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Old 18-08-2017, 21:18   #31
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Re: Personal Property Tax for Liveaboards

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Originally Posted by hellosailor View Post
Sounds like someone is Cali had an accidental moment of rationality, or realized how many residents lived in trailer parks and would be vote for whoever gave them a homestead exemption.

In most states, the homestead exemptions are against your REAL ESTATE taxes, and if there is personal property tax...TFB. But then again, I think the states that levy personal property taxes are in the vast minority. I'm told that even CT dropped it ages ago.
Actually mobile homes, RV's and Sailboats are all classified as homes by the IRS and most states when someone lives on or aboard. You can deduct interest payments in personal property used for homes too. So states that charge a personal property tax on a mobile home, RV or boats that one uses as their sole home can take a homestead exemption. After all it's not called a real property exemption.

You are correct that mostly it's real estate that gets the homestead exemption. But you can be sure that folks living in mobile homes that pay personal property tax, DO claim a homestead exemption. I did long ago.

BTW most states do charge personal property tax. 16 states do not tax personal property. Most in the northeast.
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