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Old 30-01-2011, 18:21   #46
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Quote:
Originally Posted by Fernao View Post
So what do you pay if you build your boat?
If someone could help me with that, I would be most grateful.

Scott
Scott,
Most likely the tax assessor or his appraiser will determine a value on which a boat is to be taxed. They will have comparables in their database and will also use a "cost" or "replacement" approach to come up with an estimate. Factored into the estimate will be labor, regardless of the fact you built it yourself. If you build a 30' fiberglass monohull that looks like a Catalina 30, you'll probably be assessed on the value of (sit down for this one)... A brand new Catalina 30.

This is not a universal approach but I imagine Florida is about the same as other states I have worked as an appraiser in.
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Old 30-01-2011, 18:25   #47
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Send a message via MSN to John A
This is proving to be a very harsh winter, and cabin fever is taking its toil. Lighten up folks, spring is only 2+ months away - maybe.
Boats in the water, sailing, all that fun stuff remember?
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Old 30-01-2011, 19:05   #48
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Hellosailor:

I am in Florida and the Fish and Wildlife Commission is who I have to talk to after I get the boat built.

My question is if I decide to retire somewhere in Central or South America and get residence and perhaps register my vessel there.
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Old 30-01-2011, 19:07   #49
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Quote:
Originally Posted by rover88 View Post
Scott,
Most likely the tax assessor or his appraiser will determine a value on which a boat is to be taxed. They will have comparables in their database and will also use a "cost" or "replacement" approach to come up with an estimate. Factored into the estimate will be labor, regardless of the fact you built it yourself. If you build a 30' fiberglass monohull that looks like a Catalina 30, you'll probably be assessed on the value of (sit down for this one)... A brand new Catalina 30.

This is not a universal approach but I imagine Florida is about the same as other states I have worked as an appraiser in.
Rover:

If that is the case, then a) i will have to budget that in as building costs, and b) it will be a second home which will be deducted on Federal income tax.

One more question Rover:
What happens if I build a metal hull i.e. a Bruce Roberts design? How do they value it?

Many thanks,

Scott
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Old 30-01-2011, 20:32   #50
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Originally Posted by Mountainview42 View Post
Congratulation hellosailer, you are being awarded todays gold star award for exceptional common sense. In the face of overwhelming dumbed down thought mumblings, you stand tall, and are not afraid to call a spade a spade.
It is good to see that there are still a few people left who stand for common sense, and refuse to sucumb to the dumbed down masses, aka: Bahh-Bahh-Bahh, hurry up jethro American Idol is about to come on the box of knowledge.

As a side note, the movie "Idiocracy" is a sad IMHO, clear example of where society is headed, and fast.
I think the reason it was not a bigger hit (commercially) is that the masses realized, even if only on a subconcious level that not only did the shoe fit...it fit quite well.
And even idiots do not like to be reminded of the fact, that they are idiots.
And of course idiots come in all shapes and sizes and are hard to identify...until they open their mouths and spout nonsense.
Thank you for stepping up and saying No to Idiocracy, and not just letting it slide like most people do these days.

I am reminded of this quote when writing this award letter:
"All it takes for the forces of evil (or Idiocracy in this case) to rule, is for enough good men to do nothing"

Now even just a few years ago, well maybe 30 or 40 years ago, it would be generally thought silly to commend someone for saying something so obvious.
However, today it needs to be recognized, acknowledged, and encouraged lest the Idiots gain even more ground.

Hellosailer, I salute you.
I've heard tequila can have strange effects on some people but this?
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Old 30-01-2011, 20:38   #51
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Quote:
Originally Posted by hellosailor View Post
Scott, if you built it, you didn't BUY it, so there's no basis for sales or use tax.

This is not the case and can be misleading to anyone taking it as a factual statement.
Many states will charge use tax even if it never hits the water in that state. Florida is a relatively user-friendly Tax Assessor and they can factually answer your questions over the phone or in person. You would be far better served speaking directly with them (the DNR, USCG or the FL Fish & Wildlife Commission have no purview over taxation) than depending on advice about your potential tax liability from people here as evidenced above.
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Old 30-01-2011, 21:20   #52
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Quote:
Originally Posted by S/V Illusion View Post
This is not the case and can be misleading to anyone taking it as a factual statement.
Many states will charge use tax even if it never hits the water in that state. Florida is a relatively user-friendly Tax Assessor and they can factually answer your questions over the phone or in person. You would be far better served speaking directly with them (the DNR, USCG or the FL Fish & Wildlife Commission have no purview over taxation) than depending on advice about your potential tax liability from people here as evidenced above.
Actually I agree wholeheartedly with the above and only proffer an opinion and by no means advice. What I have said applies in general to property assessed - real or personal (land/house is real property and cars/boats/etc. are personal property) for taxation in several states. Each has a different set of standards and Florida is in fact pretty easy to deal with compared to many states.

