Gwinnett has a "personal property tax"
Originally Posted by
tablesaw
Thanks guys, I think I'm going to see just how much they want and then decide where to file it.
They hounded me until I eventually proved to them that I had depreciated the "property" to a point where it was below their radar. Check with your county to see what their definition is. I mean if Gwinnett County determined I was a collector of guns or other things that they normally could not reach out and tough and it was over the limit (don't remember where that line was drawn) then they can approach me to pay a "personal property tax" on that collection.
Don't quote me on this but I think its the boat registration at the state level triggers the county to know you have something worth something and they are then compelled to tax you one it.
More info:
According to the Gwinnett County Assessor’s Office website they will accept Personal Property Tax Returns from January 1 to April 1. If you own a business with furniture, fixtures, machinery, equipment, and/or inventory, an airplane, or a boat and/or motor, you must file a return. You are responsible for reporting all taxable personal property or penalties will be assessed. We mail Personal Property Tax Return forms as a courtesy, but not receiving one does not relieve your responsibility for filing a return.
Now no value is set for "personal" property but under Business Personal Property it defines it as "Personal property valued at $7,500 or less is automatically exempt from ad valorem taxes. The property, however must be returned, valued, and entered on the tax digest. Owners of personal property with a value of less than $7,500 receive no bill."
So there may be a gray area worth checking into. This says I should report my boat every year, which I have not since I convinced them it was worth less than the $7,500 fair market value.
Last edited by Fish2DMax; 01-20-2015 at 03:59 PM.
Reason: more info
Have a Great Day,
Jerry A