| Pages:
1
2
3
4
5
6 |
HoosierRetired
Junior Member
Posts: 3
Registered: 1-16-2012
Member Is Offline
Mood: No Mood
|
|
Web bought our boat in late 2005 and were told by the broker and the bank no ppt if doc and several of our friends were told the same from another
bank on their boat. now in indiana after a sale you sign disclosure to be sent to taxation dept for ppt and i understand ky has a disclosure
on taxes. If anybody knows please pass it on because I need to to know how many hard earned people were told the same
|
|
|
WaterWings
Super Administrator
Posts: 8232
Registered: 2-3-2006
Location: Lexington KY (CB)
Member Is Offline
Mood: Flyin High
|
|
HoosierRetired I don't think anyone believes this is a fair and equitable tax, including KY boat owners. BUT I still believe that "documenting" your
boat is cheaper than "registering" your boat especially a houseboat or larger boat. At one time there was a huge advantage to
"documenting" since you paid nothing but a $25.00 per year renewal with the Coast Guard but as mentioned previously local gooberments (sic) caught on
and its been a mess ever since.
The savings varies depending upon the county but it all boils down to the taxable value. With "registration" your going with the full sale price
(although you can argue for lower). With "documentation" your going with a lesser value (that you determine not the PVA) since as mentioned previously
you only count the boat not the accessories, furnishings, appliances, etc. The rates for "documenting" are a little lower also I think but its
minuscule.
We had a guy on our pier who custom built a new houseboat last year. The builder never told him to go one way or the other. He had originally
registered it but before he got the stickers on several people on the dock told him he needed to look at the difference between "registering" and
"documenting". After careful consideration he went with "documenting". 
Ohhh by the way this particular boat owner is actually in charge of collecting taxes for a certain KY county.
WHATEVER floats your boat Dude!
|
|
|
WaterWings
Super Administrator
Posts: 8232
Registered: 2-3-2006
Location: Lexington KY (CB)
Member Is Offline
Mood: Flyin High
|
|
By the way, as Xburnside mentioned above, the form the KY Dept of Revenue is currently reminding people about (due May 15th) is form 62A500W. Again
they only want the form now, not the tax.
Here is a link from the Jefferson County PVA office to everything you always wanted to know about proprety taxes in KY but were afraid to ask.
Also included on page 18 is the form in question... 62A500W for Documented Boats.
http://jeffersonpva.ky.gov/forms/2012_Personal_Property_Tax....
PS: On page 17 is the same form for aircraft! 
WHATEVER floats your boat Dude!
|
|
|
MarineAssist
Master Member
Posts: 4305
Registered: 11-13-2005
Location: Jamestown, KY.
Member Is Offline
Mood: Tow, tow, tow your boat....
|
|
Anymore, Coast Guard Documentation is generally required on boats over 35' in length and over $100,000 in value that have been financed with a marine
lender. The reason is because the "Ship's Mortgage" filed with the federal government is deemed more secure than a title lien or UCC filing.
If you finance through a local bank, you may not run in to this.
Federal Documentation costs about $125 to do the first time, but there are no yearly renewal fees.
As for being able to name your own value.... you may find that if your particular houseboat is listed in one of the three major price guides, the PVA
will take the value from there, regardless of what you think, just as they do with vehicles. Each PVA office is a little different in the way things
are handled.
And... one more time.... the original thread is dealing with what the county is considering "un-documented boats". Their term of un-documented simply
means boats which they have no record of at the local PVA office regardless of whether they are state registered or Coast Guard Documented.
I really wish they would have picked another term to use. Something like un-recorded boats. It just goes to show the county does not really
understand fully the entire process.
I will also say again that all this talk about possible enforcement is smoke and mirrors. The law is so flawed there will not be anything done about
it until the law is re-written or scrapped altogether. It is impossible to enforce the way it is.
I don't know why they are calling it a property tax or ad valorem, whatever that is. It is basically a "use tax" for using KY waters and services.
I had never heard of such a thing before I moved here and was actually pretty surprised when I figured it out, as I own 7 boats, 3 trucks and personal
vehicles as well. My birthday is a bad time of year for more than one reason!
Basically, if you want to do what is "right" to stay in line with the current law....
