Eliminate the aircraft tax? Louisa currently has lowest rate in the area

Airport officials in Louisa County want to eliminate personal property taxes on aircraft and extend the runway in an attempt to generate more revenue so the airport can become self -sustaining.

The industrial authority, airport manager and supervisors, along with  Jeff Tarkington of the Chesterfield-based airport engineering consultant firm of Talbert & Bright, and Randall Burdette, director of Virginia Department of Aviation, talked about these and other issues, on Thursday, Oct. 17.

Louisa County already has one of the lowest tax rates in the area at 48 cents per $100, compared to 50 cents in Hanover and 70 cents in Orange.

This isn’t the first time that the IDA has suggested the county stop taxing aircraft. Former airport manager Bill Fosdick approached the supervisors earlier this year asking that the idea be considered. The county currently collects almost $10,000 per year from aircraft taxes

The airport, which in recent months added a new fixed-base operator and flight school, are all part of the revenue generating mechanism that the IDA is trying to develop at Freeman Field.

According to Airport Manager Jarrod Powers, there is an extensive waiting list of aircraft owners who want to park their planes in Louisa County, but the tax rate is not competitive.

To read the entire story, see the Oct. 24 edition of The Central Virginian.

By tcvnews
Posted on Monday, October 28, 2013 at 9:23 am