Boat and Watercraft Information
Boats are taxable and are appraised annually at current market value as of January 1. Values are determined by reviewing purchase prices, sales of comparable boats and other market data. Information on their location and ownership is obtained from the Department of Motor Vehicles, the United States Coast Guard, marina listings and on-site inspections.
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Boat/Watercraft Property Tax Questions and Answers
Boats are eligible for the inventory exemption if they are not out on rent on January 1.
Yes. The Assessor needs to know:
- the date it was sold
- who purchased the boat.
This is to ensure the correct owner is assessed for the correct year.
The Assessor uses various approaches to arrive at the value, including the purchase price of the vessel/watercraft, improvements or upgrades that have been made to it, and the recent sales of comparable vessels in the open market.
Yes. The lien on ownership and the responsibility for the taxes are established on January 1 for the following tax year beginning July 1.
Yes. Only boats and airplanes owned and held in inventory for sale by a licensed dealer are exempt from property taxes.
Yes. The law does not differentiate between vessels registered with the DMV and those documented with the Coast Guard.
Property taxes for boats are not collected through the registration fee like vehicles. Though it may seem like you are being double taxed, that is not the case.
If, in a divorce proceeding, a spouse was given sole title to the boat prior to 12:01 a.m. on January 1 (lien date), then that spouse alone would be liable for the tax bill created for that lien date. If title passed to your spouse after January 1, the bill would be issued to the owner or owners of record as of that date and, if you were both owners, the Assessor could not remove your name. If your spouse was awarded the vessel prior to January 1, but the bill was issued in both your names, you need to provide the Assessor's Boat Section with copies of the court documents that ordered the transfer of title to your spouse.
If the vessel/watercraft is registered to you in Ventura County and the registration does not specify that it is docked in another county, then Ventura County will assess it. If your boat is habitually docked in another county, we will cancel the assessment and also notify the county in which your vessel is located.
Liability for vessel property taxes attaches to its owner as of 12:01 a.m. on January 1 each year (lien date). The bill for the coming tax year is then issued to the owner of record at that time, and that individual is liable for the taxes even if the boat was sold soon after that date. The Assessor does not prorate the assessments.
Aircraft Information
Aircraft are taxable and are appraised annually at current market value as of January 1. Values are determined by reviewing purchase prices, sales of comparable aircraft and other market data. Information on their location and ownership is obtained from the State Board of Equalization, Federal Aviation Administration, airport listings, and on-site inspections.
Aircraft of Historical Significance
This exemption is available to aircraft meeting the following criteria:
- The aircraft must be an original, a restoration, or a replica of a heavier-than-air-powered-aircraft that is 35 years or older or any aircraft of a type or model of which there are fewer than five in number known to exist worldwide.
- The aircraft must be owned by an individual rather than a corporation or other legal entity.
- The aircraft is not held primarily for sale, and not used for commercial purposes or general transportation
- The aircraft must be available for display to the public at least 12 days during the 12 month period immediately preceding the lien date. Documentation must be provided that the aircraft was displayed in such a manner that the general public was aware that they were invited for public viewing and reasonable accommodations were provided to allow for that.
A certificate of attendance from the event coordinator of each event at which the aircraft was displayed must be submitted with the exemption claim form by February 15th. Claims filed February 16 – August 1 will receive a partial exemption for that year. There is a $35 non-refundable application fee.