If you use or store your boat in a KY county for more than 60 days per year, you are supposed to pay "Use tax [property tax]" on it in that county.
This means you are supposed to put the county of primary use on the application when you apply for KY title (or have th county tax office change it
for you after the fact) and/or you are supposed to use a "port of call" of Lake Cumberland, KY or whatever body of water you are boating on for Coast
Guard Documentation purposes and then pay tax to the PVA by May each year on documented boats.
This is IF you want to do it and stay within the guidelines of the current law.
|
|
|
|
|
xburnside
Master Member
Posts: 2062
Registered: 12-21-2007
Location: EastCincy+Conley
Member Is Offline
Mood: Readin+listenin, cuz I might learn sumthin
|
|
| Quote: | Originally posted by WaterWings
...At one time there was a huge advantage to "documenting" since you paid nothing but a $25.00 per year renewal with the Coast Guard...
|
I've had documented hboat since 1993 and never paid $25/year. I usually get a renewal notice in June or July and get new document back in a couple
weeks ~
dam glad it floats our boats
|
|
|
laker53
Master Member
Posts: 720
Registered: 1-9-2008
Member Is Offline
Mood: No Mood
|
|
ad valorem is Latin for---according to value.
|
|
|
WaterWings
Super Administrator
Posts: 8232
Registered: 2-3-2006
Location: Lexington KY (CB)
Member Is Offline
Mood: Flyin High
|
|
| Quote: | Originally posted by xburnside
| Quote: | Originally posted by WaterWings
...At one time there was a huge advantage to "documenting" since you paid nothing but a $25.00 per year renewal with the Coast Guard...
|
I've had documented hboat since 1993 and never paid $25/year. I usually get a renewal notice in June or July and get new document back in a couple
weeks ~
|
Your correct!
I actually have my renewal notice in hand and thought I read there was a fee somewhere on it but upon closer inspection it says A LATE FEE if accepted
30 days past expiration.
I stand corrected!
WHATEVER floats your boat Dude!
|
|
|
denmarkshepherds
Master Member
Posts: 3417
Registered: 7-18-2007
Location: Russell Co., Lake Cumberland USA
Member Is Offline
Mood: We dont give a (Wolf Creek) DAM how you did it up north
|
|
Russell Co Fiscal Court meeting last night the court learned the Ky Revenue Cabn. person(s) had been in Russell Co the last 2 weeks checking out
documented boat at marinas and in storage. News story said Revenue Cab. was gonna start enforcing tax laws.
Listen to news story here live at 4:05 pm (central) this evening..
http://www.streamaudio.com/player/player.aspx?optin=no&stati...
This house still protected by GOD, guns, and German Shepherds...
'round here we speak AMERICAN!
|
|
|
Pop-O_826
Master Member
Posts: 1247
Registered: 12-12-2002
Member Is Offline
Mood: IF YOU CAN\'T RUN WITH THE BIG CAT, STAY IN THE BIRD CAGE
|
|
If this gets followed thru with, I venture to say we will hear some serious moaning and groaning when those tax bills arrive with back interest and
penalties on top of the value they will set on these boats.
WILDCAT PROUD BASKETBALL- DOING IT BETTER THAN ANYONE FOR OVER 60 YEARS
|
|
|
Captain Bob
Moderator Emeritus
Posts: 8559
Registered: 6-18-2002
Location: Always close by
Member Is Offline
Mood: Retired.. but active.
|
|
Sorry, but I have to repeat myself here...
It is not unheard of, if you get a bill for back taxes, late fees and penalties that IF you call the Revenue Cabinet AND
you talk to them nicely (they hear complaints all day), it is possible that they will reduce or remove the late fee or penalty.
..just saying.
Based on personal experience but not a guarantee.
|
|
|
Pop-O_826
Master Member
Posts: 1247
Registered: 12-12-2002
Member Is Offline
Mood: IF YOU CAN\'T RUN WITH THE BIG CAT, STAY IN THE BIRD CAGE
|
|
I can see that happening 4-5 years ago because everyone was told by county clerks, boat dealers, banks etc that there was no tax on documented boats.
That can't be an excuse now. Well let me say shouldn't be an excuse.
If the penalty is forgiven the past due interest will not be.
