Post by Chad F on Oct 24, 2012 12:01:18 GMT -6
There is an amendment to the KS state constitution coming up next month related to tax rates on watercraft in which many of us should be interested. The KDWP and other agencies are realizing that many residents are registering their watercraft in other states to avoid paying Kansas’ higher than average tax rates for watercraft (they estimate over 4,500 boats owned by KS residents are registered in Oklahoma alone). The state agencies realize that they are losing revenue when people register their boats out of state, so they are pushing this amendment which will allow new legislation to tax watercraft at rate similar to or lower than the surrounding states. Bringing those out of state registrations back into KS will generate more revenue for the state, while boat owners like us will pay lower property taxes. Our current tax rate is 30% of the vessel’s value multiplied by the mill levy rate for your county of residence – that is high regardless of which county you live in.
Remember, this is an amendment to the state constitution and by itself will not change the tax rate you pay, but legally allows new legislation to be passed that will lower the actual tax rate (the state went through this same process in 1992 to change the tax rate for RVs being registered out of state – that process took about 2 years before the new lower tax rates took effect). A vote for this proposition would permit the legislature to provide for separate classification and taxation of watercraft, while a vote against would keep the property tax rate the same. A copy of the full amendment can be found here:
www.jocoelection.org/Archives/Questions/Q-ConstitutionalAmendment-11-2012.htm
I know that many of us complain about the property tax rates on our boats (Wyandotte County folks especially seem to get dinged on personnel property taxes), but on election day you will have a chance to do your part to change that.
CF
Remember, this is an amendment to the state constitution and by itself will not change the tax rate you pay, but legally allows new legislation to be passed that will lower the actual tax rate (the state went through this same process in 1992 to change the tax rate for RVs being registered out of state – that process took about 2 years before the new lower tax rates took effect). A vote for this proposition would permit the legislature to provide for separate classification and taxation of watercraft, while a vote against would keep the property tax rate the same. A copy of the full amendment can be found here:
www.jocoelection.org/Archives/Questions/Q-ConstitutionalAmendment-11-2012.htm
I know that many of us complain about the property tax rates on our boats (Wyandotte County folks especially seem to get dinged on personnel property taxes), but on election day you will have a chance to do your part to change that.
CF