Where to get an accurate boat valuation?

[Freemills]

Has anyone else been hit with a much higher property tax bill this year? The valuation of boats in my county automatically went up 21-23%. The property tax assessor's office said they were instructed to raise valuations and therefore, property taxes b/c COVID and supply chain issues raised the value of boats.

My only recourse is to file an appeal. I need to find multiple sources showing the valuation of my boat.

Any suggestions?

I've looked at nadaguides.com, but I'm confused about the 3 different values: suggested list price, low retail, average retail.

Any helpful advice welcome!

[macieknan]

You could try and ask any boat broker for soldboats comps for your model and year - it's a report showing actual price the vessel was sold for, when, where and how many days it was on the market. Useful for popular production models and it may allow you to avoid expensive survey.

[PippaB]

Same here, our boat (in CA) is now valued (by the assessor) at 25% more than what we paid for it 6 years ago, and the only big maintenance we've done is spend ~$6k on new rigging. But sails, engine, and boat are all 6 years older than when we bought her. Trying to find comps is difficult/impossible, the only ones for sale are in Europe and are VAT paid, and even just trying to explain to the assessor that the price they see online includes tax (at 15-20%) and that's not how we value things here is a non-starter.

So, sympathy more than any suggestions. The only thing I actually have that has piques the assessor's interest is an agreed value in the insurance policy, which has been left at the purchase price all these years.

[sail sfbay]

Same in Alameda and Contra County!! Appeal.........but good luck.

[Wayne Bostow]

I'm in Texas hoping someday to own a yacht. Do we pay property tax here on a boat? I never heard of it. Is this a California thing? What about Michigan or Ontario? If I purchase and keep a boat there will I be subject to an assessor's whim?

[sail sfbay]

Originally Posted by Wayne Bostow

...........Do we pay property tax here on a boat?...........Is this a California thing? What about Michigan or Ontario?.....

Contact the State County and City state taxation departments for each state. In California, the marinas and DMV, if state regustered, advise the county tax assessor who issues an unsecured personal property tax bill ANNUALLY to the bpat owner.

[Wayne Bostow]

What if it's Coast Guard registered? Does that exempt an owner from state taxation? --WB

[sail sfbay]

It does not.