WILDCAT PROUD BASKETBALL- DOING IT BETTER THAN ANYONE FOR OVER 60 YEARS
|
|
|
denmarkshepherds
Master Member
Posts: 3417
Registered: 7-18-2007
Location: Russell Co., Lake Cumberland USA
Member Is Offline
Mood: We dont give a (Wolf Creek) DAM how you did it up north
|
|
In a nutshell, the State Revenue Cabinet has begun enforcement of the law on some Northern and Western Ky lakes. 184 documented boats have been
discovered in Russell Co so far being valued at $21.5 million. This wont just be Russell Co., the state will begin enforcement.
This house still protected by GOD, guns, and German Shepherds...
'round here we speak AMERICAN!
|
|
|
WaterWings
Super Administrator
Posts: 8232
Registered: 2-3-2006
Location: Lexington KY (CB)
Member Is Offline
Mood: Flyin High
|
|
| Quote: | Originally posted by denmarkshepherds
In a nutshell, the State Revenue Cabinet has begun enforcement of the law on some Northern and Western Ky lakes. 184 documented boats have been
discovered in Russell Co so far being valued at $21.5 million. This wont just be Russell Co., the state will begin enforcement.
|
WOW! Gonna be some bad news in the ol mailbox for some in a few weeks. Well if they had been reading LC.com they would have known this was coming.
Just sayin!
184 documented boats have been discovered in Russell Co so far being valued at $21.5 million. This wont just be Russell Co., the state will
begin enforcement.
PS: Denmark thanks for the post.... but 3:09 AM??? Get some sleep man.
Added: I assume that State Dock, Jamestown Marina and Cave Springs Marina are all in Russell County. Is Alligator II also in Russell or not?
WHATEVER floats your boat Dude!
|
|
|
Pop-O_826
Master Member
Posts: 1247
Registered: 12-12-2002
Member Is Offline
Mood: IF YOU CAN\'T RUN WITH THE BIG CAT, STAY IN THE BIRD CAGE
|
|
Gator II is in Russell County. Would that be 184 that are not paying their taxes.? For sure there are more documented boats in Russell County than
184.
WILDCAT PROUD BASKETBALL- DOING IT BETTER THAN ANYONE FOR OVER 60 YEARS
|
|
|
lake4fun
Master Member
Posts: 1373
Registered: 8-25-2004
Location: Crescent Springs, KY (SD & WCM)
Member Is Offline
Mood: ;-)
|
|
The larger problem is that Russell and Wayne counties are at odds with Pulaski and Clinton's tax policies. While the Pulaski and Clinton counties
eliminate or drastically reduce the school tax part of the county tax, the Russell and Wayne county school tax is fully included -- which is something
like 75% of the tax. If Russell and Wayne would follow the same stance of Pulaski and Clinton counties, they would have far better compliance. So
those that are out of state and live in other areas of KY are paying for MORE than the cost of the county to have boaters in the area. This is what I
consider the unfair part of the tax. Having a boat on Lake Cumberland does really not raise the cost of education in those counties. So when you
drive by the big auditorium on US 127 in Jamestown, just know you are helping pay for that nice new facility.
|
|
|
lake4fun
Master Member
Posts: 1373
Registered: 8-25-2004
Location: Crescent Springs, KY (SD & WCM)
Member Is Offline
Mood: ;-)
|
|
| Quote: | Originally posted by Pop-O_826
Gator II is in Russell County. Would that be 184 that are not paying their taxes.? For sure there are more documented boats in Russell County than
184. |
This means that they've more than doubled the number of boats that will be paying taxes this year.
|
|
|
raptorlvr
Master Member
Posts: 1571
Registered: 1-18-2005
Location: Jamestown, KY (JRM & SD)
Member Is Offline
Mood: The lake us up!
|
|
| Quote: | Originally posted by WaterWings
| Quote: | Originally posted by denmarkshepherds
In a nutshell, the State Revenue Cabinet has begun enforcement of the law on some Northern and Western Ky lakes. 184 documented boats have been
discovered in Russell Co so far being valued at $21.5 million. This wont just be Russell Co., the state will begin enforcement.
|
WOW! Gonna be some bad news in the ol mailbox for some in a few weeks. Well if they had been reading LC.com they would have known this was coming.
Just sayin!
