Personal property tax assessments on the rise!

Carpediem44DB

Well-Known Member
Aug 18, 2015
3,230
Sanfransico Bay area
Boat Info
2000 Carver 506
2006 44 DB Sedan Bridge
Engines
Volvo TAMD 74 P
Friends of mine that own aircraft are quite annoyed this year. They are opening their county tax invoices for personal property taxes and finding that the county is arbitrarily nearly doubling the taxable value of their planes! It is true that many aircraft models have nearly doubled in market value over the last couple of years but we have never seen the assessors take advantage of it to this extent.
I received the tax bill for my 506. I reported the purchase voluntarily to the assessor at the $270,000 value that I paid for it. I bought it in an LLC so there legally was no sales tax owed but those bastards added what the tax would have been and added it to the value! I got a bill for $3600 for the property tax!
Have you guys seen the tax assessors in your area try to re-assess your boat value due to recent market price increases?
Carpe Diem
 
WA boaters have fought this battle for years. Out here, boaters have always been screwed on the property taxes but airplanes, for example, are assessed at low values so they pay low taxes.

This year that may change though. There are a couple of bills working their way through the legislature that may even things out.
 
here in Kentucky they did raise the personal property tax's on vehicles. i am not certain
about the boats because mine is kept in Ohio.
 
Friends of mine that own aircraft are quite annoyed this year. They are opening their county tax invoices for personal property taxes and finding that the county is arbitrarily nearly doubling the taxable value of their planes! It is true that many aircraft models have nearly doubled in market value over the last couple of years but we have never seen the assessors take advantage of it to this extent.
I received the tax bill for my 506. I reported the purchase voluntarily to the assessor at the $270,000 value that I paid for it. I bought it in an LLC so there legally was no sales tax owed but those bastards added what the tax would have been and added it to the value! I got a bill for $3600 for the property tax!
Have you guys seen the tax assessors in your area try to re-assess your boat value due to recent market price increases?
Carpe Diem
You poor bastards in California …. There is no property tax in Michigan or Ohio on boats…… at least you know your tax money isn’t going to fix the homeless problem
 
As crappy as the State of IL is, we don't get taxed annually on personal property. Only sales taxes when we buy it. Personal property taxes are complete BS imo.

Same here in New York and around 2015, the state capped its sales taxes on boats as part of its just-approved state budget. Now buyers of boats in the state will pay tax on only the first $230,000 of the purchase price — or in my county, 8.625 percent or $19,837.50.
 
Same here in New York and around 2015, the state capped its sales taxes on boats as part of its just-approved state budget. Now buyers of boats in the state will pay tax on only the first $230,000 of the purchase price — or in my county, 8.625 percent or $19,837.50.
As screwed up as NY seems, I don’t think we have it as bad as some states.

Yes property taxes are high but no personal property tax as some here have to deal with. It’s not so bad when you look at the whole picture. My brother in Florida has no state income tax but his homeowners and car insurance are 4x what I pay in NY.
 
Same here in New York and around 2015, the state capped its sales taxes on boats as part of its just-approved state budget. Now buyers of boats in the state will pay tax on only the first $230,000 of the purchase price — or in my county, 8.625 percent or $19,837.50.
That sales tax limit was huge when I bought my boat. Saved me roughly $31k.
 
So, you Ca folks get taxed on the purchase as sales tax, then you pay for annual registration, then get an annual assessment on personal property tax?? And Gavin wants us to move there?
I'm staying right here in Fl. BTW there's nothing to see or do in Florida so no need to move here.
 
As screwed up as NY seems, I don’t think we have it as bad as some states.

Yes property taxes are high but no personal property tax as some here have to deal with. It’s not so bad when you look at the whole picture. My brother in Florida has no state income tax but his homeowners and car insurance are 4x what I pay in NY.
I was shocked when I learned that some states hav annual personal property tax. It came in the form of a tax bill from Beaufort County in SC. I bought my boat there and kept it at the dock for the winter fedora moving it up to NY. The country assessor somehow tracked me down and sent me a tax bill in. NY. I was able to prove it wasn’t actually owed, but it was still came as quite a surprise.
 
In Canada there is no property tax on boats or personal property. Just real estate. And we want to keep it that way so keep this conversation quiet please so that Justin Turtle and his band of thieves don't get any ideas.
 
My boat is in Los Angeles County which loves to tax it’s citizens. I avoided the sales tax with an LLC, but the County set my rate when we got our slip and the assessor determined it resided there. They set the value at approximately 20k higher than I paid for the boat in Sacramento County. I could have contested the valuation, but the process of drafting the appeal and setting and appearing at the hearing wasn’t worth the time and effort for the 2020 tax year. For 2021 there was no change.
I know fellow boaters who avoid the tax by “relocating” their vessels to Baja for the first three months of the year which is when the Assessor’s office allegedly walks the docks and they pay the Baja tax which is nominal. For a 2-3 million dollar boat, that personal property tax bill is hefty.
 
My boat is in Los Angeles County which loves to tax it’s citizens. I avoided the sales tax with an LLC, but the County set my rate when we got our slip and the assessor determined it resided there. They set the value at approximately 20k higher than I paid for the boat in Sacramento County. I could have contested the valuation, but the process of drafting the appeal and setting and appearing at the hearing wasn’t worth the time and effort for the 2020 tax year. For 2021 there was no change.
I know fellow boaters who avoid the tax by “relocating” their vessels to Baja for the first three months of the year which is when the Assessor’s office allegedly walks the docks and they pay the Baja tax which is nominal. For a 2-3 million dollar boat, that personal property tax bill is hefty.
That is crazy….. talk about taking the fun out of it
 
So, you Ca folks get taxed on the purchase as sales tax, then you pay for annual registration, then get an annual assessment on personal property tax?? And Gavin wants us to move there?
I'm staying right here in Fl. BTW there's nothing to see or do in Florida so no need to move here.
Yeah, and they add the sales tax to the actual purchase price to determine the value for assessment. I have never been able to figure out how that is not double taxation which i always understood to be un-constitutional too boot. There is an appeal process but the 1% tax bill on the difference is just not worth the fight. Don't worry Tom, I have been to Florida, nice place to be sure but I'll be headed to the PNW when we pull stakes and probably document the boat in Alaska.
CD
 
That is crazy….. talk about taking the fun out of it
A nice trip to Ensenada is a lot of fun. Best tacos on the planet.
EE1C16C0-8F20-480F-95EB-19C8968E5C4F.jpeg
 
Californian’s with taxable personal property like planes and boats have been know for years to move their asset to Nevada or Oregon prior to January 1st and show evidence that the property was out of Ca on that date to escape the taxes. I can see doing that for high value property but a lot of boogie to save a few grand
 
WV has an annual personal property tax... you can't get tags on your vehicle or boat until you pay it.
 
Virginia has it's much hated annual Personal Property Tax which is on top of the original 6% Sales Tax.

It hits cars, planes and boats. Different VA counties can set their own rates but the key to avoiding it with a boat is not keeping it in Virginia. Virginia can only apply the tax on boats that are garaged or on Virginia water more that 180 days.

The whole property tax thing is just another: Rich people have more toys and need to pay their fair share crap.
 

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