1975 Monark John Boat value

shardy217

Seaman Apprentice
Joined
Jun 21, 2010
Messages
45
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!
 

GA_Boater

Moderator
Staff member
Joined
May 24, 2011
Messages
44,975
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.
 

Scott Danforth

Grumpy old guy who plays with boats
Joined
Jul 23, 2011
Messages
33,377
scrap aluminum is $.23 per pound

assume the boat weighs 300#

so $69
 

matt167

Commander
Joined
Sep 27, 2012
Messages
2,139
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
 

Chris1956

Supreme Mariner
Joined
Mar 25, 2004
Messages
23,762
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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