2003 BCV Property Taxes vs. 2004

[FriendsOfEeyore]

I am little confused.

We purchased DVC at the beginning of the Summer of 2003. At closing we paid an estimate for 217 days of property taxes equal to $92.68. Today, we received our Dues statement for 2004 and states that the actual property taxes for 2003 was $0.0119 per point, therefore we have a credit of $91.27.

Why is there such a large credit? Did they overestimate the 2003 property taxes that badly? Why would 2004 be estimated @ $0.7868 per pt, even 2003 was only $0.0119 per pt?

Edward

 

[DebbieB]

Something doesn't sound right, the actual tax for BWV for 2003 was .805. Why would BCV only be .0119? I remember I had a big credit on my first statement, maybe it's something for new owners.

 

[CarolMN]

Originally posted by DebbieB
Something doesn't sound right, the actual tax for BWV for 2003 was .805. Why would BCV only be .0119? I remember I had a big credit on my first statement, maybe it's something for new owners.

My theory is that the developer paid the bulk of the property taxes for 2003 and that the .0119 figure was the prorated amount (based on purchase date) associated with the OP's contract. Since BCV is now sold out, the members will have to pick up the lion's share of the property taxes.

 

[vgaskin]

I think that smaller amount is the amount of taxes x the actual time you owed there, it was prorated, that is why it is so low. We also got the big credit since we bought in 2003. Just remember, your dues amount or monthly payment will be alot lower this year than next year!

 

[DebbieB]

In another thread, the original poster said their total taxes for 2003 was $1.41 and they bought 200 points around Memorial Day. I'm still questioning the .0119 rate. 200 points x .0119 = $2.38 x ~ .60 pro-rata = ~$1.41 total tax. As Carol suggested, there must be some kind of tax subsidy for the first year. The estimate listed above for 2004 is .7868, so the annual tax for 200 points would be about $157.

 

[BCVOwner2002]

I received my statement for BCV yesterday. It was for all of 2003 (365 days) and I own 300 points:

2004 - Property Tax - estimate $0.7868
2003 - Property Tax - actual $0.7867

I paid $230.28 in 2003 and the actual was $236.01 so I owe $5.73!

I'm not sure where others are getting credits from but if there any to be had - I want one!!

Annmarie

 

[FriendsOfEeyore]

My statement was my statement says...

200 pts @ $0.0119 per point. I actually owned DVC-BCV for 217 days so that would be 200 * 0.0119 * (217/365) = $1.41.

I talked to MS about switching to monthly today, but forgot to ask about the property tax issue for 2003.

Funny, how we forget those things when they are in our favor

Edward

 

[JimC]

Part of the credit probably belongs to the seller of your contract. We sent the sellers of the OKW contract we bought their share of the credit when we recieved it.

 

[FriendsOfEeyore]

We bought directly from DVC. I think it must be a credit from the developer as others have suggested.

 

[FriendsOfEeyore]

We bought directly from DVC. I think it must be a credit from the developer as others have suggested.