2018 DVC Budgets are Released

[deerh]

Sorted by greatest increase to smallest

Aulani Subsidized $5.66 $5.28 $0.38 7.28%
Aulani $7.54 $7.03 $0.51 7.19%
Hilton Head $7.72 $7.27 $0.45 6.13%
Boulder Ridge $6.93 $6.54 $0.39 6.02%
Bay Lake $5.92 $5.62 $0.30 5.38%
Vero Beach $8.53 $8.11 $0.42 5.13%
Old Key West $6.72 $6.41 $0.31 4.91%
Grand Californian $5.88 $5.61 $0.27 4.86%
Saratoga Springs $5.86 $5.60 $0.26 4.58%
Grand Floridian $6.13 $5.90 $0.23 3.95%
Beach Club $6.44 $6.27 $0.17 2.76%
Animal Kingdom $6.76 $6.59 $0.17 2.53%
Boardwalk $6.55 $6.47 $0.08 1.23%
Polynesian $6.20 $6.14 $0.06 0.99%
Copper Creek $7.26 $7.32 -$0.06 -0.79%

Thought I saw on dvcnews.com in September, that CCV was going down $1.61/point due to over estimated taxes... What happened to that scenario???

 

[_auroraborealis_]

Thought I saw on dvcnews.com in September, that CCV was going down $1.61/point due to over estimated taxes... What happened to that scenario???

Higher maintenance. Cabins plus hurricanes, probably.

 

[hakepb]

Higher maintenance. Cabins plus hurricanes, probably.

It’s surprising Poly had such a small increase, since it seemed like they had some damage (a few large trees and some building covering damage)

 

[KAT4DISNEY]

Thought I saw on dvcnews.com in September, that CCV was going down $1.61/point due to over estimated taxes... What happened to that scenario???

That was based on the tax assessment - never anything from DVC directly. It is possible there will be a rather significant return from estimated taxes paid but I don't think that number is available until the dues statements are sent out.

 

[SL6827]

With all that talk about the assessor raising Disney's taxes on all its properties quite a bit, is that still supposed to happen? If so, will it be at the end of next year? Or was there really nothing to it?

 

[PaintsWithAllTheColors]

With all that talk about the assessor raising Disney's taxes on all its properties quite a bit, is that still supposed to happen? If so, will it be at the end of next year? Or was there really nothing to it?

I’m wondering this too... especially because I live in California and don’t fully understand how this works. For me, once I’ve bought property, the assessed value doesn’t change, it’s essentially locked in. My understanding is that’s not true for other states. So, I’m confused as to what’s being debated, the tax rate or the assessed value?

 

[_auroraborealis_]

I’m wondering this too... especially because I live in California and don’t fully understand how this works. For me, once I’ve bought property, the assessed value doesn’t change, it’s essentially locked in. My understanding is that’s not true for other states. So, I’m confused as to what’s being debated, the tax rate or the assessed value?

Assessed value.

I think it's still being negotiated.

 

[deerh]

That was based on the tax assessment - never anything from DVC directly. It is possible there will be a rather significant return from estimated taxes paid but I don't think that number is available until the dues statements are sent out.

So, why did dvcnews.com mention that CCV was $7.32/pt??? Kinda "jumped the gun" on that report of dues. Should have waited till tax assessment
statements go out... Or, am I missing something???

 

[KAT4DISNEY]

So, why did dvcnews.com mention that CCV was $7.32/pt??? Kinda "jumped the gun" on that report of dues. Should have waited till tax assessment
statements go out... Or, am I missing something???

Wasn't it $7.32/pt for this year - 2017?

 

[_auroraborealis_]

Wasn't it $7.32/pt for this year - 2017?

$7.33. Same difference, really.

 

[deerh]

$7.33. Same difference, really.

In September 14, 2017, dvcnews.com indicated that CCV annual dues as billed for 2017 was $7.336. In the same article and the same graph
it showed actual dues with adjusted tax amounts as $5.7204.. That is what I was referring too. How did that disappear? How did they miss the
adjusted rate that bad??? Read the article.. How was/were the taxes THAT much off??

