computed?

In Nevada, the taxable value of an aircraft is derived by applying a 20-year life depreciation factor to the owner's original acquisition cost. Assessed value is computed by multiplying the taxable value by 35%, rounded to the nearest $1.00. To calculate the tax on your aircraft, let's assume a tax rate of $3.50 per hundred dollars of assessed value used in the example below: Aircraft purchased one year ago at a cost of $10,000......................... $10,000 The taxable value after depreciation is 10,000 x .90= ........................ 9,000 The assessed value for the aircraft is 9,000 x .35 = ........................... $3,150 The tax on the aircraft would be 3,150 x .035 = ................................ $110.25

Show All Answers

1. Is aircraft in Nevada Subject to taxation?
2. Who must file an aircraft appraisal declaration with the Assessor?
3. What is the purpose of the declaration?
4. When may an aircraft owner expect a personal property tax bill?
5. How is the tax amount computed?
6. How do I obtain an aircraft appraisal declaration?
7. Where can I obtain assistance in completing the aircraft appraisal declaration?