An enhanced filtration and water conditioning system for a novel bait tank suitable for use in recreational boats, dockside and land based personal and commercial applications wherein water from the tank may be climactically controlled, filtered, purged of sediment, displaced scales and other fish waste and returned to the live well tank. Separate first and second water compartments within the tank function in concert with a second interior wall and a second interior bottom, a dual compartment filtration unit removably accommodated within the interior portion of the second compartment, and filtration unit inflow and outflow water conduits with each of the conduits communicably attaching the filtration unit to the first and said second interior water compartments. An independent circulatory means allows for water to be additionally withdrawn from the tank and introduced to a refrigerant based heat exchanger means, regulated in a manner to sustain a water temperature necessary to sustain the life of fish placed within the tank and then re-introduced into the tank.