The NYMTA plans to launch a website to educate concerned parties on the proposed luxury tax and how to lobby their representatives to vote against it. To learn more, visit NoLuxuryBoatTaxNY.com or call 631-691-7050.
A grassroots campaign, led by the New York Marine Trades Association (NYMTA), is fighting part of New York Governor David A. Paterson’s proposed $121 billion annual budget, which was released December 16. In an effort to close New York’s $15.4 billion budget gap, Paterson seeks to impose 88 new fees and taxes, including a 5 percent luxury tax that would be levied on boats costing more than $200,000.
NYMTA Executive Director Chris Squeri said opponents of the proposed tax must educate the governor’s office about how it would adversely affect New York marine businesses. Squeri maintains that a luxury tax on boats would fail to bring money into the state’s coffer because many consumers would either not purchase a new boat, or decide to buy them in other states. He added that the tax would also have a domino effect that would be detrimental to dealers, marinas, repair facilities and other businesses.