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Catalina/Capri 25/250 Sailor's Forums

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Personal Property Tax

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Frank Hopper
Past Commodore

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Pitcairn Island
6776 Posts

Initially Posted - 02/04/2007 : 11:42:04

States have different ways of doing this; here in Kansas you pay a stand alone personal property tax on boats. I just paid $427 for '06 on my 89 with trailer and motor. Doesn't that seem like a lot? They value at 30% of market value which they put at about $10.5k.
Does this seem to be in line with what others pay?

Edited by - Frank Hopper on 02/04/2007 11:42:41

existentialsailor
Master Marine Consultant

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USA
1180 Posts

Response Posted - 02/04/2007 : 12:12:49

Sure seems like a lot to me, but of course we have no such taxes in NH. You have to pay this tax every year? Incredible!

Edited by - on

DaveR
Master Marine Consultant

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USA
2015 Posts

Response Posted - 02/04/2007 : 12:19:28

Wow Frank,
They're really hitting you in Kansas! In Florida You pay at least 6% sales tax when you initially Register your new boat but each following year you only have to renew your registration which is <b>[Class 1 (vessels 16 to 25 feet in length): $22.25]</b> for a C-25. Here's the complete list of charges versus size;
Fees for Titling and Registering a Boat in Florida

* Class A-1 (vessels less than 12 feet in length, and motorized canoes): $7.25

* Class A-2 (vessels 12 to 15 feet in length): $14.25

* Class 1 (vessels 16 to 25 feet in length): $22.25

* Class 2 (vessels 26 to 39 feet in length): $54.25

* Class 3 (vessels 40 to 64 feet in length): $86.25

* Class 4 (vessels 65 to 109 feet in length): $102.25

* Class 5 (vessels 110 or more in length): $126.25

The above fees include various state-mandated charges. Some counties impose additional surcharges, so contact your local office to know the exact fee required.

I'd say we've got it good here:) Cheers and Happy Superbowl Sunday!!

Edited by - DaveR on 02/04/2007 12:20:12

Gene DeMambro
1st Mate

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33 Posts

Response Posted - 02/04/2007 : 15:10:01

Hi Frank,

In 2006 I paid $53 excise tax for my 1989 WK/SR with motor. I do not own a trailer. This rate is set by the Commonwealth of Mass. I don't know the rate they use, but I paid $5400 for my boat in 2005. I do not own a trailer and have no idea what they would tax that as. I paid 5% sales tax when first registering.

I also paid $100 ($4 per foot) to the Town of Weymouth for a mooring permit. This rate is set by the town and each town is different.

I paid $303 in excise taxes on my 2004 Seibring Convertible last year, for comparison.

Cheers,
Gene

Edited by - on

OLarryR
Master Marine Consultant

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USA
3440 Posts

Response Posted - 02/04/2007 : 16:41:24

In the Potomac River area near Washington, DC, we have those living in DC, Virginia and Maryland. I am not sure about Maryland but if you own a boat in Virginia and you keep the boat at home or in a marina that is in Virginia waters (which for the Potomac River would mean South of the Wilson Bridge), then most will be paying a VA Personal Property Tax which I believe is about $3-$4/$100 of the cost of the boat (and maybe the motor and trailor as well).

But ! If you live in Virginia and your boat is kept North of the Wilson Bridge, then it is generally considered in DC waters (except for perhaps the small area around Alexandria, VA). Having it in Wash DC waters means no personal propery tax other than a $25 annual fee for the registration sticker.

Edited by - on

ClamBeach
Master Marine Consultant

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3072 Posts

Response Posted - 02/04/2007 : 18:34:10

>I just paid $427

Wow... that seems high. Somewhere on your tax bill you should have an 'assessed value' and a 'tax rate'. Assessed value times rate = your bill. You either have a very high rate... or they are putting a high value on your boat

Here in (Northern Calif) yearly property tax is about 1% of assessed value. So tax on a hull/engine valued at $4,500 is about $45 per year. The trailer is considered a 'motor vehicle' and is not subject to property tax.