184 documented boats have been discovered in Russell Co so far being valued at $21.5 million. This wont just be Russell Co., the state will
begin enforcement.
PS: Denmark thanks for the post.... but 3:09 AM??? Get some sleep man.
Added: I assume that State Dock, Jamestown Marina and Cave Springs Marina are all in Russell County. Is Alligator II also in Russell or not?
|
I know habits are hard to break...But, please remember that Cave Springs Marina is now Wolf Creek Marina. 
Sorry about the hijack...
Added:
Doooh! Very SORRY Deb! I'm juggling about 10 things at once here and that's the first thing that popped in my little brain.
Sorry!
“Nobody can hurt me without my permission.”
Mahatma Gandhi quote
|
|
|
NautiNuff
Master Member
Posts: 1113
Registered: 1-1-2005
Location: Monticello, KY (CB)
Member Is Offline
Mood: Speed Changing Me
|
|
Let me tell you how it will be, it's one for you nineteen for me.
|
|
|
Watt Money
Master Member
Posts: 2092
Registered: 8-14-2002
Location: Col. OH (CB)
Member Is Offline
Mood: World record holder with 1650 other boaters
|
|
"cause I'm the tax man, and you're working for no one but me" oobie ou
We never really grow up; we only learn how to act in public.
|
|
|
Gasman
Senior Member
Posts: 184
Registered: 10-23-2006
Location: Avon, In & State Dock 200 Row
Member Is Offline
Mood: Rollin with the Flow
|
|
Just sold my camper to a guy in Missouri. He told me Documented Boats there pay a flat $1000.00 in property taxes.
|
|
|
wildwest
Member
Posts: 56
Registered: 11-8-2005
Location: Louisville Ky.
Member Is Offline
Mood: What goes on at the lake stays at the lake
|
|
with gas going to hit 5.00 gal what is the gooberment thinking . there is less and less people each year that can afford to go to the lake if this
sh**********t keeps up soon there will be no one comming to the lake region. then where will they get there money . raise taxes on locals . i dont
think so . we are lot of their revenue as it is
just my thoughts
Drink harty says the BIG FAT LAKE RAT
|
|
|
denmarkshepherds
Master Member
Posts: 3417
Registered: 7-18-2007
Location: Russell Co., Lake Cumberland USA
Member Is Offline
Mood: We dont give a (Wolf Creek) DAM how you did it up north
|
|
| Quote: | Originally posted by raptorlvr
| Quote: | Originally posted by WaterWings
| Quote: | Originally posted by denmarkshepherds
In a nutshell, the State Revenue Cabinet has begun enforcement of the law on some Northern and Western Ky lakes. 184 documented boats have been
discovered in Russell Co so far being valued at $21.5 million. This wont just be Russell Co., the state will begin enforcement.
|
WOW! Gonna be some bad news in the ol mailbox for some in a few weeks. Well if they had been reading LC.com they would have known this was coming.
Just sayin!
184 documented boats have been discovered in Russell Co so far being valued at $21.5 million. This wont just be Russell Co., the state will
begin enforcement.
PS: Denmark thanks for the post.... but 3:09 AM??? Get some sleep man.
Added: I assume that State Dock, Jamestown Marina and Cave Springs Marina are all in Russell County. Is Alligator II also in Russell or not?
|
I know habits are hard to break...But, please remember that Cave Springs Marina is now Wolf Creek Marina.
Sorry about the hijack...
Added:
Doooh! Very SORRY Deb! I'm juggling about 10 things at once here and that's the first thing that popped in my little brain.
Sorry! |
Yea what she said...and
its in CENTRAL time zone 
This house still protected by GOD, guns, and German Shepherds...
'round here we speak AMERICAN!
|
|
|
WaterWings
Super Administrator
Posts: 8232
Registered: 2-3-2006
Location: Lexington KY (CB)
Member Is Offline
Mood: Flyin High
|
|
| Quote: | Originally posted by denmarkshepherds
| Quote: | Originally posted by raptorlvr
| Quote: | Originally posted by WaterWings
| Quote: | Originally posted by denmarkshepherds
In a nutshell, the State Revenue Cabinet has begun enforcement of the law on some Northern and Western Ky lakes. 184 documented boats have been
discovered in Russell Co so far being valued at $21.5 million. This wont just be Russell Co., the state will begin enforcement.
|
WOW! Gonna be some bad news in the ol mailbox for some in a few weeks. Well if they had been reading LC.com they would have known this was coming.
