High Taxes Send CT Residents Sailing Across State LinesMay 30, 2017
Local shoreline communities are feeling the pinch
Connecticut’s ever-rising taxes have sent residents literally sailing to neighboring states, a new development reported by the CT Post:
At Brewer Yacht Yards in Stamford, Stratford and several other Connecticut locales, the “vacancy rate” for available slips and moorings is about 15 percent, or sufficient for 435 vessels, according to Douglas Domenie, regional vice president.
While Connecticut shoreline empties, states like Massachusetts are running at “close to 100 percent:”
“Unlike any other period I’ve seen, Connecticut residents and other boat owners are … not getting out of boating — they are simply moving out to our neighboring states,” Domenie said. “Our Massachusetts marinas are running close to 100 percent occupancy, while occupancy at Rhode Island marinas have improved dramatically. This contrasts greatly with what we see in Connecticut.”
Connecticut’s high sales tax on boats, and the high cost of boating, has led owners across state lines to places like Rhode Island, saving them tens of thousands of dollars. Local shoreline communities are feeling the pinch:
Troy Bush, a salesman with Petzold’s Marine Center, which has locations at Norwalk Cove Marina and in Rhode Island, said a similar dynamic is at play with New York. He recalled a case last summer at Norwalk Cove Marina in which a customer weighing a Saber sailing yacht ended up buying the boat across the border, saving $34,000 on the sales tax.
Are Connecticut’s boating enthusiasts taxed enough already?
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