When a boat is sold, the buyer pays sales tax (7.25%) if they take delivery in California or bring the boat into California before 6 months have passed. That's why a lot of 'big' boat sales take place 'offshore' in Ensenada Mexico. The buyer 'parks' the boat down there untill the tax liability period has passed. For a $250K boat, that saves a substantial chunk of change.

Edited by - on

Gloss
Master Marine Consultant

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USA
1916 Posts

Response Posted - 02/04/2007 : 19:03:20

Thomas Jefferson said: "The power to tax is the power to destroy".

You are getting crushed Frank

Edited by - on

dlucier
Master Marine Consultant

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Virgin Islands (United Kingdom)
7583 Posts

Response Posted - 02/04/2007 : 19:23:22

Ouch!..Your $427.00 would cover about 11 years of registration fees here in Michigan.

Does the taxman in Kansas wear a mask?

Edited by - on

Champipple
Master Marine Consultant

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USA
6855 Posts

Response Posted - 02/04/2007 : 21:57:20

We pay about 50 buck for registration every 3 years. Tax on the sale payed to the title bureau.

You are getting hosed. (IMHO)

Edited by - on

crcalhoon
Captain

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USA
303 Posts

Response Posted - 02/04/2007 : 22:05:58

We have a personal property tax here in Arkansas, too, but if it is that much I may take up knitting. I've got to find my bill to see what it is.

Edited by - on

Derek Crawford
Master Marine Consultant

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USA
3321 Posts

Response Posted - 02/04/2007 : 23:14:38

No personal property tax in Texas (just for businesses).
We pay a one-time 6% on the sale price of boat/motor/trailer and then $40 license fee every 2 years.
Sure glad I don't live in KS...

Edited by - on

bear_tm4
Navigator

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USA
143 Posts

Response Posted - 02/04/2007 : 23:32:53

well Mac, its those tax hungry people there..they are like that on all kinds of things...there...one thing being military saved me from..its pricey thats for sure....they called me right after I moved...and wanted my money to...but played my military card..and fact had move out that fine state, and the let me off, I think it must be a tax on the wind....having surplus of it. Let see Up in Manhattan we would say its because Nebraska sucks, and Oklahoma blows... no insult intended to our fine friends in the north or south...just passing on some sentiment from folks there that I know...lol...and think most of that has something to do with sports...GO CATS,
Cheers gang..

Edited by - on

bear_tm4
Navigator

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USA
143 Posts

Response Posted - 02/04/2007 : 23:34:42

OH, let me add one thing to my last post. I Love Kansas, not some of there laws, lol. If I didnt want to be by ocean someday for sailing I would retire there. Well cheers

Edited by - on

Brooke Willson
Admiral

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USA
983 Posts

Response Posted - 02/05/2007 : 06:06:52

Larry, the entire Potomac, except that off the DC shore, belongs to Maryland. What makes a boat a Virginia boat isn't the water it sits in, but what dock it's tied to. Many years ago the pier in Colonial Beach, VA, had a gap so that the Casino at the end of the pier could be in Maryland, which permitted gambling, instead of Virginia, which didn't.

Also, property taxes are levied by the county or city, not the state.

Brooke

Edited by - on

Frank Hopper
Past Commodore

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Pitcairn Island
6776 Posts

Response Posted - 02/05/2007 : 06:46:59

The rate is county local, the method is state. I am moving the "location of record" from the lake to my house and it will save me over $100 next year. We also pay personal property tax on our cars every year when we renew our tags. My 97 Park Avenue was $90 and my 2000 Mountaineer was $120 last June, the actual tag renewal was an additional $30 on top of that. Our sales tax in Wichita is 7.3%

Edited by - on

britinusa
Web Editor

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USA
5404 Posts

Response Posted - 02/05/2007 : 07:09:42

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote">$100, $120 7.3%<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

Wow! dread to think what it would cost for a brand new C250 up there towed by a new F150!

