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post #11 of 13 Old 01-27-2009
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Just to be clear on the previous post, the 5% tax is a one time thing. Maryland also gives you credit for any tax paid to another state. For example if you paid 6% to register in NJ and then moved the boat to MD, you would owe no additional tax.

The registration fee is every two years. For a documented boat it is $10. I think Maryland is a boater friendly state.

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post #12 of 13 Old 01-27-2009
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Quote:
Originally Posted by camaraderie View Post
Blowin...yes...you would only owe the 2% difference in that case BUT you are aware that MANY states also have an ANNUAL personal property tax which can be quite expensive as well right?
Its even more confusing than that since in many states personal property tax is assessed by the county where the property is located, so the tax you pay could vary widely even within a State.

Here in VA, I pay PP on my boat to Middlesex county, even though I live in Loudoun County. The tax would be much higher if the boat was in Loudoun County both because they assign a higher value to the boat, and have a higer tax rate. This could be because Loudoun does not have bay waterfront so the boats tend to be less expensive trailerable boats.

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post #13 of 13 Old 01-28-2009
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Personal Property tax in Norfolk

Does anyone know how much the personal property tax in in Norfolk or if there is any?

Boat value $120k
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