Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2024
Property Tax Annotations
A B C D E F G H I L M N O P R S T U V W
A
105.0000 AIRCRAFT OF HISTORICAL SIGNIFICANCE EXEMPTION
Annotation 105.0060
105.0060 Newly Constructed Kit Aircraft. The exemption for aircraft of historical significance would not apply to a newly constructed kit aircraft based solely on the fact that there are fewer than five known to exist worldwide. To be exempt, an aircraft must relate to history or be based on history, or have existed in the past. In addition, the aircraft's continued existence must be threatened or at risk of extinction. Therefore, a newly constructed kit aircraft that has not been in existence and does not relate to history cannot be at risk of becoming extinct and thereby would not fit within the scope of the historical aircraft exemption even if fewer than five were known to exist worldwide. The requirement that there be fewer than five in the world did not stand alone from the requirement that the aircraft also be one that is historically significant. C 4/20/2016.