Not taxing luxury boats makes no sense

The governor has recently proposed tax reduction legislation by eliminating the local property tax on motor vehicles valued at less than $28,500. Understandably, this has resulted in an outcry from local officials because of the loss of significant local tax income without a proposed source of replacement income. Perhaps the governor, in parallel, should also propose imposing a local or state property tax on personal watercraft valued at more than, let's say $28,500, or longer than 30 feet?

I have never understood the rationale in imposing a property tax on motor vehicles, which in most cases are a necessity, and not imposing a property tax on watercraft, which in most cases are a luxury. Many yacht owners use their boats as summer vacations or as weekend homes docked at a marina. They are not taxed, yet their counterparts on land who have a vacation home, a motor home, or a camper are taxed. Am I the only one who sees the unfairness in this, and a long overlooked source for additional tax revenues?

Hide Comments

READER COMMENTS

Loading comments...
Hide Comments