Boats/Vessels

Boat Crop Tahoe Aerial-024

  1. Description
  2. FreQuently asked questions
  3. Forms & Resources

Vessel Property Statement

This is a requirement of section 441(d) of the California Revenue and Taxation Code. Statements are sent in order to gather the most up to date information on the property so that an accurate value can be determined.

If requested by the Assessor's Office or if the value of your vessel is $100,000 or more, you are required to file a Vessel Property Statement (PDF). If a statement is not returned, an estimated assessment will be made using the best information available, and a 10% penalty on the assessed value will be added for failure to file as mandated by the California Revenue and Taxation Code section 46.

Valuation

Value is determined by reviewing the Vessel Property Statement, current market data, confirmed sales of similar vessels, and value guides such as NADA.  For the purpose of California property taxation, vessels are valued at their fair market value each and every year as of the January 1 lien date. Values determined for previous years cannot be used as a factor in determining the current year’s value. Values can increase as well as decrease from year to year because of fluctuations in the market. Vessels, unlike real property, are not subject to a base year value or a minimum inflationary factor. The fair market value of a vessel on lien date is unrelated to its net book value (purchase price less depreciation).

Sale of a Vessel

Buyer
Prospective vessel owners should ensure that they may obtain clear title to the vessel they intend to purchase. You may not be able to register your vessel with the DMV until any unpaid tax bills are satisfied and a tax clearance certificate is obtained from the Treasurer-Tax Collector’s office and included with the vessel registration. Current owners must also keep their tax payments current to ensure continuous registration.
Seller
File a release of liability with the California Department of Motor Vehicles, and notify the Assessor’s Office in writing with information regarding the sale. Please complete and return a Vessel Affidavit (PDF) to the Placer County Assessor's Office.


 Taxes on Moorings and Boat Slips - 
Private use of public property is taxable under certain conditions. If you rent or lease a mooring or boat slip from a city or the county, you may receive a property tax assessment. You may receive a property tax assessment if:

  • You are using facilities owned by a government agency (city, county, state, school district, etc.)
  • Your right to use government-owned property is independent, durable and exclusive
  • You are not a government agency