West Virginia Code 11-6H-3 – Valuation of special aircraft property
Current as of: 2023 | Check for updates
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Notwithstanding any other provision of this code to the contrary, the value of special aircraft property, for the purpose of ad valorem property taxation under this chapter and under article X of the Constitution of the State of West Virginia, shall be its salvage value.
Terms Used In West Virginia Code 11-6H-3
- Aircraft: means a weight-carrying structure for navigation of the air that is supported by the dynamic action of the air against its surfaces and includes, but is not limited to, an airplane or helicopter. See West Virginia Code 11-6H-2
- Salvage value: means the lower of fair market salvage value or five percent of the original cost of the property. See West Virginia Code 11-6H-2
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
- Value: means in the case of any document not a gift, the amount of the full actual consideration for the document, paid or to be paid, including the amount of any lien or liens assumed. See West Virginia Code 11-22-1