Politics & Finances

Taxpayers Will Not Be Liable For Millions In Queen Mary Ship Repairs

Taxpayers Will Not Be Liable For Millions In Queen Mary Ship Repairs

Early in November 2022, the Long Beach City Council approved a new round of funds to assist with repairs on the RMS Queen Mary

Council members voted for $1 million to pay for ongoing repairs on the aging tourist attraction, which primarily sailed the North Atlantic between 1936 and 1967. It was initially constructed and owned by the Cunard-White Star Line, the same cruise line that infamously owned the Titanic.

The City of Long Beach now owns the converted British ocean liner. Prior to its pandemic-related closure in 2020, it served as a museum, hotel, restaurant, and event space, earning approximately $3.3 million in tax revenue annually. 

Credit: Phil Cardamone (Wilshire Images)/Getty Images

Prior to the temporary closure of the facility, inspectors found the permanently docked ship had been neglected and was in imminent danger of sinking without immediate maintenance.

According to a Los Angeles Times report, several studies have estimated the Queen Mary needs nearly $300 million in renovations and upgrades to prevent it from flooding and potentially sinking. 

Elliott Bay Design Group, hired by the city last year, reported that the Queen Mary requires $23 million in urgent repairs to avoid capsizing.

The Times noted that this latest round of $1 million is in addition to over $5 million the Long Beach City Council approved in early 2022. That money was used for critical infrastructure repairs, including the removal of lifeboats that were putting undue stress on the ship’s support system. 

California taxpayers should be aware that they will not be liable for the ongoing Queen Mary renovation. 

Credit: Ekash/Getty Images

The expense is expected to be offset by revenue already generated from special events and film productions. The ship has been used as a set in a number of popular movies, including Pearl Harbor and Leonardo DiCaprio’s The Aviator.

At this time, Long Beach officials have not indicated whether or not future maintenance costs may be funded by a tax levy. 

What do you think about the Queen Mary’s current state of disrepair?

Feature image credit: Christian Peterson/Getty Images

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Spencer Wilson

Spencer Wilson

Spencer Wilson, EA is a tax preparer based in Long Beach, CA. Spencer Wilson Financial Management Services has been serving the Greater Los Angeles Area and Orange County since 2004. <br /> We began in the heart of Naples in Long Beach and we continue to work hard offering tax preparation and planning, business accounting and bookkeeping and payroll services . <br /> We have helped many different people and businesses succeed financially and take control over their finances.

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