The personal property tax on boats in Gloucester County has been reduced, thanks in large part to several Virginia Marine Trades Association (VMTA) members.
Boats had been assessed at one dollar for every $100 of assessed value which brought in funds to cover about one percent of Gloucester’s budget. However, the VMTA team argued that by eliminating the tax Gloucester would see an increased economic benefit of $18 million as well as added jobs and a 7.5 percent increase in registered boats. The figures were based on the income Hampton saw when they cut their tax on vessels several years ago.
Several Gloucester marine business owners stood up before the Gloucester Board of Supervisors to talk about the business they lost and jobs they were forced to cut when boaters left for more tax friendly ports in Hampton and northern Virginia.
The group cited research and reports that indicated the loss of boaters and accompanying businesses and jobs in Stafford C...
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