Section 270.072 Taxation and Assessment of Flight Property - Minnesota Statutes

270.072 TAXATION AND ASSESSMENT OF FLIGHT PROPERTY.

Subdivision 1.Tax on real estate.

All real property of an airline company and all personal property thereof except flight property shall be taxed as otherwise provided by law.

Subd. 2.Assessment of flight property.

Flight property that is owned by, or is leased, loaned, or otherwise made available to an airline company operating in Minnesota shall be assessed and appraised annually by the commissioner with reference to its value on January 2 of the assessment year in the manner prescribed by sections 270.071 to 270.079. Aircraft with a gross weight of less than 30,000 pounds and used on intermittent or irregularly timed flights shall be excluded from the provisions of sections 270.071 to 270.079.

Subd. 3.Report by airline company.

Each year, on or before July 1, every airline company engaged in air commerce in this state shall file with the commissioner a report under oath setting forth specifically the information prescribed by the commissioner to enable the commissioner to make the assessment required in sections 270.071 to 270.079, unless the commissioner determines that the airline company or person should be excluded from filing because its activities do not constitute air commerce as defined herein.

Subd. 4.Extension of time.

The commissioner for good cause may extend for not to exceed 30 days the time for making a report.

Subd. 5.

[Repealed, 2000 c 490 art 5 s 40]

Subd. 6.Airflight property tax lien.

The tax imposed under sections 270.071 to 270.079 is a lien on all real and personal property within this state of the airline company in whose name the property is assessed. The lien attaches on January 2 of each year for the taxes payable in the following year.

History:

1945 c 418 s 2,3,7,10; 1976 c 334 s 3,4; 1986 c 444; 1989 c 277 art 2 s 9,10; 1993 c 375 art 3 s 3; 2000 c 490 art 5 s 1,2; 2005 c 151 art 2 s 17; 2008 c 154 art 13 s 2-4