Financing

DayBreak · Posted: Wed Dec 11, 2024 9:20 pm Post subject:

So sorry to hear about all of this taxation with the initial purchase or annual ownership of a C-Dory boat. In Oregon, upon the purchase of a boat or automobile, there is no tax of any kind nor any kind of taxation after ownership. Not the reason why we moved here but thought I should make mention of it.

Captain Starbucks · Posted: Thu Dec 12, 2024 10:20 am Post subject:

Schuster · Posted: Thu Dec 12, 2024 12:09 pm Post subject:

DayBreak,
Our two states have different taxation schedules. Your state of Oregon has a state income tax which seems to cover all the expenses of your states budget, whereas Washington state does not have a state income tax, we have sales tax which depending on the county you live in varies by a few tenths of a percent. For instance in my county (Kitsap) the sales take is 9.2% while in Seattle (king county) the tax rate is 10,1%. The reason for the difference is that the state tax is actually 6.5% across the board but city taxes make up the difference. So that is why when we in Washington state want to make a substantial purchase we will take the drive south to save on the taxes. So if you're investing in electronics to the tune of $5,000, you'll save about $500. This however does not pertain to vehicles or boats that have to be registered. If I bought a boat in Oregon I would have to pay the tax on it in Washington State where I register it. Which is why so many think of creative ways of avoiding the taxes on boats and vehicles. However now a days the state has something like a KBB which they assign a value to your purchase. Pretty sure it isn't going to be in your favor.
Having said all of that and as much as we don't like paying taxes it is a necessary tool to keep the state running and the infrastructure up to standards we all want.

DayBreak · Posted: Thu Dec 12, 2024 1:37 pm Post subject:

Hi Dave and thanks. You are right. I was actually born in Washington State. Washington State does not have an income tax, which is nice and people can travel here and avoid tax on general sales items. The State of Oregon has been trying for years to have a sales tax but the voters keep shooting it down. Oregon is clean, with good roads and I have gotten spoiled in not paying sales tax on small or larger purchases.