Virginia votes down yacht tax cap - Trade Only Today

Virginia votes down yacht tax cap

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Virginia lawmakers rejected a measure Tuesday that would have allowed localities to cap the personal property tax on yachts.

The measure had passed the state Senate 39-1, but was defeated 78-19 in the House of Delegates, the Virginian-Pilot newspaper reported.

"Tax breaks for yachts?" minority leader Ward Armstrong said. He called it the "John Kerry Relief Act" and the "second-dumbest idea" of this General Assembly session.

Delegate Dave Albo raised the specter of voters confronted by Stuart's proposed amendment at the polls.

"This thing, even if it passes this chamber, in my opinion, has absolutely no chance of ever passing at the polls," Albo said, urging delegates to "reject this bill and save the voters the hassle of having to vote no."

Proponents said the measure would lure back yacht owners who dock their boats out of state to avoid Virginia taxes. If the big boats come back, they said, it would generate marina jobs.

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