Vessels and Aircraft

Vessels


On August 20, 2015 the Kodiak Island Borough adopted Ordinance FY2015-11 exempting all boats and vessels used for commercial purposes from property tax. This ordinance took effect on January 1, 2016.

Aircraft


Commercial aircraft issued an N number by the Federal Aviation Administration (FAA) by January 1 of the tax year and have a takeoff weight less than 12,500 pounds are subject to a borough flat tax based on gross takeoff weight, regardless of value.

Commercial aircraft with a takeoff weight more than 12,500 pounds are taxed in accordance with the Kodiak Island Borough landing schedule formula. The KIB landing schedule formula provides for the prorated calculation of scheduled aircraft by dividing the total hours in a year into the total time the aircraft is in the Kodiak Island Borough, and multiplying the result by the assessed value of the aircraft.

All current and newly discovered aircraft account holders are mailed an aircraft filing form November 15 of each tax year. The filing form must be returned to the Assessing department by January 15 to avoid late filing penalties.
 
If the aircraft was removed from the borough, provide a signed statement indicating when it was removed from the Kodiak Island Borough.

If a change in ownership occurred, provide a copy of the bill of sale or a written statement including the new owner's name and address, date of sale, and sale price.

If the aircraft was destroyed, provide documentation that determines the property to be a total loss prior to January 1 of the tax year.