Senator Kerry to pay $500K tax on yacht after question of impropriety

"We’ve reached out to the Massachusetts Department of Revenue and made clear that, whether owed or not, we intend to pay the equivalent taxes as if the boat’s home-port were currently in Massachusetts," Kerry said in a statement released this afternoon. "That payment is being made promptly."

Kerry has been hounded by questions in recent days about whether he purposely tried to evade taxes in his home state by listing the $7 million yacht's home berth as Newport, R.I., when he actually intended to use the boat at his summer home on Nantucket. His purchase of the yacht was first reported in the Boston Herald.