1976 Tom Boy Boat, 1976 40 HP Johnson Outboard and who knows what Trailer

[gm280]

I know that feeling, by now I'd be content with plankton soup

What grit you going to be using on the primer btw? And how much smoother grit near the edges??

Red, I use 320 grit initially to knock down the raw primer with a DA sander and then come back with 400 wet and dry hand sanding for a final before painting. At 400 grit, it is really smooth and still allows the paint to adhere to the primer very well. Then I will shoot a few coats of paint followed by a few coats of Clear to seal everything up nicely. And probably even 2000 grit wet sand the clear before buffing it all out. I also could wet sand the paint before shooting the clear coats if it looks like it could use it. I've done it both ways and it really depends on how the paint coats look before shooting any clear. I really need to get back on it now as well. Spawning crappie season is not that far off.

 

[Pusher]

Geez how'd I miss your project GM!? This thing's going to be a fishing MACHINE! I skimmed through like I was reading a picture book and you transformed this thing from an ugly turd to the perfect setup (in my mind at least).

Nice work.

 

[gm280]

Geez how'd I miss your project GM!? This thing's going to be a fishing MACHINE! I skimmed through like I was reading a picture book and you transformed this thing from an ugly turd to the perfect setup (in my mind at least).

Nice work.

Thanks Pusher. Sadly this boat thread has been on here for way too long and not yet completed. As with most folks, when we first start our boat projects, we have a quick finish in mind. I think I was figuring about two months, then 6 months, then by next fishing season. Well all those have pasted a few times over and it is still not complete. However, life takes precedence in my book and we've (wife and I) had a lot happen during those years. But I have finite plans to finish this because I have a stack of other projects building up now. :facepalm:

 

[archbuilder]

Yeah I was thinking an over winter project on Fuggly GM...but stuff gets in the way. Just keep plugging along, the turtle always wins! (and doesn't do it twice)

 

[Pusher]

Thanks Pusher. Sadly this boat thread has been on here for way too long and not yet completed. As with most folks, when we first start our boat projects, we have a quick finish in mind. I think I was figuring about two months, then 6 months, then by next fishing season. Well all those have pasted a few times over and it is still not complete. However, life takes precedence in my book and we've (wife and I) had a lot happen during those years. But I have finite plans to finish this because I have a stack of other projects building up now. :facepalm:

Hah, I know the feeling too. Mine needs a motor swap, fiberglass touchup, fuel system fine tuning, and a good amount of buffing. I bought the boat in July of '14 and I thought I'd be fishing the fall salmon run..... It kewps the dream going right?!

Your boat will be totally worth it as soon as it hits the ramp wish I could be there to wave you off.

 

[gm280]

Okay folks, I need some help with this issue.

We recently receive a notice from the tax office that we need to pay taxes on my project boat. However, they want me to guestimate the value and send it back to them so they can calculate the value. Here is the problem. I bought the boat motor and trailer for somewhere around mid $4XX dollars amount with the rest of the $600 dollars payout being paperwork costs. And since that time, I have rebuilt the trailer, engine and getting close to finishing up the actual boat. And yes I have spend a few thousand dollars on the refurbishing efforts as well. But how do you guesstimate an honest valve in something you haven't even finished or splashed yet? DO I merely provide the original purchase costs, or do I try to add up the materials with the original valve for the total valve, or do I even guess what it would sell for? I have on idea and I need to send this form in now! Any ideas? :noidea: :help:

Oh, by the way, even though I have never even test drove the trailer on the road yet, I have it registered and pay taxes and license fee on it yearly already.

 

[sphelps]

When it comes to taxes I would say less is more ...the more you say it's worth the more taxes they will charge .never heard of paying extra taxes on a boat . Must be a GA thing .

 

[Pusher]

What tax office is asking for this info? If it's your department of motor vehicles then it should be the purchase price from the PO I believe. You paid sales tax on the supplies already if your state does that. I don't think I've ever heard of a tax office wanting property value except for business asset tax values. ???