Just sayin!
184 documented boats have been discovered in Russell Co so far being valued at $21.5 million. This wont just be Russell Co., the state will
begin enforcement.
PS: Denmark thanks for the post.... but 3:09 AM??? Get some sleep man.
Added: I assume that State Dock, Jamestown Marina and Cave Springs Marina are all in Russell County. Is Alligator II also in Russell or not?
|
I know habits are hard to break...But, please remember that Cave Springs Marina is now Wolf Creek Marina.
Sorry about the hijack...
Added:
Doooh! Very SORRY Deb! I'm juggling about 10 things at once here and that's the first thing that popped in my little brain.
Sorry! |
Yea what she said...and
its in CENTRAL time zone |
Central time zone...I thought time stood still in Russell County.
Now in Wayne County the dang clocks are absolutely correct..but the calendars are off by 40 years. 
(Joking - no need for anyone to get their panties in a wad.)
WHATEVER floats your boat Dude!
|
|
|
raptorlvr
Master Member
Posts: 1571
Registered: 1-18-2005
Location: Jamestown, KY (JRM & SD)
Member Is Offline
Mood: The lake us up!
|
|
| Quote: | Originally posted by WaterWings
| Quote: | Originally posted by denmarkshepherds
| Quote: | Originally posted by raptorlvr
| Quote: | Originally posted by WaterWings
| Quote: | Originally posted by denmarkshepherds
In a nutshell, the State Revenue Cabinet has begun enforcement of the law on some Northern and Western Ky lakes. 184 documented boats have been
discovered in Russell Co so far being valued at $21.5 million. This wont just be Russell Co., the state will begin enforcement.
|
WOW! Gonna be some bad news in the ol mailbox for some in a few weeks. Well if they had been reading LC.com they would have known this was coming.
Just sayin!
184 documented boats have been discovered in Russell Co so far being valued at $21.5 million. This wont just be Russell Co., the state will
begin enforcement.
PS: Denmark thanks for the post.... but 3:09 AM??? Get some sleep man.
Added: I assume that State Dock, Jamestown Marina and Cave Springs Marina are all in Russell County. Is Alligator II also in Russell or not?
|
I know habits are hard to break...But, please remember that Cave Springs Marina is now Wolf Creek Marina.
Sorry about the hijack...
Added:
Doooh! Very SORRY Deb! I'm juggling about 10 things at once here and that's the first thing that popped in my little brain.
Sorry! |
Yea what she said...and
its in CENTRAL time zone |
Central time zone...I thought time stood still in Russell County.
Now in Wayne County the dang clocks are absolutely correct..but the calendars are off by 40 years.
(Joking - no need for anyone to get their panties in a wad.) |
Another hijack here (hope I don't get in trouble...) Per Nancy Harden, Wolf Creek Marina Mgr., they stay on Eastern Time even though they are located
in the Central Time Zone. Their reasoning is that most of their customers live in the Eastern Time Zones so they stay on "Fast Time".
“Nobody can hurt me without my permission.”
Mahatma Gandhi quote
|
|
|
WaterWings
Super Administrator
Posts: 8232
Registered: 2-3-2006
Location: Lexington KY (CB)
Member Is Offline
Mood: Flyin High
|
|
I have a request for a newsworthy post? Please help if you can!
In the online edition of Feb 16th Jamestown/Russell Springs Times Journal Newspaper front page news has a story entitled "Boat Tax out of
Court's Hands".
Go here: http://www.russellcountynewspapers.com/v2/content.aspx?ID=35...
I think this pertains to the property taxes on documented houseboats. I can't open it because you now have to be a subscriber to view online editions.
(Not so in the past but I can understand their thinking on this.)
If someone, a subscriber, could cut and paste here the important parts of that article I think a lot of members would like to read it. I will make
sure we give the paper the proper credits.
Thanks!
WHATEVER floats your boat Dude!
|
|
|
| Pages:
1
2
3
4
5
6 |
![[*]](images/xpsilver/default_icon.gif){kind=icon}
