SB 251 – Changes the classification of certain watercraft from personal property to real property for property tax purposes

• Sponsor: Kehoe
• LR Number: 1224S.02I
• Committee: Ways and Means and Fiscal Oversight
• Last Action: 2/10/2011 - Second Read and Referred S Ways and Means and Fiscal Oversight Committee
• Journal Page: S236
• Effective Date: August 28, 2011

Current Bill Summary

SB 251 - This act changes the classification of certain watercraft from personal property to real property for property tax purposes. To be classified as real property, the watercraft must: be the temporary or permanent residence of the taxpayer; have kitchen, bath, and toilet facilities; have a sleeping area; be registered as a watercraft by the state; and be eligible for the home mortgage deduction on the taxpayer's federal income tax return.

This act is similar to House Bill 1647 (2010).

JASON ZAMKUS