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BoatWiki - Definitions

Definition

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Personal property tax as it applies to boats can be defined as an assessment against the belongings of an individual other than real estate. This is typically levied by the county in which a person or entity resides. It is usually imposed yearly based on the depreciated value of such items. As with most taxes, the applicability of this tax and respective rates will vary among jurisdictions. Personal property taxes are unrelated to excise, sales, and use taxes.

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Credits and References

2/23/2022 - Page initiated by Team BoatWiki.

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