Tax rate

Does anyone know what the unsecured property tax rate is for Alameda?

I believe a boat is considered either "personal" or "unsecured" property.

Is this a different tax rate? I used all of my Googling skills and came up empty.

Thanks,
Mike

California and I suspect all state's property tax is a bit complicated. That is because there is both the direct mil rate and the value that the jurisdiction puts on the boat.

We bought a new Mainship 34T in 2006 and paid about 0.5% of market value for personal property tax. That is lower than the mil rate because California values boats at less than market. We docked our boat in Long Beach but I doubt that property tax rates vary much by city/county.

The same was true of a used boat we bought and kept in San Diego.

So if you are looking for a budget figure, use 0.5% of current market value.

David

djmarchand said:

California and I suspect all state's property tax is a bit complicated. That is because there is both the direct mil rate and the value that the jurisdiction puts on the boat.

We bought a new Mainship 34T in 2006 and paid about 0.5% of market value for personal property tax. That is lower than the mil rate because California values boats at less than market. We docked our boat in Long Beach but I doubt that property tax rates vary much by city/county.

The same was true of a used boat we bought and kept in San Diego.

So if you are looking for a budget figure, use 0.5% of current market value.

David

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Hmm.. the guy I just spoke to on the phone said the rate is between 1 - 1.5% of assessed value.

The initial assessment they gave me is significantly higher than market, as in around $150,000 over!

I think this is covered by Prop 13, max of 1% of assessed value increasing a max of 2%/yr. However counties have found a way around that, with special assessments and such like that they claim are not under Prop 13. The 1 - 1.5% is about right, I was paying a little more than 1% when I kept a boat in Alameda.

The assessed value is allowed to increase only 1 percent a year unless there is a transfer of ownership. Boats, however, depreciate, and the assessed value is decreased over time. The nominal tax rate is 1 percent of assessed value, but then there are bonds, special-district charges (such as BART) which vary by location which increase the effective rate. ... Contact the assessor's office and ask for the rate applicable to the boat's location. Tax rate for boats is the same as for land homes.

MichaelB1969 said:

Hmm.. the guy I just spoke to on the phone said the rate is between 1 - 1.5% of assessed value.

The initial assessment they gave me is significantly higher than market, as in around $150,000 over!

Click to expand...

No wonder so many California boats are for sale.

markpierce said:

The assessed value is allowed to increase only 1 percent a year unless there is a transfer of ownership.

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Under Prop 13, assessed value is allowed to increase 2% a year. Max tax rate is (theoretically) 1% of assessed value.

My boat lives in Alameda, so I have an exact answer for you. My 2017 "Unsecured Property Tax Statement" charged me 1.1593% of the "full valuation." They assigned a full valuation which was slightly higher than the actual price I paid (and reported to the state) when I bought the boat in 2016. I don't know how they reached that valuation. If I really disagreed with it, there is an appeal process. I believe that each county can set a different rate, but I am not really sure about that. I DO know that each county in California charges a slightly different sales tax, and Alameda at (as I recall) charges 9.75%. Other nearby counties may be around 9% or maybe even the high 8%s.

Actually, I like this quote from Oliver Wendell Holmes...."I don't mind paying taxes. Wiith them a purchase civilization."

Here's to light winds and flat water.
Oldersalt

DDW said:

Under Prop 13, assessed value is allowed to increase 2% a year. Max tax rate is (theoretically) 1% of assessed value.

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You're correct. Regardless, taxes in California are very high. While property tax rates aren't high, assessed valuations are high for properties purchased in recent years.. Median home prices are between one-half and two million dollars here. Talking 1600-foot square homes, not mansions.

https://www.investopedia.com/walkth...property-taxes/california-property-tax-guide/

Websites on property taxes can be misleading.

https://smartasset.com/taxes/california-property-tax-calculator

While this website says property taxes in Contra Costa County are under one percent, my actual taxes for my home in Martinez, CC County is 1.49% of assessed value. My boat in Vallejo, Solano County is taxed at 1.15%.

Consider one percent a myth.

In addition, need to pay property taxes on my rented, municipally-owned berth. A recent tax-raising scheme here.

Two percent annual increase. That's higher than my supposed cost-of-living-indexed pension.

Of course they don't HAVE to raise it 2% a year. That's just the limit. On a boat it may actually be worth appealing the appraised value, since the value is really going down every year .

I'm familiar with paying taxes in California, as I've been doing it for all of my 6 odd decades. The rate above 1% is the weaseling of the local jurisdictions with their special districts and fees and such. Not too hard for them to get up to 1.5% or so. On sales tax, the sky's the limit, and some of the counties are reaching for the sky.

The basis of taxation is the cost of government services. Why are those services so much more costly than locals out side of California ?

This discussion makes me glad to live in South Dakota. I might be a million miles from big open water, but no property tax on boats. Ahh.

HiDHo said:

The basis of taxation is the cost of government services. Why are those services so much more costly than locals out side of California ?

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Same reason a house that cost $250,000 where I live, cost $750,000 in San Diego. People who think it's a better house because it cost more.

Comparing tax rates across states is difficult to do fairly, because there are so many variables. If you look at the total state per capita budget, California is near the low end of the 50 states. Alabama and South Dakota are both much higher than California. Some states have low local taxes but are huge consumers of federal largess. California is a net contributor to the feds (send more than they get back). Also there are major differences in how much government service is provided by the state vs. local jurisdictions. Some attempt to track total tax burden, one such attempt is here. That shows California as #10.

We just went through an appeal of our boats assessment by Sacramento County. They were actually very helpful, and responsive. The rate you pay will vary on the boats location because of added tax from local bonds etc. Ours was about 1%. After the initial assessed value boats are depreciated at 8% per year according to the state assessors manual. Hope its true but haven’t recieved our tax bill after our successful appeal last year

As mentioned above, the state tax is 1% of the value and then the cities/counties add whatever they decide is right. Not all of it is a straight percentage, so the total varies slightly (as a percentage) depending on the value of the boat/property.

The limits on increases apply more to real estate, since boat values typically go down, not up. The tax assessments (and bills) for my boats have declined slightly each year. I have found the assessor’s to be reasonable about correcting inaccurate assessments, by the way.

We pay more taxes in California than most do in other locations, but it’s not so much that I would seriously consider living somewhere else.