IMPORTANT NOTICE FOR WATERCRAFT OWNERS
As of January 1, 2014, House Substitute for Senate Bill 83 has redefined watercraft and the assessment level at which they are taxed.
Each Watercraft Unit can include a vessel, a vessel trailer, and vessel motor(s). These Watercraft Units will be valued at market value with the assessment rate for taxation decreasing from 30% to 11.5% in 2014, and then to 5% in tax year 2015 and thereafter. The minimum tax amount will never be less than $12.00.
Due to this required minimum tax amount, as set out in state statute, the previous $750 or less exemption that was effective January 1, 2009 is no longer in force. Because of this change, some owners will receive a 2014 Ad Valorem tax return for the first time since 2009. Please be sure to complete the form and return it to our office prior to the March 15, 2014 deadline to avoid any late penalties.
All Watercraft will be valued at market value and will have at least a minimum tax amount of $12.00 for the 2014 tax year.
If you have any questions or concerns regarding this new statute, do not hesitate to contact us at the Osage County Appraisers Office, 785/828-3124.