Boat Owners in South Carolina pay 10.5% in taxes EACH YEAR?

[Nightmare]

Boats, Motors and Watercraft Property Tax | Dorchester County, SC website

Does that apply to 'Recreational' Boats too? Because that seems crazy.

I haven't paid a full year on our boat in California, but I think it is going to be just a couple hundred dollars.

 

[Seadeals]

In SC you pay an ad valorem tax annually for cars and boats. You don’t take the hit when you buy new; but for those who like keeping new vehicles, it really adds up. I have spent lots on upgrades to my 2011 F-150 and 2006 SX-210…all financed (in concept) by avoidance for what I would pay ten-fold by buying new.

 

[Elliott]

I do not know the specifics of SC tax calculation. However, I would guess that it is fairly close to GA (neighboring states often try to not create an incentive to register in the bordering state); for example, I cannot imagine that SC would have any marinas on Lake Hartwell (in both states) if there was much difference.

In GA, I paid a little over $200 in tax last year, and it drops some every year.

 

[jlcj7]

I live in SC. For my 2019 jet ski I paid just under $500 in taxes. For my 2020 pontoon I paid $1700.

 

[Nightmare]

I live in SC. For my 2019 jet ski I paid just under $500 in taxes. For my 2020 pontoon I paid $1700.

And that is annual fee? Not just ‘sales tax’?

 

[jocolo21]

Revister it in south dakota, 3% tax, people with rv airplanes and expensive toy do that

 

[jlcj7]

And that is annual fee? Not just ‘sales tax’?

Correct.

It goes down about 10-20% a year but still crazy to be taxes every year on something I own at that level

 

[Bluewater272]

"But the real estate taxes are low"

Every states tax man will get ya, they just have different strategies.

 

[AuburnVFR]

Wow those annual taxes are crazy...luckily we only have to pony up a chunk of change upon purchase here.

Alabama- 2% state + 1-2% local sales tax upon purchase, then only a $25 annual registration for boats 16-26 ft.

 

[blacksapphirez]

I sent mine into PA... no tax(out of state)

we'll see

 

[Jim_in_Delaware]

"But the real estate taxes are low"

Every states tax man will get ya, they just have different strategies.

This is so true.

When we were deciding where to retire, one of our consideration was taxes. I ended up putting a spreadsheet together for state income tax (on our estimated income) + real estate tax (for our home) + personal property tax (planned cars, boat, rv) + sales tax I expected to pay in a year. Looking at a summary of all expected taxes was quite interesting. For example, I looked at a couple of different spots in Florida, and while there is no state income tax, there is a moderate state sales tax and real estate taxes can be higher that I expected (depending on where in the state one lived).

Hawaii is an interesting case, no income tax, no personal property tax, relatively low real estate and sales taxes. Lowest taxes of all the places we were interested in retiring, but the highest cost of real estate.

Getting back to boating, in Delaware there is no sales or personal property tax on a boat, and registration is $60 a year. Pay 4.25% document tax (sales tax) on the trailer and $40 a year registration.

Jim

 

[Elliott]

This is so true.

When we were deciding where to retire, one of our consideration was taxes. I ended up putting a spreadsheet together for state income tax (on our estimated income) + real estate tax (for our home) + personal property tax (planned cars, boat, rv) + sales tax I expected to pay in a year. Looking at a summary of all expected taxes was quite interesting. For example, I looked at a couple of different spots in Florida, and while there is no state income tax, there is a moderate state sales tax and real estate taxes can be higher that I expected (depending on where in the state one lived).

Hawaii is an interesting case, no income tax, no personal property tax, relatively low real estate and sales taxes. Lowest taxes of all the places we were interested in retiring, but the highest cost of real estate.

Getting back to boating, in Delaware there is no sales or personal property tax on a boat, and registration is $60 a year. Pay 4.25% document tax (sales tax) on the trailer and $40 a year registration.

Jim

You must have mis-read some things about Hawaii. It has always had a high income tax; we lived there 1991-1995. Now, it is the highest in the nation. If you have some types of a government pension that might not be taxed, but any private pension or any type of 401K (private or government) will be taxed.

https://www.usnews.com/news/best-states/hawaii/articles/2021-03-09/hawaii-senate-approves-nations-highest-income-tax-rate

 

[Jim_in_Delaware]

Apologies, on the Hawaii note. It has been about two years since I looked into the taxes. My own personal income taxes would have been zero as my wife and my federal pensions and our social security payments wouldn't be taxed.

Jim

 

[captras]

I do not know the specifics of SC tax calculation. However, I would guess that it is fairly close to GA (neighboring states often try to not create an incentive to register in the bordering state); for example, I cannot imagine that SC would have any marinas on Lake Hartwell (in both states) if there was much difference.

In GA, I paid a little over $200 in tax last year, and it drops some every year.

Glad we dont have that in Texas