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1975 Monark John Boat value

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  • 1975 Monark John Boat value

    Hey all,

    I recently purchased a Jon boat to convert to a duck boat. I’m filling out the tax paperwork but did not get a bill of sale for the purchase (I know, shame on me). Anyway, I can use the “Fair Market Value” to determine what I need to pay for taxes to the state of Illinois.

    I’m struggling to find a Fair Market Value for a 1975 Jon Boat on NADA as my model (John boat) is not available for selection on there. There’s no other model info on the title either. Does anyone know where I could find the FMV for a 1975 John boat?

    thanks in advance!

  • #2
    Let's see, your boat is 44 years old. 44 bucks sounds fair to me. The tax people won't tell you if that's too high.
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    • #3
      scrap aluminum is $.23 per pound

      assume the boat weighs 300#

      so $69
      Cheesehead boating the Gulf Coast of FLA 27.51° N, 82.53° W

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      • #4
        Probably $300 or so is what I would put down.. Depends if Illinois is one of those states that will check and deem a fair market value if they don't trust what you put down. They would likely use the value from a similar boat and it's not hard to find Jon boat prices as long as your not brand specific
        1961 Custom Craft Sea Ray- 1964 Mercury 650. In family since new.

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        • #5
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          IN NJ they would want you to pay sales tax on the FMV. So $50 is the most I would declare. In NJ no one would question that amount for such an old boat.

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