is anyone avoiding paying property tax in va on their boat
10-13-2016, 11:59 AM
#11
21 and 42 footers
Platinum Member
If you think that's bad try living in California and having a boat, documented or otherwise. The state comes after you, doesn't matter what county you're in. The board of equalization wants use tax unless you paid sales tax where ever you purchased the boat. If you can't prove you paid tax they just send you a bill. Then every year you get a unsecured property tax bill to boot. It's up to you to prove your boat isn't in the state if you want to get around the property tax bill. You also have to prove you didn't bring the boat into California if you don't want to pay the use tax to them. Can't be in California over a certain percentage of the calendar year to avoid tax, unless it's in a shop for repairs. Burden of proof is on you, guilty till proven innocent. And if you think you're going to document it and use another hailing port out of California to get around the tax it won't work if your mailing address or drivers license that you use on the coast guard paperwork is California. The coast guard sends that info to the state of California and they automatically send you a bill. They just assume the boat is here and you have to prove that it's not. It gets sticky, every state has laws about this stuff. Same goes for RV's and aircraft here.
Let me get this straight.
In some US States and some counties in those states, you have to pay Property Tax on a "vehicle" which is what a boat and trailer are. Really? Wow, I thought we paid a ton of tax up here in Ontario but at least we only pay it once on the purchase price of the vehicle you are registering.
Thats a crazy system you guys have down there for sure.
In some US States and some counties in those states, you have to pay Property Tax on a "vehicle" which is what a boat and trailer are. Really? Wow, I thought we paid a ton of tax up here in Ontario but at least we only pay it once on the purchase price of the vehicle you are registering.
Thats a crazy system you guys have down there for sure.
Yep
Had a new buddy that I met in Florida after he had moved from Virginia. He had a bunch of cool toys and he got to talking about all the personal property taxes he had to pay on them in Virginia.
I was floored, what is soo great about Virginia that they tax you every year on your toys.
Than again I have been back in the great state of Michigan and hear what people are paying for their house taxes, about 4 times the rate that I pay in Florida.
Had a new buddy that I met in Florida after he had moved from Virginia. He had a bunch of cool toys and he got to talking about all the personal property taxes he had to pay on them in Virginia.
I was floored, what is soo great about Virginia that they tax you every year on your toys.
Than again I have been back in the great state of Michigan and hear what people are paying for their house taxes, about 4 times the rate that I pay in Florida.
Here is Hanover county VA tax rates. These vary from county to county, state to state. Taxes are assessed annually on the "value" the county determines your property is worth. For many years they would assess property well below market value. When the recession hit they started increasing the value of things to more realiztic numbers. In 2007 I had a new dually that actually increased in value the 2nd, and again the 3rd year because they wanted more tax from it.
EX: A house worth $300,000 pays an annual tax of $2,430 to the county. Between my 6 cars/trucks, boat, toyhauler, and 4 jetskis I pay over $5,000 per year for all those items.
Tax Rates:
Real Estate Tax (house, land)
$0.81 per $100 of assessed value
Personal Property Tax (cars, trucks, boats, trailers, RV's)
$3.57 per $100 of assessed value
Business Personal Property Tax
$3.57 per $100 of assessed value
Machinery and Tools Tax
$3.57 per $100 of assessed value
assessed value = 10% of original capitalized cost excluding capitalized interest
Merchants Capital Tax
$1.90 per $100 of assessed value
assessed value = 10% of market value
Aircraft Tax
$0.50 per $100 of assessed value
Contractor's License Tax
$0.10 per $100 of gross receipts
applies only if gross receipts exceed $100,000
10-13-2016, 12:00 PM
#12
VIP Member
VIP Member
Let me get this straight.
In some US States and some counties in those states, you have to pay Property Tax on a "vehicle" which is what a boat and trailer are. Really? Wow, I thought we paid a ton of tax up here in Ontario but at least we only pay it once on the purchase price of the vehicle you are registering.
