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Old 08-10-2010, 21:51   #1
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North Carolina Live Aboard Personal Property Tax

Ok looking for advice on livingaboard in North Carolina. looking to buy a slip to live at and we hear about this "personal Property tax" can anyone give me the low down on this.
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Old 09-10-2010, 00:07   #2
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In some states it's a personal property tax, other states it's a luxury tax. No matter where you go, there you are.

Ever played the game Monopoly?
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Old 09-10-2010, 08:07   #3
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Thanks I do realize this but considering that I already payed taxes on the boat in another state, then i would have to pay a yearly % on the value sounds nuts. I was wondering if there is a different rate if your boat is a primary residence. i think its time to float away and give our wonderful government the one finger salute!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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Old 09-10-2010, 08:39   #4
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i believe documented boats may be exempt.
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Old 09-10-2010, 09:13   #5
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Quote:
Originally Posted by R&B View Post
Ok looking for advice on livingaboard in North Carolina. looking to buy a slip to live at and we hear about this "personal Property tax" can anyone give me the low down on this.
When we had our Cal 20 tied up at the marina, we had to pay tax for both the county and city....and we weren't even in the city limits! I forgot what term they used, but it was something like "city proper".

I guess they figure if you can afford a luxury yacht such as a Cal 20 with no motor, head, or cushions, then you are clearly in the status elite and should be taxed more.
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Old 09-10-2010, 09:57   #6
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Try buying and owning a boat in Kalifornia if you really want to feel screwed! Capt Phil
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Old 09-10-2010, 11:40   #7
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Personal property taxes are generally levied on specific types of property (vehicles, boats, etc.) by the county government in which the property is kept. Personal Property Taxes are different from Property Taxes, Sales Taxes,Registration Fees, or Use Taxes.

When I lived in Virginia, I paid personal property taxes on my boat at a rate close to 1% of the assessed value. I legally avoided paying property taxes in years in which the boat was outside the county boundaries for more than one half of the year. I had to prove that fact to the county tax commissioner with receipts and other evidence.

North Carolina may have the same provisions, or could be different. The only way to be certain you have the latest, most accurate information is to contact the county tax commissioner of the county in which you're planning to keep your boat. By the way, the tax rates vary considerably from county to county.
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Old 09-10-2010, 12:10   #8
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I'm glad to hear that you managed to legally avoid your taxes in Virginia, Hud. I wasn't so lucky in San Diego when I left for almost 2 years to Mexico, they still charged me County taxes. When I showed them the receipts from marinas and other various marine vendors over the two year period from Mexico, they just laughed and said pay the tax because it will cost you more in attorneys fees to go to court to try and win. Great attitude, I won't even visit Kalifornia now! Additionally, the California Franchise Tax Board tried to force me to pay sales tax on the purchase of a boat in Washington State even though I kept the boat in Canada for nearly 6 months prior to bringing her down the coast. Once again, I had to produce receipts from my Canadian stay which took an extra trip back to the PNW to accumulate proof that I was actually there. Word to the wise wherever you are, keep receipts of ALL expenditures. The ships log and dated photographs are also helpful. With the wonderful management of state finances across the country these days, tax authorities everywhere are going to be extra vigilant and persistent in collecting what they believe they are due. Capt Phil
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Old 09-10-2010, 18:38   #9
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OMG, And I thougt SWEDEN was hell on earth when it comes to taxes...
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Old 09-10-2010, 19:16   #10
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From my experience, if you have a boat in a slip in North Carolina you are assessed for personnel property tax for the county where the slip property is located. The property tax is assessed even though one is not a resident in that county. The marina sends the boat owner of record information to the county tax office and they render a most welcomed tax bill <insert sarcasim>

Property Tax Rates and Latest Year of Revaluation
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Old 09-10-2010, 20:16   #11
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Take it from someone who lives there. You will pay personal property tax on your boat in NC. If you live in the city limits you will pay city as well as county taxes. You will also pay real estate taxes on your slip. The good news, if you buy your boat from an individual and not a dealer( a yacht broker is not a dealer) you will not have to pay sales or use taxes. In NC sales and use taxes are only applied to boats purchased "at Retail". Of course if you take it to another state you get no credit for your property tax bill on their use taxes. As the boat is a depreciating asset your taxes on the boat will go down a little every year. If your vessel is documented you are not required to register it, however if you take it to another state, they do not recognize NC law and will require you to register the boat in their state if you don't register it in NC.
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Old 11-10-2010, 07:54   #12
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The good news, if you buy your boat from an individual and not a dealer( a yacht broker is not a dealer) you will not have to pay sales or use taxes. In NC sales and use taxes are only applied to boats purchased "at Retail".
So does "at retail" mean "not previously titled"? or - another way to ask...what situation would dictate that purchasing a used boat is taxable?
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