Friends of Three Sheets Northwest

Adding a new topic (2 posts)

  • Profile picture of Marty McOmber Marty McOmber said 4 years ago:

    New chance to talk.

  • Profile picture of Jack Tar Jack Tar said 3 years, 4 months ago:

    Excise tax : Watercraft Excise Tax
    The watercraft excise tax generally applies to all registered
    boats that are 16 feet or longer or equipped with a
    motor capacity of more than 10 horsepower. Excise tax
    is calculated at one-half of one percent of the boat’s ((((fair
    market value.))))

    The Department of Revenue may review
    the declared value.

    Cite as 3 WTD 121 (1987)
    … amendment of RCW 84.08.200 the Department of Revenue is solely responsible for
    certifying the “equalized” value of all ships and vessels, including “Floating … … wtd121.doc – 2009-05-19

    BOAT TAX: RCW 84.08.200 — RCW 84.40.065 — EQUALIZED VALUES — TRUE AND FAIR VALUE — PERSONAL PROPERTY TAX. The Department of Revenue assesses all ships and vessels subject to property taxation (boat tax) and certifies to the county assessors the equalized values thereof (RCW 84.08.200 recodified in 1986 to RCW 84.40.065). In arriving at the “equalized values,” the Department uses “true and fair value” computed from a depreciation schedule based on comparative sales in prior years and applied to the year of purchase and purchase price of the vessel being assessed.

    I have written the assessors office and asked how to file for a re assessment on a vessel.
    Does anyone else have information on this issue. I am aware of the effort to create equal or fair value compared to other personal property.