N E W S R E L E A S E
Date: June 8, 2012
FOR IMMEDIATE RELEASE
Ann Davis, Treasurer
757- 253-6705; email@example.com
Changes made to JCC boat tax rates
All James City County boat owners will see a decrease in their personal property taxes, beginning with the taxes billed for 2012.
The Board of Supervisors reduced the personal property tax rate for boats registered in the County. Boats or watercraft weighing five tons or more will be assessed at $1 per $100 of assessed value. Owners of boats weighing less than five tons will pay $3.50 per $100 of assessed value. Prior to the change, boat owners paid $4 per $100 of assessed value regardless of the weight.
A citizen committee appointed by the Board of Supervisors to study the impact of changes to personal property taxes on boats found that some large boat owners who live in the County keep their boats at marinas in other cities and counties to avoid a large tax bill. The change in the tax rate for large boats will help the County compete with other localities to bring these boats back to marinas in James City County and boost marina businesses.
Boat owners will begin to see the reductions in future tax bills and may be eligible for either a credit or tax refund for taxes already paid this year. If the taxpayer paid for the first half only, due June 5, the difference will be applied to December’s personal property tax billings. If the taxpayer paid for a full year any overpayment amount under $20 will be credited to the next personal property billing and any overpayment amount over $20 will be refunded to the taxpayer.