Watercraft & General Aircraft
California law requires an annual assessment for property taxes on all watercraft (vessels) and general aircraft based on the location and value of the property on January 1 of each year. The owner, possessor, or controller of the property is required to file an annual Property Statement with the San Bernardino County Assessor. If the property has an aggregate cost greater than $100,000, or the Assessor requests them to file a property statement, a 10% penalty will be added to the assessed value for failure to file a timely property statement.
The purpose of the property statement is to provide the Assessor with information regarding the property which will aid in making a fair market value assessment for property taxes.
The Assessor receives information on the ownership and location of the property from the State Board of Equalization, DMV, Federal Aviation Administration, US Coast Guard, Airport Operators, and receives referrals from other counties and states.
Since boats and aircraft are personal property and mobile, they may have various locations throughout the year. The assessment location may be determined to be the site where they are regularly or routinely located or the principal place of the owner, possessor, or controller of the property. For more information go to the Board of Equalization website www.boe.ca.gov, Forms and Publications, Property Taxes, Assessor Handbook, AH577 Assessment of General Aircraft and AH576 Assessment of Vessels.