 

[archbuilder]

That seems weird, in OK it is based off of the original sales price way back when. Fair market value is probably going to be a lot less than what you have in it. I tried to insure Miss Morgan for replacement cost and the insurance company would only value her at $700 unless I had a naval architect give me an appraisal.....I don't even want to think of what I spent on her! I'm with Sam, guess low

 

[gm280]

Thanks guys. Yes, I realize the more I state the valve the more taxes I will be forced to pay. I guess the original price I bought it for would suffice. And since it is a 1976 Tom Boy that has long since gone out of business, there has to be near zero book valve if they could even find such a listing anymore. So I think I will go with the purchase price and leave it be. It will be on them to change that amount. Thanks for the input folks. :smile:

 

[sphelps]

Do you have to pay an extra tax on your car ? Just seems odd . I would think the tax is in the cost of registration every year ...

 

[gm280]

Do you have to pay an extra tax on your car ? Just seems odd . I would think the tax is in the cost of registration every year ...

They call it a personal property tax. I already pay the tax and licence fee for the trailer yearly. I registered the hull late in the year last year so that when I paint the registration numbers on the hull, they will be he correct numbers. I guess the DNR contacted the country tax office to let them know a boat was registered...again, since the same old registration numbers are still correct. AND now the country wants their cut. Taxes, go figure!

 

[archbuilder]

That is nuts, basically paying taxes on it twice!

 

[Pusher]

Here's what Washington says

"PERSONAL PROPERTY TAX
Most people know that property tax applies to real property, however, some may not know that property tax also applies to personal property. Most personal property owned by individuals is exempt. For example, household goods and personal eects are not subject to property tax. However, if these items are used in a business, property tax applies."

You might check your state and make sure they're not confusing it for a business asset. Obviously, I have no clue how your state works.

I like how our country was formed over "No taxation without fair representation" yet we have the highest tax rates in the world and so much money is sent across the broders to our enemies. Crazy world we live in.

 

[Patfromny]

That is nuts, basically paying taxes on it twice!

unless his DMV didn't collect the tax at registration. If that is the case they can only charge you for the blue book or purchase price. Send them a copy of the bill of sale with the form and pay that amount. The insured value has nothing to do with taxes. You are paying the insurance company to insure the boat for said amount. If you ever make a claim on the boat you might have to pay Capitol gains but I doubt the amount you will get would even quailify. And you can show all your receipts at that time to drive that amount paid to you down to nothing or a negative.

 

[gm280]

Well I filled out the form(S) and they are ready to send in now. I researched the original purchase price of the boat, motor and trailer and it was exactly $463 dollars. So that is what I stated as the value. How can I guesstimate any other value with a 1976 setup? :noidea: The value to me would be one thing while the value to someone else would be entirely different I'm sure. And if we go by book value, it probably is not even showing $463 dollars. So we will see. Taxes, everything is taxed these days.

 

[mickyryan]

I don't see how its even taxable if its not assembled and working order.

 

[Pusher]

A vehicle's a vehicle I guess. Washington had too many people "gifting vehicles" so now I think you have to pay for a $200 sales price as a minimum.

 

[Patfromny]

I don't see how its even taxable if its not assembled and working order.

Once you register a vehicle it is taxable. That's why we had two bills of sale when we bought cars back in the day. One for price paid and one for a hundred bucks,as is, for DMV.

 

[gm280]

It has been a few days since last post. So I guess I need to post something.

Does thinking about the boat count towards working on it? Because while the weather was nice, I actually got a lot of other things accomplished, but did nothing on the hull. I know, I should have worked in some boat work, but I had such a long list (and it still is long) to do. And while I did get a lot of things done, you never really finish a list of to-do's ....ever.

Over this past weekend we had some serious storms come through both days. And we didn't have any damage but not that far from us the WalMart was damaged really bad. In fact it id now closed for repair. And house and trailers close to that WalMart were damaged as well. Nobody locally were hurt, but a little distance from us there were some deaths from those tornadoes and serious storms. It was that bad. They are still trying to confirm the number od deaths from those storms. Sad to heard that. You can only do so much and the storms go where they like. Trailers usually catch the brunt of most any storm though because of their designs.

So after about a week of upper 70's, we are now dropping to the low 50's for our daily highs. So no painting now. But I still can sand and prep. And I need to work on it if I have any hopes to fish this spring's spawning crappie season. Who would have thought this little boating project would have taken this long. :noidea: