Property Taxes on Boats

[Holdmybeer]

Look up Lexington County in SC. I couldn't believe the OP tax bill either.

2023 SL is not a cheap boat but 10.5% then 6% of that isn't a horrible number. The millage in that county is crazy. I think school tax adds $6k to the bill....ouch!

LLC in Delaware and have the business own the boat. 180 days would be April-September.

[DOCDRS]

Tax on a 200,000 boat works out to about 3200 depending on location in sc as per the sc tax calculator. Still abhorrent as you also pay vehicular tax and state tax. I figure with all these I may actually be paying less tax in Canada. Still trying to figure out if my lawnmower would be taxed ?????? Or if I would get a green rebate as it is electric????

[mgswake]

DOCDRS, actually it is county dependent as the millage rate varies. Some counties are higher than others. My county valued my boat at 180,000 and the tax was 9800.

[DOCDRS]

DOCDRS, actually it is county dependent as the millage rate varies. Some counties are higher than others. My county valued my boat at 180,000 and the tax was 9800.

I was using this county, your county mil rate seems more than 3x this ones.
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[MJHSupra]

I was just re-reading the first post, dang, 10k is a big ticket for that once a year payment.

Folks in TN would flip their lids.

[Mxmark4]

Agreed. I am already bitter paying sales tax on a used item as it is. 10k a year would mean I am finding a new hobby. That would decimate my fuel budget for the year.

[zabooda]

You really need to find another state to register it in. Out west, many used Idaho as they will mail the registration to you. Obviously, finding a state near you would make more sense. Just have to keep a low profile.

[mgswake]

I tend to not have the best luck at times. My understanding is you could register and title in another state, but the boat should be used primarily (>50%) in the state it is titled/registered. Chances of someone doing something are low, but you may face fines, penalties, and/or interest if not using in the primary state and somehow you get reported or possibly stopped by dnr. That’s my understanding.

[mgswake]

I was just re-reading the first post, dang, 10k is a big ticket for that once a year payment.

Folks in TN would flip their lids.

Lucky for me, I took them the bill of sale and they reduced the tax bill to $8200

[smitty75]

Lived in SC for 16 years, now in NC. Sales tax is capped at $500 regardless of the boat price which is nice, but then you definitely pay it back in annual property taxes.

See if your dealer will give you an appraisal on it, they will usually accept it and base your taxes on the appraisal. Saved a lot of money that way on camper and boat taxes.


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