Crallscars

I have moved from Florida to Georgia and have to re-register my fleet.

Is there an advantage to having a boat "Documented" verses the annual state registration?

Do you pay property tax on a "Documented" boat?

Doug

anewway

iTrader: (1)

One thing I learned when buying a documented boat is that not all lenders understand the boat not having a "title" when its documented. Especially true of smaller credit unions that don't do a lot of boat loans.

They eventually figure it out, but it takes them longer to get it all squared away.


Its kinda funny though, since a registered boat is actually a more securely documented vessel, and should actually qualify for a better rate, but like I said, smaller lenders just don't have a lot of experience with them.


So something to consider if you go to sell it.

BDiggity

I still have to pay prop tax on mine which is documented. But i would think it is state specific.

Crallscars

I just read something on requirements, and it said the craft had to be 5 tons or greater....is that right.

My SS weighs about 6000 or so pounds wet.

seafordguy

If it is registered now, just save yourself the trouble and re-register it, versus transfering it to a documented vessel.

Yes, you have to pay PP taxes on it (if they catch on to you). My county caught up to me after about 2 years.

That 5 tons is a net tonnage figure. There is a calculation you have to do that is available on the Coast Guard website.

Your locality might just have you send in an estimate of the value and you could put whatever you want down and pay taxes on THAT....