The F150 tag renewal here is about $77, the boat $27, sales tax 6%.

I'm guessing the rates here are partly due to the support that BoatUS et. al. lobby for the boating industry.

Perhaps you get really cheap fuel up there Frank, it's currently $2.19 regular here. (Down over a $1.00 per gallon from 2 years ago.)

Paul

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aeckhart
Master Marine Consultant

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USA
1709 Posts

Response Posted - 02/05/2007 : 09:21:55

Frank,

You may want to check with your insurance company to see what they have valued your boat for insurance purposes. My company, USAA, does it by region. I just checked mine and they've place a $14,000 replacement value on the boat, which means my 88 is probably over insured for my region, Michigan-Wisconsin-Minnisota. Since they are located in Texas, they are probably using insured values from the Texas-Louisianna area.

On the other hand, $10,000 seems about right for an 89. It may be worth while to check with some dealers in the Kansas-Nebraska-Colorado area.

Edited by - on

dlucier
Master Marine Consultant

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Virgin Islands (United Kingdom)
7583 Posts

Response Posted - 02/05/2007 : 09:44:44

Frank,

Gather your fellow overtaxed sailors together and start dumping some tea in the harbor.

Edited by - on

suttergold
1st Mate

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USA
49 Posts

Response Posted - 02/05/2007 : 10:27:25

In California your boat is assessed by the county auditor. You pay an annual property tax assesment of 1% of the value of your boat. How they determine the value I have no idea. When you purchase the boat and register it with the California Department of Motor Vehicles you have to pay sales tax (6-7% depending on which county you live in)along with fee's to register it.

Edited by - on

Nautiduck
Master Marine Consultant

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USA
3704 Posts

Response Posted - 02/05/2007 : 11:13:49

In Oregon we don't pay any sales tax or any personal property tax. Gee, I feel like I'm not paying my fair share.

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OLarryR
Master Marine Consultant

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USA
3440 Posts

Response Posted - 02/05/2007 : 11:31:41

Brooke,

Agree - Along the Potomac it is where the marina is located except for the area north of of the Wilson bridge which is then considered all DC. The only exception perhaps is the town marina at Alexandria, VA. I believe they go by the Alexandria property tax. I did not go into detail enough in my posting because there are definitely some VA counties/townships that have a rate less than the $3-$4/$100 per boat cost I listed. Some have a property tax that is only $.01/$100 boat cost.

In my case, I live in Fairfax County, VA but keep my boat docked at a DC marina. When I first registered, I had to show proof of a boat safety course which i could have done but decided to take the free course they offered and then it's a $25 registration fee each year to get the annual decal.

Larry

Edited by - on

John Russell
Master Marine Consultant

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USA
3444 Posts

Response Posted - 02/05/2007 : 16:53:10

Al,

Just found out that USAA doesn't insure boats. They act as an agent for Progressive. They just insured my 250.

Edited by - on

Captain Bill
Navigator

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USA
148 Posts

Response Posted - 02/05/2007 : 17:52:48

$66.00 County property tax. Trailer not included.

Several years ago those rascal revenooers came to the marina on January 1 and took inventory. Later those who had not listed properly were notified and penalized for late listing. Don't ask how I know this!

Happy sailing,

Bill

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aeckhart
Master Marine Consultant

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USA
1709 Posts

Response Posted - 02/06/2007 : 09:12:59

John,

OK, saves me the effort of switching to Progressive. I've felt my insurance was a little high. I'm going to check Boat US.

The principle still applies though. Unless you specify the value of the vessel to be insured, they will select one from your region, corect or not. USAA/Progressive asks in their renewal notice to verify locally the value of my boat to insure I'm paying the correct amount...........more or less.

Edited by - on

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