[Public-list] Property Tax Value

[JOHN GRAVES]

George,

Thanks. In looking at the different approaches for appraising personal property I ran across the Basic Cost approach which based on the original cost new multiplied by a factor obtained from an IRS table that is grouped by Asset Classes and gives a Class Life. For a vessel the class life is 18 years. After 18 years the factor is 0.20. The next problem is how to determine the original price. I found an original old brochure in my boat file. I don't know if it is from 1965 but it lists the base price excluding sails, F.O.B. Ajax, Ontario with U.S. duty included, and includes an optional equipment price list. This base price is $13,490. When the optional equipment that was included in my boat is added it comes to 936.45 + $13,490 = 14,425.45. This price multiplied by the age factor is: 14425.45 X .20 = $2885.29. Of course this is just for tax purposes and I'm sure there are other things to consider in using this approach. Anyone familiar with this or other appraisal approaches?

John

  ----- Original Message ----- 
  From: George Dinwiddie<mailto:gdinwiddie at alberg30.org> 
  To: Alberg 30 Public List -- open to all<mailto:public-list at alberg30.org> 
  Sent: Tuesday, February 28, 2006 9:48 PM
  Subject: Re: [Public-list] Property Tax Value


  JOHN GRAVES wrote:
  > Thanks George,
  > Just to get an idea of what I'm looking at does anyone happen to know the BUC book quote for a 1965 A30?

  I haven't had a BUC book in a lot of years, but you can find them in 
  some libraries.  And most any sailboat broker will have one.  Just stop 
  in an office and ask to see it.

    - George
  _______________________________________________
  These businesses support your Association:
  http://www.alberg30.org/store/A30supporters.html<http://www.alberg30.org/store/A30supporters.html>
  Please support them.
  _______________________________________________
  Public-list mailing list
  Public-list at alberg30.org<mailto:Public-list at alberg30.org>
  http://alberg30.org/mailman/listinfo/public-list<http://alberg30.org/mailman/listinfo/public-list>

 1141194963.0