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Commissioner reports large increases in some boat assessed values; board asks for more data
Summary
Commissioner of Revenue Kelly Lumpkin said 2023 boat values rose in some cases as much as 800%; the board requested additional comparisons and data for discussion at the next work session.
Kelly Lumpkin, the Commissioner of Revenue, reported that assessed values for some boats in 2023 have increased substantially, with a few cases showing increases as high as about 800 percent compared with prior assessments. The board asked staff to gather additional information and comparisons and to include the topic on the agenda for the next work session for further discussion.
Lumpkin compared the boat-value trend to last year's used-vehicle increases and said staff will return with more detailed data to support any valuation or policy decisions.
