Fighter Factory 2014 update?

[Mike]

So 3.7% on a collection that is probably worth, what, ballpark $30m+, so we're talking over $1m a year for 4 years (current plus 3 years back).

$5m is enough to make anyone's eyes water!

I hope they do manage to get exemption.

[Obergrafeter]

Sounds like he needs to move the Museum to Texas!!! There is no personal property taxes on non-revenue aircraft and wholly none on "Antiques" We need more aircraft museums here in Texas especially here in the Hill Country.

[Warbird Kid]

We need more aircraft museums here in Texas especially here in the Hill Country.

Surely you can't be serious... Texas? Texas?! Im pretty sure Texas has 30 to 40% of the flying warbirds in North America. If not, that number can't be much off. You've got enough flying museum's / private owners. We need all the help we can get in the North East! If anything he's got to move north!!!!!!

He should have tried to acquire an original abandoned WWII airfield. There seems to be more than a few of them throughout the states in that area that are either being reused or completely unused. Would have been cool if he was able to work with the local government and build his base at one of those.

[Mark Allen M]

(current plus 3 years back)

Don't forget three years of penalties and interest as well to your equation. I would also certainly bet that any warbird enthusiasts among those in the Commissioner of Revenue's Office have put their enthusiasm for warbirds on hold only to enhance their enthusiasm for collecting three years of back taxes.

Warbird Kid although your thoughts are sincere, you're not paying attention to the premise of the conversation. It's not about location as much as it's about state tax structure. If it were just about location, I have several great ideas for Yagen's collection

[Warbird Kid]

(current plus 3 years back)

Don't forget three years of penalties and interest as well to your equation. I would also certainly bet that any warbird enthusiasts among those in the Commissioner of Revenue's Office have put their enthusiasm for warbirds on hold only to enhance their enthusiasm for collecting three years of back taxes.

Warbird Kid although your thoughts are sincere, you're not paying attention to the premise of the conversation. It's not about location as much as it's about state tax structure. If it were just about location, I have several great ideas for Yagen's collection

That being said, wouldn't New Hampshire be a great alternative? Im not knowledgeable in this field but, Im sure some people here are more economically savvy and could enlighten us.

[Russ Blow]

The Fighter Factory still has hangar space over at SFQ in Suffolk. I pay .58 cents per $ 100 PP tax there. In Virginia Beach the tax rate is $ 3.70 per $ 100. That is a huge difference. If the city wont give them an exemption hangar the planes at SFQ again.

My L 4 is assessed at 35k at SFQ and I paid $ 203 for PP tax. If it had been based in Va. Beach I would have to pay $ 1,295.

Perhaps they could claim the PBY as a recreational boat. In VB the tax rate on those is one millonth of a cent per hundred!

I do find it laughable that some residents are griping about operations there considering we all live within a few miles of Oceana and Fentress. If you live in Va Beach you live under a constant risk of an aircraft crash though that exposure is minimal. Also Yegans field has been an airfield for ages. Both crop dusters and banner tow aircraft had operated out of there long before Yegan bought the property.

[lmritger]

For those not privy to the clownshow that is the Va Beach City Council, they have proven themselves spectacularly inept at making good business decisions for... well, for decades now. The latest fracas involved a massive giveaway in tax breaks (in the millions of dollars) to a developer to do something with the landmark Cavalier Hotel. I'm simply guessing here, but this smells a bit like a Council that realized they screwed the city something fierce in that deal, and they're looking for someone to fleece in order to make up some of that income shortage... so why not go after the rich guy with the pretty airplanes?

And for the hand-wringers crying "Think of the children!" with regards to the aircraft flying over that rural area... others have it exactly right, we've already had an F-18 plonk down in an apartment complex off of Birdneck Road a couple years back, thankfully with no loss of life, but those are a far greater threat than anything which the MAM owns and flies. It's scare-mongering horsecrap, pure and simple.

Lynn

[Warbird Kid]

Have to agree with you there Lynn. Local politics… well…. any politics just never seem to amount to much productivity and success. A shame really.

[Baldeagle]

Culpeper County, Virginia is said to be doing away with personal property tax on airplanes, supposedly they decided that the resulting increased business at the County airport would more than make up for the lost revenue. Now I'll only get three tax bills from the County: house, car, and business-



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[tacoope]

And there I was thinking that we were over taxed, at least we get a health care system out of it.

Terry