I can comment on Calif. vs Florida--and taxes are one of the reasons I left
California 14 years ago.  The Calif. board of equalization will be relentless
in persuing personal property tax.  I am not sure that the Personal property
tax is 8.25%, I believe that is sales tax.  There is an additional personal
property tax which is assesed each year by the county where the boat is
docked, or the owner lives.  Florida has a sales tax of 6% for any amount over
$5,000.  The first $5,000 is at the local option rate--can be up to 8%.  There
is no personal property tax in Florida.  There is a registration fee, even for
a documented vessel, which is about $40 for a boat from 26 to 40 feet.

The Calif. Sales tax used to be negated by offshore delivary and keeping the
boat in Mexico for 3 months (I did this years ago, and justified it because I
was not going to be using the boat primarly in Califorina).  However it is now
a one year wait.  There are other places where you can wait out this
year--including Alaska.  Washington is not a good state, since they will
agressively persue their own sales tax.

There are people who say you can avoid personal property tax by not having
your boat in the state on the date of assesment.  This is simply just not
true.  There are assessors who review the records of marinas, and even go door
to door and review what boats are in back of houses.  I got hit up with
personal property taxes and penalities for 4 years when the boat was only in
Calif for about 4 months before I left to go cruising.  I finally won my case,
by presenting the entire ships log, along with receipts for marinas, the
Panama Canal Transits, and copies of our passports.  The amount was in excess
of $20,000.

I am sorry, but don't know the amount of personal property tax currently in
Calif--but it used to be 3% of the assesed value .

There is also a possessary interest tax, on the water under the boat slip
which you rent in Marina Del Ray--It used to be about $700 a year for a 65
foot Slip in Long Beach--I am sure it is considerably more now.

Insurance:  It can vary depending on the vessel and intended use.  I went
without insurance on my long cruises, because I felt that the risk was
low--and insurance at that time was 10% of the value of the boat (which was
more than our cruising budget) per year.  Now 1 to 3% of the value of the
boat, in Florida, seems to be the norm.  But most companies are not writing
for more than $100,000 or more than 30 feet in length--others exclude any
damage from a named storm--so insurance in Florida is a major problem--despite
the freedom from personal property taxes.  Yes, the experience of the owner,
the number of people aboard and the areas you are going to are all factors.
We were susposed to have 3 people aboard--another reason not to have
insurance--often we did passages alone.  There were areas we wanted to visit,
which were restricted.
Most marinas do require at least a liability insurance policy currently--so I
would consider this an essential.

Haul outs--figure that you will haul the boat every 2 years at a minimum.  You
will probably have a diver to clean the bottom every month--that will cost
another $5 to $8 or so a foot a month...
Wax and wash--if you can find someone, I pay about $10 a foot, up to $20 a
foot at least twice a year.

Engine maintance--figure several hundred dollars if you have some one do the
oil change--if you do it, probably in the $50 to $100, depending on the
engines.  Fuel polishing?  I do it myself--but a dollar to two dollars a
gallon is not unusual.

Things that break:  Figure at least 5% a year for that.  There is wear and
tear--which is beyond things that break--for example I was just reviewing some
6 year old boats for sale, which had broken generators, and other equiptment
which just had worn out from hard cruising.

Then there are the costs of cruising and living.  If you are going to try and
live in the Bahamas, you probably will do best to live as the locals do.
Common grocery items may be much more expensive--as is fuel and water.  (you
probably will want a water maker, and put in the cost of fuel for the genset
at considerably more than in the US)--also filters and occasionally new
membranes for the water maker.  We tried to live on the local economies--and
shop at local markets, avoid expensive tourist places etc--it can be
relitatively in-expensive.

You can stay in the Bahamas for 8 months per entry.  I am not sure if you can
just go back to the US and fly right back.  There is a fee for the boat: $150
up to 35 feet and $300 over 35 feet.  This is valid for 2 entries in a 90 day
peroid.  If you have substantial financial means you can be granted permanent
status in the Bahamas--pruchasing a house for $250,000 or investing $500,000
in properties or business (you cannot work there without special permits)
would qualify you for perment residence according to some sources.  I doubt if
owning a $250,000 boat would qualify?

The Bahamas are better the further you get from the US, so if you plan on
going there, plan on going as remotely as possiable--and with shoal draft to
avoid the large crowds at places like Georgetown...

Have fun--and get the h.....out of Calif!

Bob Austin

Thanks, Bob, for the excellent contribution to the thread.

Gary and others, for another take on the subject, see what Phil Rosch
of Curmudgeon, a Marine Trader 44 TC, has posted on a sister list:

http://lists.samurai.com/pipermail/trawlers-and-trawlering/2006-August/108934.html

--Georgs

Georgs Kolesnikovs
Power Catamaran World
http://www.powercatamaranworld.com