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Section 228 Of Article 1. Taxable And Exempt Property From California Revenue And Taxation Code >> Division 1. >> Part 2. >> Chapter 1. >> Article 1.
228
. (a) A vessel with a market value of four hundred dollars
($400) or less shall be free from taxation. This section shall only
apply to vessels used or held for noncommercial purposes and shall
not apply to lifeboats or other vessels used in conjunction with
operations of vessels with a market value of more than four hundred
dollars ($400). This section shall not apply to more than one vessel
owned, claimed, possessed, or controlled by an assessee on the lien
date.
(b) For purposes of this section, "vessel" includes every description of watercraft used or capable of being used as a means of transportation on water, except vessels described in paragraphs (1) and (2) of subdivision (c) of Section 651 of the Harbors and Navigation Code.
(c) For purposes of this section, "vessel" includes all equipment, including mode of power, and furnishings that are normally required aboard the vessel during the accomplishment of the functions for which the vessel is being utilized.
(b) For purposes of this section, "vessel" includes every description of watercraft used or capable of being used as a means of transportation on water, except vessels described in paragraphs (1) and (2) of subdivision (c) of Section 651 of the Harbors and Navigation Code.
(c) For purposes of this section, "vessel" includes all equipment, including mode of power, and furnishings that are normally required aboard the vessel during the accomplishment of the functions for which the vessel is being utilized.
