Light weight low cost four stroke engines, good Rotax replacements.

"Richard Riley" wrote in message
...

He may well reduce the value if you reply to his letter with something
like "The aircraft referenced is a one of a kind homebuilt. It is
currently disassembled and being repaired. It's only value is as
scrap, since it's major componants were not arcraft grade."

Hard to believe the same person would give advice on how to cheat on one's
taxes in one posting, while getting upset over storing cars in a hangar to
save money in another.

:California is a weird place. I got a copy of one of my sports car mags
:and it has a fawning article about a developer who keeps his Ferraris
:in a hangar at SMO -- federally subsidized, it's cheaper than any other
:commercial real estate in SoCal.

Grrrrrrrr. My blood pressure rises.

Are there two "Richard Riley's" out there??? The world wonders.

Rich "I'm of two minds about that!" S.

"Richard Riley" wrote in message
...

"The aircraft referenced is a one of a kind homebuilt. It is
currently disassembled and being repaired. It's only value is as
scrap, since it's major componants were not arcraft grade."

snipped here and there

For the storing of cars - I'm not angry at the rich developer. I'm
angry at Santa Monica Airport. On one hand they tell tennants that
they MUST store airplanes in the hangars and nothing else. If you go
on a trip, you can't store the car you came to the airport in inside
the hangar.

Ergo, it would be illegal to store "scrap" in a hangar and you would fall
into the same class as the Ferrari owner.

You can't have it both ways, my friend.

Are you trying to say that if you presented the assessor with an appraisal
from a source qualified in aircraft valuation and accompanied it with comps
(little real estate talk there) it would have less effect on his assessment
than a note such as you suggest above?

Rich S.

It's value is as scrap - but it still has an N number. So it's still
an airplane.

Now if the evil developer wants to register the Ferarri as an airplane,
put 3" N numbers on it, put an airspeed indicator, altimiter and a
compass on the dashboard, I'm completely with him. You can register
ANYTHING as an airplane. I'm told there's a broom and a carpet out
there with N numbers, hanging from a ceiling. If the airport says
things in hangars must be registered as airplanes, they should stick to
it. Or not. Not different rules for celebrities and rich people.

And an independent appraisal may well have more impact than a note from
the owner. Neither one may have ANY impact. After the prototype
Berkut was destroyed (and it was completely, throroughly destroyed, the
only things salvagable were hydraulic fittings) we got an propert tax
bill for it. We sent photos of the pieces, they sent the SAME BILL
with interest. It only went away when the corporate owner went through
Chapter 7.

wrote in message
oups.com...
It's value is as scrap - but it still has an N number. So it's still
an airplane.

Horsepoop. Taking the cowling off doesn't make it scrap and you know it. You
are advocating cheating while saying "Grrr" about someone else doing the
same thing.

I rest my case.

Rich S.

So what DOES make it scrap? And, once it's valued as scrap, what makes
it not scrap again?

Richard Riley wrote:
...

The assessor can assign any value to your homebuilt he wants, and
there's no appeal. If he decides that your RV-3 has a Lycoming, and
so does a new Piper Malibu Mirage, you get a bill for $7,000, and if
you fail to pay it he will confiscate your house. Again, no appeal is
available. So if I give him information that moves him toward a more
realistic valuation of my airplane, I think I'm doing something good.

These are the same people that tried to levy property tax on Boeing
for communication satellites that are in orbit over Africa. Their
theory was that the sats were merely stored in orbit, and were
actually housed in El Segundo

"Tried"? If there is no appeal, what stopped them?

--

FF