Commuter air carriers paying excise tax

From the 2024 DOR Tax Exemption Study

84.36.133 - Commuter air carriers paying excise tax Description An aircraft owned and operated by a commuter air carrier is exempt from property tax for the calendar year if the owner has paid aircraft excise tax on the aircraft for that year. Purpose Recognizes the difficulty in providing accurate aircraft values for property tax purposes. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.030 $0.031 $0.032 $0.032 Local Taxes $0.089 $0.094 $0.100 $0.106 Repeal of Repealing a property tax exemption would not increase state revenues. A repeal exemption shifts the state property tax to the currently exempt taxpayers and reduces the tax burden of other taxpayers. It may decrease the local rate and possibly result in local taxing districts at their statutory maximum rate experiencing a revenue increase. Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $0.003 $0.006 $0.006 Assumptions - The total estimated exempt value is $14 million. - This repeal takes effect beginning with property taxes due for calendar year 2025. - Growth rate mirrors the property tax gr