They is a seperate line item on the DVC bill. I deduct them from my taxes just like my property tax at home.
I do too.
They is a seperate line item on the DVC bill. I deduct them from my taxes just like my property tax at home.
This article suggests that provided the property taxes are either directly billed to you or separately stated on your maintenance fee billing, they are deductible. DVC has a line item for the actual property tax paid on the annual dues bill.What do you mean deduct the allowable part of MF? Are the property taxes separately billed for dvc? Otherwise, none of it is tax-deductible unless you rent out and reduce your taxable income by the expenses?
theguda said:On the contrary...people who analyze #'s like this are more likely to drive whatever they want and live in a $500,000 house. It's smart to analyze all this when making a large, long term purchase. People who buy based on feelings are the ones who struggle eventually.
I think it's smart to analyze any such purchase but I'd contend that "garbage in, garbage out" applies here. I'd also quibble with the idea that those who do such analysis are likely to be more successful. I'd suggest that it's the quality of the analysis and then the correct actions that make some successful, not the effort alone. I've seen FAR too many here and elsewhere overanalyze and make assumptions that end up being unreasonable. Some such assumptions (IMO) are assuming a 7% long term rise in room costs, that MF will be limited to 3% on average long term and comparing to DVC rack rates as their basis of comparison. I think another big mistake some make is assuming DVC is the best timeshare for them, often it isn't. While there are exceptions, I think most analysis is done trying to justify a purchase rather than looking at it objectively. I think DVC rarely saves people money because people tend to spend any extra money anyway, but it MAY give you more for your money or it may not.On the contrary...people who analyze #'s like this are more likely to drive whatever they want and live in a $500,000 house. It's smart to analyze all this when making a large, long term purchase. People who buy based on feelings are the ones who struggle eventually.
elfbo said:Anyone else see the op ask about buying a contract from a member in another thread? Looks like they changed their mind! Not that i mind at all because ive gone back and forth on the issue myself. But ultimately decided that is is worth it for my family.
theguda said:I've said multiple times that buying a small contract would be worthwhile since you'd gain the small benefits of owning at a low cost point. I don't know why my making an offer on a 50 point contract would be a surprise...but I'm glad so many are interested and following my posts.
Good-day community.
Just joined and thought I would weigh in a few thoughts. I am in the process of putting some offers on some resales and jump into this ownership thing called DVC. My spouse and I looked at this for years, but feel now is a financially safe time for us to do it, even though our children are mature teenagers.
I have read many posts on the financial consideration of ownership. I struggle with many of these opinions my self. I like to equate it to the comment about a vehicle. Buying a timeshare is expensive, and does have maintenance. But so many people in the world just spend 30-50k on a vehicle without a second thought and it depreciates like mad. I know many owners of cottages, and yes, there is a real estate investment, but the cost and headache to maintain is quite expensive.
To me ownership is something you need to be able to afford, and plain and simply want (just like you want that BMW SUV). I did not do a single calculation on whether I should own or buy an RRSP, these are two different lines of thought. I put money away into a pension, and for this I am buying some 'fun' to add to my life. The only financial consideration that I am doing the math on, is how much I should start with, and then work towards adding on, so I do not accumulate debt.
I also looked at the rental option, but I guess I am more of a buy person. To me and my spouse, this is exciting to own and plan a trip a few times a year. I don't think it will ever make sense financially, but I do not think it will be total money down the drain like blowing 10k at a casino. There is value in ownership.
I am awaiting an offer going through and then the ROFR process, and then I am going to vacation the heck out of Disney and start to slow down from my job a little.
It is not a financial choice to us, its a 'want' to add a different quality to our lifestyle and a change.
I want to thank all those who contribute on these boards and how much information it has given us... it has been great.
We are staying in a SSR rental in May and hope to own for our anniversary trip in October.
Good luck in your decision. I know it was a long one for us.
Doug J
(for all those great white northers) - how's it going eh?
If it makes you feel better, I remember that this was your thinking when I saw that post. What I do find interesting is that you dismiss long term guaranteed benefits of ownership, but you seem to have no problem paying a premium on a small contract to benefit from non guaranteed perks that can be modified or taken away at any time.
Good-day community.
Just joined and thought I would weigh in a few thoughts. I am in the process of putting some offers on some resales and jump into this ownership thing called DVC. My spouse and I looked at this for years, but feel now is a financially safe time for us to do it, even though our children are mature teenagers.
I have read many posts on the financial consideration of ownership. I struggle with many of these opinions my self. I like to equate it to the comment about a vehicle. Buying a timeshare is expensive, and does have maintenance. But so many people in the world just spend 30-50k on a vehicle without a second thought and it depreciates like mad. I know many owners of cottages, and yes, there is a real estate investment, but the cost and headache to maintain is quite expensive.
To me ownership is something you need to be able to afford, and plain and simply want (just like you want that BMW SUV). I did not do a single calculation on whether I should own or buy an RRSP, these are two different lines of thought. I put money away into a pension, and for this I am buying some 'fun' to add to my life. The only financial consideration that I am doing the math on, is how much I should start with, and then work towards adding on, so I do not accumulate debt.
I also looked at the rental option, but I guess I am more of a buy person. To me and my spouse, this is exciting to own and plan a trip a few times a year. I don't think it will ever make sense financially, but I do not think it will be total money down the drain like blowing 10k at a casino. There is value in ownership.
I am awaiting an offer going through and then the ROFR process, and then I am going to vacation the heck out of Disney and start to slow down from my job a little.
It is not a financial choice to us, its a 'want' to add a different quality to our lifestyle and a change.
I want to thank all those who contribute on these boards and how much information it has given us... it has been great.
We are staying in a SSR rental in May and hope to own for our anniversary trip in October.
Good luck in your decision. I know it was a long one for us.
Doug J
(for all those great white northers) - how's it going eh?
ps. sounds like a good buy with 2012 points, I would be interested in it?
I think it's smart to analyze any such purchase but I'd contend that "garbage in, garbage out" applies here.
So very well said, you don't buy a timeshare because it is a financially sound decision.
I do. I could stay at WDW and even all the DVC resorts if I wanted to without buying DVC. If it weren't a financially sound decision, I wouldn't have done it. I realize others have different considerations but for me it was all about saving money on lodging over the long run.
I do too.
This article suggests that provided the property taxes are either directly billed to you or separately stated on your maintenance fee billing, they are deductible. DVC has a line item for the actual property tax paid on the annual dues bill.
They is a seperate line item on the DVC bill. I deduct them from my taxes just like my property tax at home.
If you no longer have your dues bill, log in to the DVC member site. Look up your dues statement online. The 2012 Actual Property Tax amounts you paid are listed for each resort you own right on your statement.Can anyone share the tax amount per point (and which dvc)? Or direct me to where this info. can be found for each dvc property? TIA!
Wow. I've been following this thread off and on since the beginning, and it's starting to remind me of the infamous "emu leg" thread that was forcibly retired years ago.
Are you an owner? It's on the annual dues statement you received at the beginning of the year. Shows what you paid as estimated last year and what actuals were, and credits you the difference (usually it seems to go that way, but not always of course).
If you no longer have your dues bill, log in to the DVC member site. Look up your dues statement online. The 2012 Actual Property Tax amounts you paid are listed for each resort you own right on your statement.
I listed the step by step instructions in this post: http://www.disboards.com/showthread.php?p=47193674
and also here: http://www.disboards.com/showthread.php?p=47335367