Fair Market Value for Tennessee's Hangars and Land Leases
TDOT Aeronautics Division has developed the Hangar and Land Lease Interactive Equation Module and Companion Guidebook to assist Tennessee's airports in charging fair market value for their hangar spaces and private hangar land leases.
Despite the desirability of Tennessee's hangar spaces and the reported low supply of hangars, the findings from the recent TASP Rates and Charges Survey outlined relatively low hangar rents and inconsistency in land leases. This contributes to long hangar waitlists for prospective hangar tenants.
