Vessels and their assessed value

Vessel Property Statement

Vessels must be reported on the Vessel Property Statement (Form 576-D), as of the lien date, January 1, unless you are already on a Direct Billing (assessed based on prior year value with a threshold of $50,000 or less).

To file a vessel property statement, please go to our online portal.

• A report on BOE-576-D is required of you by section 441(a) of the Revenue and Taxation Code (Code). The statement must be completed according to the instructions and filed with the Assessor on or before April 1. 
• Failure to file it on time will compel the Assessor to estimate the value of your property from other information in the assessor's possession and add a penalty of 10 percent as required by Code section 463.
• This statement is not a public document. The information contained herein will be held as confidential by the Assessor (Code section 451). 
• It can be disclosed only to the district attorney, grand jury, and other agencies specified in Code section 408. Attached schedules are considered to be part of the statement. In all instances, you must return the original BOE-576-D.

Commercial Fishing Boat Exemption

Revenue and Taxation Code section 227 states: "A documented vessel, as defined in Section 130, shall be assessed at 4 percent of its full cash value only if the vessel is engaged or employed exclusively in any of the following:

1. In the taking and possession of fish or other living resource of the sea for commercial purposes.
2. In instruction or research studies as an oceanographic research vessel.
3. In carrying or transporting seven or more people for hire for commercial passenger fishing purposes and holds a current certificate of inspection issued by the United States Coast Guard.

Documented vessels used primarily for commercial fishing operations or oceanographic studies should:

1. File a vessel property statement as outlined above on our online portal.
2. File a BOE 576-E form for the commercial fishing boat exemption and submit to our office via mail, in-person or at assessor@sfgov.org. 

Frequently asked questions

Question: Why are you taxing my vessel?

Answer: The California Revenue and Taxation Code states that all property is subject to property tax unless otherwise exempt. Homeowners are familiar with the property taxes on their home. Vessels are taxable personal property and are therefore subject to property tax assessment in accordance with Section 201 of the California Revenue and Taxation Code.

Question: How is the assessed value determined?

Answer: Vessels are appraised annually at full market value. The value is determined by reviewing the information on the Vessel Property Statement (Form 576-D), along with purchase information and comparable sales. Ownership information is also obtained from the California State Department of Motor Vehicles (DMV), the United States Coast Guard (USCG), and an on-site inspection of all marinas.

Question: When will I receive my bill?

Answer: If you file your Vessel Property Statement (Form 576-D) by the April 1st deadline, you should receive your tax bill by the end of June. Payment is due on or before August 31st and becomes delinquent after that date. Delinquent bills will be subject to penalties and interest imposed by the San Francisco Office of the Treasurer & Tax Collector.

Question: If the vessel property statement is not filed, how will my vessel's assessed value be determined?

Answer: If you do not file a Vessel Property Statement, the Assessor’s Office will determine an assessable value as directed by the state law. In addition, a 10% penalty for failure to file will be added to your assessment.

Question: I lost, sold or moved my vessel before January 1st of this year. Do I still need to file the Vessel Property Statement?

Answer: Yes, you still need to file the statement. The Form includes a place for you to indicate the current status of your vessel and the date the status change took effect. If you sold your vessel, please indicate the name and mailing address of the new owner. After completing the form, please sign and return it to the Office via the online portal, by mail or bringing it in person to our office. 

Question: Are vessel berths subject to property assessment?

Answer: Yes, boat berths rented or leased from government owned marinas, such as Fisherman’s Wharf, Pier 39, San Francisco Yacht Harbor, and the South Beach and Treasure Island marina are taxed annually as a possessory interest. These tax bills are based on rent paid at that marina. For inquiries please reach out to our office via email at assessor@sfgov.org, calling us at 628-652-8100 and ask for the Possessory Interest Unit.

Question: How do I receive a copy of my prior year's statement and valuation?

Answer: Email askBPP@sfgov.org or send your written request to the Business Personal Property Division; Attn: Marine Division at 1 Dr. Carlton B. Goodlett Place, Room 190, San Francisco, CA 94102. Please include the Vessel No., ownership name and mailing address. Also specify the year you are requesting. If you are an agent of a boat owner, an authorization letter from the vessel owner is required.