Note: Many vessel owners will see an increase in their 2022 property tax valuations.
The valuation factors calculated by the State Board of Equalization and provided to California County Assessors through LTA 2022/003 indicate an increase in 2022 values between 20-24% depending on the type of vessel.
The State Board of Equalization reviews average retail sale prices for new and used powerboats, sailboats, and personal watercraft annually to develop the valuation factors. Per their research, these vessels have experienced large appreciation in value compared to 2021.
If you would like to discuss your assessed value after reviewing LTA 2022/003, please contact our office at 916-875-0740 or ASR-Marine@saccounty.gov.
The California Constitution (Section XIII, Article 1) provides that all tangible property is taxable unless it is otherwise exempted by the Constitution or by the legislature. Household personal property was exempted in the 1950's, but privately-owned boats are still subject to property tax.
California Department of Motor Vehicle (DMV) records are the primary source of information utilized by the Assessor in determining ownership and location of boats and watercraft. Documented vessels, which are registered with the U.S. Coast Guard rather than DMV that are principally based within the county, are also subject to assessment.