Thats a crazy system you guys have down there for sure.
In some US States and some counties in those states, you have to pay Property Tax on a "vehicle" which is what a boat and trailer are. Really? Wow, I thought we paid a ton of tax up here in Ontario but at least we only pay it once on the purchase price of the vehicle you are registering.
Thats a crazy system you guys have down there for sure.
My grandma would say it's like cutting of my nose to spite my face, but I would rather pay the premium marina price so they get the money instead of helping line some politician's pockets.
__________________
There are 2 types of people in this world:
1. Those who can extrapolate from incomplete data.
There are 2 types of people in this world:
1. Those who can extrapolate from incomplete data.
10-13-2016, 01:04 PM
#13
There are a few counties in Virginia that do not have Personal Property Tax on Boats, due to their proximity to boatable waters.
Why? Residents of other counties and areas moor and store their boats in these counties which leads to Sales Tax revenues and Business Tax revenues associated with the extra boats registered in those counties.
Why? Residents of other counties and areas moor and store their boats in these counties which leads to Sales Tax revenues and Business Tax revenues associated with the extra boats registered in those counties.
10-13-2016, 01:20 PM
#15
Registered
iTrader: (6)
yeah…and lets not forget that at least for most of us we have a choice of fueling at the marina (and paying marina prices) or fueling at a gas station and paying "road tax" on every gallon of fuel that we're going to put in an off road vehicle…and yes, I've checked with an accountant about documenting usage and applying for the tax back and that's a "no go" here in MI.
My grandma would say it's like cutting of my nose to spite my face, but I would rather pay the premium marina price so they get the money instead of helping line some politician's pockets.
My grandma would say it's like cutting of my nose to spite my face, but I would rather pay the premium marina price so they get the money instead of helping line some politician's pockets.
10-13-2016, 03:04 PM
#16
Registered
A conversation I had with the Swiss gentleman that I took care of and repaired his 2 beachfront houses on Captiva for 10 years enlightened me a bit on how much we pay in taxes.
His 2 houses that he originally had bought for 1.2 million 30 years ago were costing him 200 thousand a year in property taxes now, they were his vacation houses.
I asked him what his taxes were on his spread that I had visited in Switzeerland, he said so little they are not worth mentioning.
I look at the tax base Naples Florida that has with very little homesteads and houses in the 5 million dollar range being the ghetto homes , and cannot figure out what they do with all the money in this tiny town.
Most of it is wasted on administration from what I gather.
His 2 houses that he originally had bought for 1.2 million 30 years ago were costing him 200 thousand a year in property taxes now, they were his vacation houses.
I asked him what his taxes were on his spread that I had visited in Switzeerland, he said so little they are not worth mentioning.
I look at the tax base Naples Florida that has with very little homesteads and houses in the 5 million dollar range being the ghetto homes , and cannot figure out what they do with all the money in this tiny town.
Most of it is wasted on administration from what I gather.
10-13-2016, 03:22 PM
#17
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Location: Ontario Canada
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Let me get this straight.
In some US States and some counties in those states, you have to pay Property Tax on a "vehicle" which is what a boat and trailer are. Really? Wow, I thought we paid a ton of tax up here in Ontario but at least we only pay it once on the purchase price of the vehicle you are registering.
Thats a crazy system you guys have down there for sure.
In some US States and some counties in those states, you have to pay Property Tax on a "vehicle" which is what a boat and trailer are. Really? Wow, I thought we paid a ton of tax up here in Ontario but at least we only pay it once on the purchase price of the vehicle you are registering.
Thats a crazy system you guys have down there for sure.
10-13-2016, 08:41 PM
#20
Registered
Thread Starter
for those that doesn't have to pay this being hit for $1062 for tax on just a boat every year sucks...its crazy.like they don't want you buy or own a recreational boat,camper pwc.I have a friend that has to pay $1700 on just a camper.
