Documented houseboats

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Estep
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Documented houseboats

Post by Estep »

Hi all. I am a reporter for the Lexington Herald-leader. I am researching a story on the state tax rate for documented houseboats and would like to talk to some owners to better understand the process and benefits. If any of the system administrators or longtime LC boat owners would like to contact me it would be a great help. My cell is 606-521-9607 and my email is [email protected]. Thanks
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E_
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Marina/Ramp: Currently mostly out of Jamestown but spend a lot of time at the other Marinas.

Pre2012-Conley Bottom Mostly, Waitsboro, Alligator I&II ramps, Leesford, Pulaski County Park (when it has water), Grider, State Dock (via boat), and Jamestown are a few places you might find me.
Location: Kentucky (Lake Cumberland)
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Re: Documented houseboats

Post by E_ »

Its not only houseboats, certain cruisers etc. are also part of it and some cruisers are even worth more than the houseboats. It has been ongoing for years that many license their boat in Ohio where the state tax is non existent basically and then leave them in KY for a free ride on the KY public services like roads, fire, KDFWR, etc.

A couple years ago some of the counties that were hurting from the economic downturn started looking for money and found a quick walk on the docks or check of some storage units netted them some $$$ of tax evaders. Some boat owners even found nice hefty back tax bills in their mailbox.

As to your questions specifically SOME went the route of documenting the houseboat or cruiser and many did so under instruction of others that told them it would get them out of having to pay taxes. As you already know that was incorrect and as the docks began to be surveyed these also "came to the surface". People that thought they were ok (unlike the ones with the OH registration) suddenly found they too had a large tax bill. Now it does REDUCE the tax liability being documented but only by a percentage. Some KNEW it was coming and hoped to fly under the radar. Some still are....

For me I just continue full KY registration and pay my taxes to a county in the lake area to hope they have better services and support.


Hopefully Nearly or one of the old Salts will chime in. :-)
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MarineAssist
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Re: Documented houseboats

Post by MarineAssist »

I can tell you all about the process of US Coast Guard Documentation vs KY state licensing, but as far as the tax rate differences, that would be public record and there is some variation from county to county. Also, the documented vessel is basically in a "self valuation" category, with people being able to advise the local PVA what its value is without too much known pushback. It is also depreciable as well and all the furnishings and accessories are not subject to the taxable value whereas a KY licensed boat is simply taxed on it's NADA book value.
Captain Bob
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Re: Documented houseboats

Post by Captain Bob »

Good that this information is available to be looked into and discussed. There are too many legal loopholes that boat owners are likely to fall into.
kycarguy
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Re: Documented houseboats

Post by kycarguy »

Not sure if anyone knows the answer to this, but are there large differences in the tax rates by marina? I got caught up in this mess a few years ago, I was one of the ones who was told by Somerset Houseboats that if my boat was registered that I did not need to pay the annual property tax. Well, we all know that isn't the case now, and I have long since settled with the state for several years plus penalty and interest. I only discovered this when I sold my boat and somehow it triggered LOTS of taxes. Anyway, I was at Conley and my recollection is that there were some counties that had a significanly lower rate, to the tune of like a tenth, of what I ended up paying. Getting ready to buy again and want to take that into consideration.
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E_
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Joined: Fri Oct 24, 2008 10:26 pm
Marina/Ramp: Currently mostly out of Jamestown but spend a lot of time at the other Marinas.

Pre2012-Conley Bottom Mostly, Waitsboro, Alligator I&II ramps, Leesford, Pulaski County Park (when it has water), Grider, State Dock (via boat), and Jamestown are a few places you might find me.
Location: Kentucky (Lake Cumberland)
Contact:

Re: Documented houseboats

Post by E_ »

Pulaski has been generally lower on boat property taxes over the years. I haven't checked in a couple years.
Buy American, the job you save just might be your own.
Mary Lou 2
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Re: Documented houseboats

Post by Mary Lou 2 »

From what im hearing they still are .
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