54.99 K over six years, not counting oil, gas, insurance, and incidentals - easily over 60 k.
But, could you expect to get that much for it if put up for sale? Nah. You can ask, but will you get any buyers?
I know one instance where want the value of my airplane to be as low as possible, and that is when the County of Santa Clara asks me to give them my annual estimate of its value for their annual appraisal for property tax purposes. I'm supposed to give TTAF, TSMOH, etc. There is a list of things I am supposed to check off and estimate "good condition," "average condition," "Poor condition," etc.
In past years, the exterior and interior were listed as fairly "poor."
As I recall, last year the plane was appraised at $17,500 or something like that, and that's after I told them I had an engine overhaul. 1.5 percent x $17,500 = approx. $263 in annual property tax.
It will be interesting to see how much higher the county appraises the value of a standard 1968 C-150 when I inform them that I had plane painted and that I spruced up the interior this year. I'm figuring maybe it will go up to $20K, at the most.
If they have the audacity to tell me it is appraised at $40K-$50K, they will have an argument on their hands.
