We got the dredded Vessel Propety Statement for the State of California in the mail yesterday. Can anyone give me an idea of what to expect? Is it 1% of value? Thanks, John Richard s/v Jack's Place
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That is about it
John: That is about it. They take the book value on the boats and use the 1% factor. Some counties have some other ways to get money out of you for some other assessments but 1% is the basic assessment. We just got ours for our '85 H'31 and it was about $235 for the tax bill and about $260 for the insurance bill (all in the same week, isn't that nice).
John: That is about it. They take the book value on the boats and use the 1% factor. Some counties have some other ways to get money out of you for some other assessments but 1% is the basic assessment. We just got ours for our '85 H'31 and it was about $235 for the tax bill and about $260 for the insurance bill (all in the same week, isn't that nice).
Be Happy, there is water in your pond <grin>
Some of us would be happy to pay those fees if there was adquate sailing water in our Lakes. <grin>
Some of us would be happy to pay those fees if there was adquate sailing water in our Lakes. <grin>
Rick, when you have as much money as..
Rick: When you have as much money as JR you would not care about a few bucks here or there!<g> Actually on my boat they are probably a little under the actual value but close enough for conversation sake. And if I sold it I probably would only net about their valuation anyway.
Rick: When you have as much money as JR you would not care about a few bucks here or there!<g> Actually on my boat they are probably a little under the actual value but close enough for conversation sake. And if I sold it I probably would only net about their valuation anyway.
Be Glad You're not in Virginia
When I bought "Java" in October, one of my main worries was the "Personal Property Tax" in Virginia. It is left up to the counties to set what ever value they want. In four different counties along the lower Potomac to Chesapeake they could charge $970 upto $6440 per year based on book value. And since this was a new boat they would charge against the gross value I paid, not net!!! Depending on county the charge was around $4 to $4.60 per hundred of value. Otherwise (Value/100)*4.60 = TAX OUCH!! Because of this I keep my boat in Maryland and only, ONLY? had to pay 5% of net sale price and never pay again. In some counties in Virginia the have no property tax or should I say its $1.00 and they don't collect. I see this as a ruse to be able to raise taxes when the get in a pinch since it is still on the books.
When I bought "Java" in October, one of my main worries was the "Personal Property Tax" in Virginia. It is left up to the counties to set what ever value they want. In four different counties along the lower Potomac to Chesapeake they could charge $970 upto $6440 per year based on book value. And since this was a new boat they would charge against the gross value I paid, not net!!! Depending on county the charge was around $4 to $4.60 per hundred of value. Otherwise (Value/100)*4.60 = TAX OUCH!! Because of this I keep my boat in Maryland and only, ONLY? had to pay 5% of net sale price and never pay again. In some counties in Virginia the have no property tax or should I say its $1.00 and they don't collect. I see this as a ruse to be able to raise taxes when the get in a pinch since it is still on the books.
San Francisco Bay area it's 1.25%
That's for *both* the boat and the value of the berth space you lease.
That's for *both* the boat and the value of the berth space you lease.
Think you've got it bad
My airport charges property tax on the value of the aircraft and rented hangar at 1%. 180k hangar plus ac is a big nut, then add the boat at a grossly high amount that they will have a hearing on. Break out the tea party.
My airport charges property tax on the value of the aircraft and rented hangar at 1%. 180k hangar plus ac is a big nut, then add the boat at a grossly high amount that they will have a hearing on. Break out the tea party.
consider documentation
i believe if you have your boat documented with the Coast Guard, you don't have to pay property tax any longer. The boat is under national registry and no longer responsible to the individual state.
i believe if you have your boat documented with the Coast Guard, you don't have to pay property tax any longer. The boat is under national registry and no longer responsible to the individual state.
Don't think that is correct.
Hugo: I do not believe that is correct in the state of California. The marina where you reside reports all the owners to the county. This is how you get an assesment and taxed within the state of Calfornia. It is not from the state registration.
Hugo: I do not believe that is correct in the state of California. The marina where you reside reports all the owners to the county. This is how you get an assesment and taxed within the state of Calfornia. It is not from the state registration.
I don't think so, Hugo...
I dunno about CA, but I know for certain that at least other 5 states require state registration and collect property taxes on documented boats. It's not necessary to display state registration numbers on a documented boat in any state, but the states are still gonna get your money.
I dunno about CA, but I know for certain that at least other 5 states require state registration and collect property taxes on documented boats. It's not necessary to display state registration numbers on a documented boat in any state, but the states are still gonna get your money.
Absolutely Wrong
The USCG Documentation center makes very clear that Federal Documentation does NOT exempt you from EITHER State regulations, registration, or taxation. "State" meaning the State of your Documented "home port." Many (not all) States waive any additional State boat registration if your boat is Federally Documented. I don't know of any State that waives the taxation or enforcement of laws, however. There are generally multiple State/Local juristictions to deal with. Here in Massachusetts, you have to pay the one-time 5% Sales Tax to the State Dept. of Revenue, and pay the "home port" Town the annual depreciated-value-based Excise Tax. Also the Town Harbormaster gets the mooring fee. In Massachsetts, if you remain in local waters over 60 days you become liable for local taxes, too. Same type of rule applies to many other States. (A similar rule applies if you sail overseas to a European Union country.) Keep moving on! --Ron
The USCG Documentation center makes very clear that Federal Documentation does NOT exempt you from EITHER State regulations, registration, or taxation. "State" meaning the State of your Documented "home port." Many (not all) States waive any additional State boat registration if your boat is Federally Documented. I don't know of any State that waives the taxation or enforcement of laws, however. There are generally multiple State/Local juristictions to deal with. Here in Massachusetts, you have to pay the one-time 5% Sales Tax to the State Dept. of Revenue, and pay the "home port" Town the annual depreciated-value-based Excise Tax. Also the Town Harbormaster gets the mooring fee. In Massachsetts, if you remain in local waters over 60 days you become liable for local taxes, too. Same type of rule applies to many other States. (A similar rule applies if you sail overseas to a European Union country.) Keep moving on! --Ron
Not true in IL or WI
Documentation doesn't help the tax situation in Illinois or Wisconsin (unfortunately).
Documentation doesn't help the tax situation in Illinois or Wisconsin (unfortunately).
Vessel Property Tax
In Ca. personal property, including vessels, are taxed at the rate of 1% of "fair market value" as of 1 January. According to the State Board of Equalization's "Assessor's Handbook" the county assessor may use records from the DMV, the Coast Guard (for documented vessels), and harbor masters marina reports. They are even authorized the use the CG's website to locate vessels that may be in the county. So it doesn't matter whether a vessel is just registered or is documented, if it is home ported in the county on January 1, the owner is subject to the tax. You can download the entire handbook at www.boe.ca.gov
In Ca. personal property, including vessels, are taxed at the rate of 1% of "fair market value" as of 1 January. According to the State Board of Equalization's "Assessor's Handbook" the county assessor may use records from the DMV, the Coast Guard (for documented vessels), and harbor masters marina reports. They are even authorized the use the CG's website to locate vessels that may be in the county. So it doesn't matter whether a vessel is just registered or is documented, if it is home ported in the county on January 1, the owner is subject to the tax. You can download the entire handbook at www.boe.ca.gov
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