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Old 12-06-2012, 13:07   #1
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County Property tax - a poll of sorts for US boaters

Many of us get charged a property tax for keeping the boat in whatever country we're in. The county where our boat is at the moment not only taxes you on the value of the boat but adds what you paid or what they think you should have paid into the equation. Here's an example:

Assume 1% tax rate:

Value of boat $100,000

Most counties would tax $1000 per year.

County we're in takes value of boat and plugs in 8% additional for sales tax and taxes boat based on a valuation of $108,000 thus getting an extra $80.

Does anyone in CA or elsewhere in US get taxed by county in similar manner? In other words, do they factor in sales tax to your boat valuation?
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Old 12-06-2012, 13:21   #2
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Re: County Property tax - a poll of sorts for US boaters

That 1% is only the countywide tax. There can be additional property tax amounts. For instance, I am charged city, BART, parks, school bond, and community college taxes. This results in a tax rate of 1.121% for me. That's my old boat bought 30 years ago, so I don't have info on it's original valuation regarding sales tax.

Haven't yet received an assessment/tax bill on my new boat. Paid user charge rather than sales tax, but don't know if that will make a difference.
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Old 12-06-2012, 19:00   #3
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Re: County Property tax - a poll of sorts for US boaters

I bought my Cat 36 12 years ago for $ 70,000. Just got my bill and my assessed value is now $ 20,750. The tax is 1.2% = $ 250.49 . I was recently offered over $ 50,000 for the boat, so whatever method they're using works for me.

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Old 12-06-2012, 19:25   #4
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Our boat booked out at the bank for $30k. Not that nada has anything to do with reality but banks and taxing authorities sometimes rely on it. We bought our boat for $15k (distress sale). We get annually taxed on the purchase price only, depreciated each year, currently $42 a year. That's what, about a quarter percent? (south dakota)
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Old 12-06-2012, 20:12   #5
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Re: County Property tax - a poll of sorts for US boaters

this is only an assumption. I live in TN on the border with KY. I was told it was best to live on the TN side of the border because KY charges property tax on cars. So I would assume they do the same with boats. I'm looking at using my boat in KY so might get charged something but I don't know what the rates are right now.
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Old 12-06-2012, 20:31   #6
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Re: County Property tax - a poll of sorts for US boaters

In Hampton, VA, we get taxed by the county (not the state), at a rate for a privately owned recreational watercraft is .000001 percent of each $100 valued. of the property.

So, for my 30 foot boat I paid $5k for, my tax rate is .0005 cents per year..


Move to Hampton.

City of Hampton, Assessments and Collections - Tax Rates

(edit) my math is wrong on this....

What is .000001 percent of $100? multiplied by boat value?

(edit #2), I think thats about 5 cents for a $5000 boat. Am I wrong?

NOTE: this is a boat registered out of state. registration fee's are in MD (for my boat) are in the range of $30 every 2 years.
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Old 12-06-2012, 20:45   #7
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Re: County Property tax - a poll of sorts for US boaters

Still wondering if anyone is being taxed on the sales tax they paid.
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Old 12-06-2012, 20:49   #8
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Re: County Property tax - a poll of sorts for US boaters

Quote:
Originally Posted by islandplanet View Post
Still wondering if anyone is being taxed on the sales tax they paid.
Paid my "Excise" (5%) tax to MD when I registered the boat (as an OH resident) Only cost $24 to keep it up to date every 2 years....
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Old 12-06-2012, 20:50   #9
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Not in Virginia. Hard to believe you are taxed on sales tax paid.
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Old 12-06-2012, 20:55   #10
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Re: County Property tax - a poll of sorts for US boaters

In Hampton, the tax is not even worth the price the stamp and envelope.

Still not sure why they even do it.
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