Photo of Small AircraftThe Washoe County Assessor's office currently has 499 aircraft on the Personal Property roll. These aircraft had a net assessed value of around $62 million for the 2022/2023 fiscal year. Aircraft are billed on the Personal Property roll annually. Nevada Revised Statues (N.R.S. 361.227) requires that the taxable value of an aircraft be determined by the cost of replacement less all applicable depreciation and obsolescence. The cost of replacement is calculated using the purchase price of the aircraft, the year acquired, and a cost index. The State of Nevada Department of Taxation supplies the cost index and depreciation schedule for personal property of various life expectancies. For property tax purposes, the 20 year life table is used to value aircraft and rotorcraft. Hot air balloons, gliders and experimental aircraft are assigned a life of 15 years.


Using the 2023/2024 schedules provided by the State of Nevada, Department of Taxation, the taxable value for an airplane purchased in 2018 for $50,000 is computed as follows:

Airplane was purchased in 2018 for $50,000
Cost of replacement today is $50,000 x 1.22 $61,000
Depreciation to date is $61,000 x 41% $25,010
Taxable value equals $61,000 less $25,010 $35,990
Assessed value is $35,990 x .35 $12,597

This results in a taxable value of $35,990 and an assessed value of $12,597 after applying the 35% assessment ratio.

For tax information please visit the website of The Washoe County Treasurer. For additional information on aircraft on the Personal Property roll, please contact the Washoe County Assessor`s office at 328-2213.