Property Taxes on Boats

[mgswake]

Anyone here live in South Carolina? I just received my tax bill in the mail. $9830 for the year. Its going to cost me $50,000 to own this boat for 5 years. That seems insane to me. Anyone else live in a state that charges property tax on boats? It is 10% of fair market value.

I dont mind paying taxes, but this seems a bit unreasonable to me.

[larry_arizona]

If I had to pay property tax on a boat I can’t live on, there is no way I would own a boat.

Never heard of that on a wakeboat.


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[HFarr]

That does sound a bit outlandish!

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[MJHSupra]

Have a buddy from SC, he told me about that crazy tax. Only state I ever heard about for boats.

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[mgswake]

The fair market value for tax purposes was 180,000. I told them "write me the check here are the keys". They did drop the tax down to $8200 after I showed them the bill of sale that was a bit less than the 180,000 number. But still, going to be hard to justify giving away that much money a year.

Going to have a long discussion with the wife tonight to figure out our plan.

[eder10986]

We pay property taxes up here in NC as well. I wouldn’t even think of owning a boat at that rate bro!
I’ll have to look at my tax bill for the rate but I paid about $650 this year. Not $6,500…. $650


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[eder10986]

The fair market value for tax purposes was 180,000. I told them "write me the check here are the keys". They did drop the tax down to $8200 after I showed them the bill of sale that was a bit less than the 180,000 number. But still, going to be hard to justify giving away that much money a year.

Going to have a long discussion with the wife tonight to figure out our plan.

I mean…..register is in NC and use it in SC and hope you don’t get stopped. If you do just say you’re there for the weekend or something…hope to not get caught again

But that’s wild.


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[zabooda]

Washington has an excise tax but I don't think it is very much. Go to another state especially if you have an address you can work from. You have to figure the ins and outs of doing that like the insurance and trailer plating.

[mjb929rr]

That’s crazy!
Colorado is a $70 fee for the boat and trailer registration is $125 per year.
Maybe need to register it at a buddy’s house in a different state if possible

[996scott]

That is insane! I don't know that i would pay that kind of tax each year. That really sucks.