Texas Aircraft Rendition of Taxable Property (Form 50-159)

[redbaron1982]

Hi all, a couple of months ago I received a letter from the Fort Bend central appraisal district regarding my Mooney, to fill Form 50-159. The way I understand the letter, as I'm using the aircraft for personal use / pleasure I don't have to fill the form, but just want to double check.

What confuses me is that the letter starts with "Aircraft owners in Texas are legally required to file the .... form" but then it continues with "this form is designed for the declaration of aircraft property that is used for income-producing purposes and was owned or managed in a fiduciary capacaty as of January 1".

[Hank]

Here in Alabama, all aircraft are considered (and taxed) as business property, even though I told the clerk at the courthouse that I am not, have not been in the past and have no plans to be in the future, an officer, owner or director of any company. The value went up significantly last year, then down a bit already this year. Seems it was $344 last year.

When I lived in Ohio, registration for light aircraft was $20/seat each year. 

Every state is different. Just remember that out there in Texas, ya'll ain't got no income tax . . . .

[1980Mooney]

22 hours ago, redbaron1982 said:

Hi all, a couple of months ago I received a letter from the Fort Bend central appraisal district regarding my Mooney, to fill Form 50-159. The way I understand the letter, as I'm using the aircraft for personal use / pleasure I don't have to fill the form, but just want to double check.

What confuses me is that the letter starts with "Aircraft owners in Texas are legally required to file the .... form" but then it continues with "this form is designed for the declaration of aircraft property that is used for income-producing purposes and was owned or managed in a fiduciary capacaty as of January 1".

Wrong.  You need to fill it out.  It will go onto the County Tax roll as "Personal Property" which is tax exempt.  I am in the same county. 

If you don't fill it out it they will assume that it is income producing and you will be taxed.

[1980Mooney]

@redbaron1982 also, where it asks for “estimated value“ just use the price you originally paid for it. The first time I filled out this Texas form for the county was in the early 2000’s. I use the price that I paid for it used in the 90’s. During the past 20+ years, the county has only adjusted the “appraised value” upward once and it wasn’t much and certainly not anything close to market value    

[redbaron1982]

Thanks, will do!