Personal property tax assessments on the rise!

As Creekwood points out, in Canada, no tax on personal property but they have come up with another “make the rich pay” solution. An extra 10% will be tacked on to the sale price of boats, cars, and airplanes (above a threshold) in addition to the 13% HST (harmonized sales tax).
A total of 23% tax on an item!!
Brilliant!!




“When it is implemented on September 1, the luxury tax will be calculated as the lesser of either 20% of the total value of new boats sold for recreational use above the prescribed $250,000 threshold, or 10% of the unit’s full value. Adding insult to injury, the luxury tax will itself be subject to federal sales tax.”
https://boattest.com/article/canada...spite-projected-c21bn-impact-boating-industry

“Jan Willem De Jong, managing director of Neptunus Yachts in St. Catharines, Ont., said he could lose the next year’s worth of work if the tax comes into effect. His team of up to 50 people produces two or three yachts a year priced at more than $4-million each.”
https://www.theglobeandmail.com/bus...ers-brace-for-cancelled-orders-under-liberal/
 
As Creekwood points out, in Canada, no tax on personal property but they have come up with another “make the rich pay” solution. An extra 10% will be tacked on to the sale price of boats, cars, and airplanes (above a threshold) in addition to the 13% HST (harmonized sales tax).
A total of 23% tax on an item!!
Brilliant!!




“When it is implemented on September 1, the luxury tax will be calculated as the lesser of either 20% of the total value of new boats sold for recreational use above the prescribed $250,000 threshold, or 10% of the unit’s full value. Adding insult to injury, the luxury tax will itself be subject to federal sales tax.”
https://boattest.com/article/canada...spite-projected-c21bn-impact-boating-industry

“Jan Willem De Jong, managing director of Neptunus Yachts in St. Catharines, Ont., said he could lose the next year’s worth of work if the tax comes into effect. His team of up to 50 people produces two or three yachts a year priced at more than $4-million each.”
https://www.theglobeandmail.com/bus...ers-brace-for-cancelled-orders-under-liberal/
Yeah, we tried that once and it put a lot of boat builders out of business. Stupid is as stupid does.
 
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.

The county where I slip my boat basically has zero property tax on boats. A few years ago, they attempted to close an education budget shortfall by implementing a tax on boats. We rallied the troops and demonstrated to the politicians that boats are mobile by definition and if they were not wanted in their county, we could take them elsewhere. And the jobs that go with it. They dropped the proposal.
 
As Creekwood points out, in Canada, no tax on personal property but they have come up with another “make the rich pay” solution. An extra 10% will be tacked on to the sale price of boats, cars, and airplanes (above a threshold) in addition to the 13% HST (harmonized sales tax).
A total of 23% tax on an item!!
Brilliant!!




“When it is implemented on September 1, the luxury tax will be calculated as the lesser of either 20% of the total value of new boats sold for recreational use above the prescribed $250,000 threshold, or 10% of the unit’s full value. Adding insult to injury, the luxury tax will itself be subject to federal sales tax.”
https://boattest.com/article/canada...spite-projected-c21bn-impact-boating-industry

“Jan Willem De Jong, managing director of Neptunus Yachts in St. Catharines, Ont., said he could lose the next year’s worth of work if the tax comes into effect. His team of up to 50 people produces two or three yachts a year priced at more than $4-million each.”
https://www.theglobeandmail.com/bus...ers-brace-for-cancelled-orders-under-liberal/

I was in college majoring in Yacht design in 1991 when a federal 10% luxury tax on boats was imposed on boats costing over $100k. It caused me to switch majors, decimated the boat industry and put many builders out of business, especially since the buying public thought it was on all boats, so sales dropped on boats at all price points. Robert T. Healey Sr, the co-founder of Viking Yachts who died last year, took the industry lead in getting the tax repealed less than 2-years later by making many trips to to DC to meet with leaders and demonstrate. He once even had some of his unemployed boat builders set a boat on fire that he put on a barge in Narragansett Bay, RI as a highly effective symbol of protest.
 
