is anyone avoiding paying property tax in va on their boat
10-13-2016, 08:54 PM
#21
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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, 10:56 PM
#22
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Location: Northern, KY (Cincinnati) Lake St Clair, MI Norris Lake, TN
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KY has personal property tax on vehicles as well. Roughly 1% of NADA per year + other fees. Cost SWIM $832 for his 2015 Yukon Denali license plate sticker this year.
Boat titled and registered in Ohio. He happily paid their sales tax and $65 fee for a 3 yr registration sticker. Ohio River bordering states makes it a "murky" legality in SWIM's opinion. Boat stored and used in Ohio. By Ohio law, any boat used in their waters for more than 90 days has to be registered there.
Had SWIM titled it in KY, he'd pay roughly $900 per year for that sticker in personal property tax + 6% sales tax. Can't CG document a pontoon boat.
Prior to owning a tooner he documented his boat and used his parent's Ohio address for Coast Guard renewal and paid ZERO sales or property tax, plus no registration fees (The Donald Way)
On the bright side....housing property taxes are cheap in KY. Which hole do you want it in??
Every state is different. Some don't title trailers, but require plates. Some do titles, but no plates. Makes it a bit*h when selling out of state. It would be nice if everyone played the same way, then the idiots at all the BMVs would know how to register a boat and trailer.
Boat titled and registered in Ohio. He happily paid their sales tax and $65 fee for a 3 yr registration sticker. Ohio River bordering states makes it a "murky" legality in SWIM's opinion. Boat stored and used in Ohio. By Ohio law, any boat used in their waters for more than 90 days has to be registered there.
Had SWIM titled it in KY, he'd pay roughly $900 per year for that sticker in personal property tax + 6% sales tax. Can't CG document a pontoon boat.
Prior to owning a tooner he documented his boat and used his parent's Ohio address for Coast Guard renewal and paid ZERO sales or property tax, plus no registration fees (The Donald Way)
On the bright side....housing property taxes are cheap in KY. Which hole do you want it in??
Every state is different. Some don't title trailers, but require plates. Some do titles, but no plates. Makes it a bit*h when selling out of state. It would be nice if everyone played the same way, then the idiots at all the BMVs would know how to register a boat and trailer.
Last edited by Baja_342; 10-13-2016 at 11:22 PM.
10-14-2016, 08:03 AM
#23
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This is crazy, I live in MN and I thought we had obsured taxes(land of 10,000 taxes) but we don't have boat property taxes.
Guess I can go home for the day I learned something and its only 8:03.
Guess I can go home for the day I learned something and its only 8:03.
10-14-2016, 12:27 PM
#24
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Location: Greensboro,NC
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I did not list my boat on my personal property taxes here in north carolina for 3 years. When i renewed my registration they found it. I had to pay back the taxes for the 3 years i did not pay. I pay around $300 a year in nc for my 2001 fastech 271 . Jeff wurl
10-15-2016, 02:02 AM
#27
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10-15-2016, 10:11 AM
#28
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KY has personal property tax on vehicles as well. Roughly 1% of NADA per year + other fees. Cost SWIM $832 for his 2015 Yukon Denali license plate sticker this year.
Boat titled and registered in Ohio. He happily paid their sales tax and $65 fee for a 3 yr registration sticker. Ohio River bordering states makes it a "murky" legality in SWIM's opinion. Boat stored and used in Ohio. By Ohio law, any boat used in their waters for more than 90 days has to be registered there.
Had SWIM titled it in KY, he'd pay roughly $900 per year for that sticker in personal property tax + 6% sales tax. Can't CG document a pontoon boat.
Prior to owning a tooner he documented his boat and used his parent's Ohio address for Coast Guard renewal and paid ZERO sales or property tax, plus no registration fees (The Donald Way)
On the bright side....housing property taxes are cheap in KY. Which hole do you want it in??
Every state is different. Some don't title trailers, but require plates. Some do titles, but no plates. Makes it a bit*h when selling out of state. It would be nice if everyone played the same way, then the idiots at all the BMVs would know how to register a boat and trailer.
Boat titled and registered in Ohio. He happily paid their sales tax and $65 fee for a 3 yr registration sticker. Ohio River bordering states makes it a "murky" legality in SWIM's opinion. Boat stored and used in Ohio. By Ohio law, any boat used in their waters for more than 90 days has to be registered there.
Had SWIM titled it in KY, he'd pay roughly $900 per year for that sticker in personal property tax + 6% sales tax. Can't CG document a pontoon boat.
Prior to owning a tooner he documented his boat and used his parent's Ohio address for Coast Guard renewal and paid ZERO sales or property tax, plus no registration fees (The Donald Way)
On the bright side....housing property taxes are cheap in KY. Which hole do you want it in??
Every state is different. Some don't title trailers, but require plates. Some do titles, but no plates. Makes it a bit*h when selling out of state. It would be nice if everyone played the same way, then the idiots at all the BMVs would know how to register a boat and trailer.
They have been going back and catching people that have used that trick and getting them to pay the use tax (same % as sales tax).
10-17-2016, 07:12 AM
#30
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In Ohio this is 100% correct, the state will let you rack up late fees and penalties for a few years and then one day you receive a letter with amount due. You have to prove with a state receipt that taxes were paid on the boat purchase, in Ohio taxes apply to standard or documented registration. There is no freebie in Ohio, this applies to boats brought in from another state and bought in Ohio.
