Join Date: May 2002
Thanked 9 Times in 8 Posts
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Re: Previous owner wants property tax credit?
I can't get over the fact that you have to pay annual taxes just to own a boat. I've owned boats in Louisiana for almost 20 years now and only paid sales tax on a new boat once, and every 4 years registration. I think people would be up in arms in the streets, er, bayous, if they tried that here.
Every state divides up the tax burden differently. Here in the great state of Connecticut, we have very low income taxes. In fact, we had no income tax at all until about twenty five years ago. Towns and cities were basically on their own to fund schools, police, fire and snow removal (a very big budget item here) as they got little assistance from the state. The way they made up for it was to assess taxes on the real and personal property of their citizens. So we pay high annual taxes to our town or city of residence based on the value of our real property, as well on our vehicles. In a bid to increase revenue a couple of years ago, the towns had asked the legislature to allow them to also begin taxing boats and PWCs. That was defeated (with the help of BOATUS). I know that some states have chosen a different balance of the tax burden, choosing to have higher state taxes and lower local taxes; some states (like NY, Mass. and Calif.) just have all-around high taxes, while others have all-around low taxes. IMHO, one thing is universally true: while adjusting for the ever-present government inefficiencies, it all comes out in the wash. States with lower tax burdens get less in the way of government services. I do not offer an opinion if that is good or bad, just that I think its true. We get what we pay for.