I was in college majoring in Yacht design in 1991 when a federal 10% luxury tax on boats was imposed on boats costing over $100k. It caused me to switch majors, decimated the boat industry and put many builders out of business, especially since the buying public thought it was on all boats, so sales dropped on boats at all price points. Robert T. Healey Sr, the co-founder of Viking Yachts who died last year, took the industry lead in getting the tax repealed less than 2-years later by making many trips to to DC to meet with leaders and demonstrate. He once even had some of his unemployed boat builders set a boat on fire that he put on a barge in Narragansett Bay, RI as a highly effective symbol of protest.

Ah, Bill Clinton, the good ole days. Don't forget luxury cars and fur coats. Money goes where money is wanted.
 
WV has an annual personal property tax... you can't get tags on your vehicle or boat until you pay it.
Ours is state mandated but the rate varies from county to county and school district to school district. I can declare the boat in the county I store it or my home county. So which ever rate is lower is where I declare the boat. The county I live in has a statutory requirement to increase assessments of vehicles in accordance with Kelly Blue Book values. In many cases, that would result in the doubling of assessments, and bring in an amount of tax dollars that the assessor is uncomfortable with. They are currently trying to change the statute. We don't typically get our assessments until September.

I avoided over $5,000 in sales tax by having my boat documented. Instead of paying $7,xxx in sales taxes, I paid a flat $1,400 "replacement tax" by having the boat documented.

That said, collecting sales tax up front and personal property tax annually (your personal property never fully depreciates, so you pay tax on it until you dispose of it) is double taxation and should be unconstitutional. But if you want to license your car or register your boat you have to pay it in Missouri.
 
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
Ya but it costs me 70 bucks to fill up the Porsche now. Used to be as low as 30. World is going to hell in a hand basket.
 
I've a friend that lives in Santa Maria Ca and has a second home outside of Reno Nv. She has separate cars and a boat registered in Nevada that are kept there. Ca has gone after her for personal property tax on her cars and boat she keeps in Nv because her home in Ca is her primary residence. I'm not sure where she landed on this issue but she was fighting it....
 
Ah, Bill Clinton, the good ole days. Don't forget luxury cars and fur coats. Money goes where money is wanted.

Ummmm wasn't the president in 1991 George H. W. Bush?
"READ MY LIPS... NO NEW TAXES"... that guy?
 
I've a friend that lives in Santa Maria Ca and has a second home outside of Reno Nv. She has separate cars and a boat registered in Nevada that are kept there. Ca has gone after her for personal property tax on her cars and boat she keeps in Nv because her home in Ca is her primary residence. I'm not sure where she landed on this issue but she was fighting it....
This is a big PITA for folks that try to leave the peoples republic of Ca. Unless you pull stakes completely, they have their hooks in you. Some try to do the spend six months and a day out of state work around but find that the paperwork is just so cumbersome. Add in the incompetence at every tax department involved, most of the state employees don’t even know or care to know how the rules are supposed to work. Prime example is the EDD debacle. They are great at writing checks to ineligible parties and equally good at collecting taxes from law abiding citizens even when the tax payer doesn’t actually owe!
 
Just got my property taxes recently, two homes, 3 pieces of property. Up, up, and away it is. I've watched 'em damn near triple in just a few short years. No kids in public scrools (read "screws), at the end of a gravel cul de sac that may get hit three times a year with a motorgrader. I've been known to take my tractor and box blade to it dueto thier negligence.

Just don't know what I am paying for, as far as services go...don't use 'em.

The last two bills that never go away, property taxes and insurance. Everything else is paid off.

End of rant on this subject. Thank you.
 
It’s a way for southern states to brag their property/ sales taxes are way less than north states. So they just charge you a yearly tax on anything you own. Ever seen all those stickers on windshield of Virginia cars?

It should be the other way around, since the roads up North take a betting and need more maintenance with the snow, ice and freezing rain. Charge the drivers up north the tax to use the roads and lower the property taxes!
 

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