VIRGINIA BEACH--A proposed personal property tax on recreational boats in Virginia Beach has some marinas worried about sales.
The proposed tax in the 2013-2014 budget present before City Council Tuesday would increase the property tax on recreational boats by 1% while decreasing the property tax on commercial boats from 1.5% to 1%.
“The tax impacts boat sales,” says Chuck Guthrie, president of Lynnhaven Marine.
Guthrie says the recession caused boat sales in the region to decline by more than 60%.
The City’s Budget director Catherine Whitesell says the tax would pay to maintain channels and inlets in case federal funds shrivel up.
There will be a public budget information session on Thursday, April 4 at 6:00 p.m. at the Virginia Beach Convention Center on 19th Street.
Then there will be two public hearings: Thursday, April 18, at 6:00 p.m. at Virginia Beach Middle School at 600 25th St. and Tuesday, April 23, at 6 p.m. in City Council chambers.
To sign up to speak at the hearings, contact the City Clerk’s Office at (757) 385-4303. Each speaker will have three minutes to present his or her concerns.
A vote on the budget is scheduled for Tuesday, May 14.
Click here to read documents for the FY 2013-2014 Budget.