For more years than I can count, there has been a marina question I've wanted answered.  It's been asked of me many times and I just didn't have a full explanation.  The question is why don't more marina owners switch from fixed docks to floating docks?  So I put on my Sherlock Holmes hat and.

So is it worth going ahead and getting floating docks treated as personal property?  There are two financial advantages:  lower personal property tax rates and accelerated depreciation. Personal Property Tax Rates Lower than Real Property This is another one of those "it depends" discussions.  In Anne Arundel County Maryland, the real property tax rate is 0.888 per.

Personal Property Tests The core test for determining if a dock is personal property is definitional.  Here's an interesting quote that shows how CPAs are to handle the distinction between real and personal property.

In distinguishing between a building’s tangible personal property and structural components, CPAs will find the courts to be a final source.