This is a good place to come for opinions, which may be moderately helpful at best - and downright dangerous at worst. The "advice" I would give is to seek a professional opinion, such as a tax attorneys or the actual official charged with assessing this type of property (not the girl at the local DMV).

There may be legal and ethical ways to mitigate your tax liability on a homemade boat and it would be worth the time and cost to explore all possibilities.
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Old 30-01-2011, 21:30   #53
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Quote:
Originally Posted by Fernao View Post
Rover:

If that is the case, then a) i will have to budget that in as building costs, and b) it will be a second home which will be deducted on Federal income tax.

One more question Rover:
What happens if I build a metal hull i.e. a Bruce Roberts design? How do they value it?

Many thanks,

Scott
Scott, once again only an opinion and not advice (believe me, I'm the last person anyone would want to ask for tax advice). Generally a tax deduction as a second home will only help if you have a mortgage on it and it qualifies as a second home under the current tax code, where you can deduct interest on the mortgage. Getting a loan for even a fully completed home built boat would be a real challenge these days.

On the other issue I can't speak, other than to say that there are so many good deals in Florida on used boats right now I would personally be hard pressed to want to actually build one from scratch.
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Old 31-01-2011, 02:58   #54
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Quote:
Originally Posted by Mountainview42 View Post
Congratulation hellosailer, you are being awarded todays gold star award for exceptional common sense. In the face of overwhelming dumbed down thought mumblings, you stand tall, and are not afraid to call a spade a spade.
It is good to see that there are still a few people left who stand for common sense, and refuse to sucumb to the dumbed down masses, aka: Bahh-Bahh-Bahh, hurry up jethro American Idol is about to come on the box of knowledge.

As a side note, the movie "Idiocracy" is a sad IMHO, clear example of where society is headed, and fast.
I think the reason it was not a bigger hit (commercially) is that the masses realized, even if only on a subconcious level that not only did the shoe fit...it fit quite well.
And even idiots do not like to be reminded of the fact, that they are idiots.
And of course idiots come in all shapes and sizes and are hard to identify...until they open their mouths and spout nonsense.
Thank you for stepping up and saying No to Idiocracy, and not just letting it slide like most people do these days.

I am reminded of this quote when writing this award letter:
"All it takes for the forces of evil (or Idiocracy in this case) to rule, is for enough good men to do nothing"

Now even just a few years ago, well maybe 30 or 40 years ago, it would be generally thought silly to commend someone for saying something so obvious.
However, today it needs to be recognized, acknowledged, and encouraged lest the Idiots gain even more ground.

Hellosailer, I salute you.

and who says the Americans can't do irony
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Old 31-01-2011, 08:54   #55
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Quote:
Originally Posted by Fernao View Post
So what do you pay if you build your boat?
If someone could help me with that, I would be most grateful.
Scott
In Florida, I built, actually rebuilt, a boat trailer and subsequently had to register it as a homebuilt. The DMV will issue you a HIN - identification number for the "homebuilt" that you affix permanently to the item. Then they will issue you a title and register the homebuilt. You can set a value on the homebuilt that is reasonable considering the style and size of the thing. But if you are way off from what is in the Fla guide that the DMV uses to set valuation, you may get into a mess about it.
- -You really just need to stop by a local Fla Tax Office where they will have a separate section/office for boats and explain what you are doing and the clerks will give good guidelines and info about what is what. ** The smaller the office in a small town is better than a big office in a major city.** The clerks are friendlier and normally have worked there for most of their lives - low turnover - and know what is the straight scoop. They are less busy and can spend some time with you explaining things. I went to a little office in Merritt Island and the clerk asked about everything and ended up saving me thousands of dollars in taxes I did not need to pay but thought I did need to pay. Needless to say, I was one happy guy.
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Old 09-02-2011, 14:58   #56
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From personal experience in transferring state registrations from one state to another if you can prove you paid state taxes in one state and move it into another state for longer than permitted you pay the difference in tax rates. State "A" with 6% tax to State "B" at 7% one would pay the 1% increase. If you move from State "B" to State "A" there would be no tax but would be basic registration fees.
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