Current through L. 2024, ch. 259
Section 42-14255 - Assessment, levy and collection of tax; limitation on small airline company taxA. The department shall annually:1. Enter in its records the full cash value as determined under this article of the flight property of the airline companies in this state.2. Assess the property as provided by sections 42-12005 and 42-15005.3. Levy a tax against the values so determined and assessed at a rate that equals the sum of the average rates for primary and secondary property taxes in the taxing jurisdictions in this state for the current year.4. Collect the taxes according to the schedules prescribed by section 42-18052.5. Deposit, pursuant to sections 35-146 and 35-147, the tax revenues in the state aviation fund.B. The tax imposed by this section is in lieu of all other ad valorem taxes on the flight property of airline companies in this state.C. Delinquent taxes bear interest at the rate determined pursuant to section 42-1123.D. The full cash values that are used for tax purposes pursuant to subsection A of this section are a matter of public record and are not confidential information under chapter 2, article 1 of this title.