Texas House Committee Approves Tax Break for Yachts

The Texas House Ways and Means Committee has approved a tax break for those who want to buy yachts that cost over $250,000.

In a vote on April 27, the committee approved a bill by Houston Republican Rep. John Davis. The proposed law would cap the maximum sales tax the state would collect on the sale of a personal boat.

Representative Davis says the measure is needed because Florida has a similar law and boat buyers are going there to make their purchases. The measure passed on an 8-3 vote along party lines.

Texas Democrats are outraged at the proposed tax break, citing Texas must make hard decisions in finding ways to cut $27 billion in state services from the budget.

The bill will now be considered by the full House in Texas.

Similar legislation related to tax breaks for yachts is being considered in several large yachting states, including Connecticut.

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Yachts For Sale in Texas

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