 

[bwvBound]

In September 14, 2017, dvcnews.com indicated that CCV annual dues as billed for 2017 was $7.336. In the same article and the same graph
it showed actual dues with adjusted tax amounts as $5.7204.. That is what I was referring too. How did that disappear? How did they miss the
adjusted rate that bad??? Read the article.. How was/were the taxes THAT much off??

Just FYI, your link only went to the home page and did not bring one directly to the article you wish reviewed.

 

[tjkraz]

In September 14, 2017, dvcnews.com indicated that CCV annual dues as billed for 2017 was $7.336. In the same article and the same graph
it showed actual dues with adjusted tax amounts as $5.7204.. That is what I was referring too. How did that disappear? How did they miss the
adjusted rate that bad??? Read the article.. How was/were the taxes THAT much off??

The $1.8539 rate represents Disney's best-guess of the annual taxes going forward. $.2407 is the amount that OC actually billed for the partial year 2017. I have no idea why the latter rate is so much lower for essentially a half-year operation. But if it held-up, Disney obviously would not challenge and owners will be credited with the difference.

For 2018 DVC kept the same $1.8539 tax estimate. Later this year we'll know how accurate it proves to be.

If DVC had fully taken the partial-year taxes into account, 2017 dues for Copper Creek would have been $5.72 per point instead of $7.33. Assume for a moment that DVC began selling CC with $5.72 dues, only to raise to $7.26 in 2018. I don't think buyers would have been very pleased with that.

 

[tjkraz]

Just FYI, your link only went to the home page and did not bring one directly to the article you wish reviewed.

It's here:

http://dvcnews.com/index.php/dvc-pr...taxes-less-than-estimated-for-wdw-dvc-resorts

 

[deerh]

It's here:

http://dvcnews.com/index.php/dvc-pr...taxes-less-than-estimated-for-wdw-dvc-resorts

Great, thanks! I don't know how to do a link... Little Rusty! LOL

 

[supersnoop]

So, the reduced taxes should be a credit on our statements that brings down the total due? So, it doesn’t show up in these figures, but we’ll be paying a lot less thanks to the lower taxes?

 

[tjkraz]

So, the reduced taxes should be a credit on our statements that brings down the total due? So, it doesn’t show up in these figures, but we’ll be paying a lot less thanks to the lower taxes?

Unless something has been overlooked, yes.

 

[wdrl]

So, the reduced taxes should be a credit on our statements that brings down the total due? So, it doesn’t show up in these figures, but we’ll be paying a lot less thanks to the lower taxes?

Yes, that is what it comes down to.

The ad valorem tax bills are issued by Orange County in November of every year. However, the budget for each DVC resort is established as of the previous December. Thus, when the budgets are established DVC can only estimate what the tax amounts will be.

Once the final taxes are paid in November, DVC computes whether the actual tax amounts are higher or lower than what was estimated. If the actual taxes are higher, then owners will be debited that amount in their next year's annual dues. If the actual taxes are lower, then owners will receive a credit. Based on the 2016 tax amounts, debits of $0.0094 to $0.0211 per point were charged to owners of BLT, BRV, BWV, and OKW. Credits ranging from $0.327 to $1.0420 per point were given to owners of AKV, BCV, PVB, SSR, and VGF.

PVB received the largest credit ($1.0420) because the resort was given a relatively low assessed value of $78,502,970 in 2016. In 2017, its assessed value jumped 135.7% to $185,052,762.

Copper Creek is following a pattern similar to PVB when it comes to its assessed value and estimated taxes. For 2017, Orange County has assessed CCV at only $31,390,840. By comparison, Boulder Ridge has an assessed value of $88,813,000. CCV's assessment should increase in 2018, but at this time DVC can only estimate what the 2018 assessment will be. It appears that DVC takes the approach of estimating the assessment will be high because its better to offer credits to CCV owners.

More information on how DVC ad valorem taxes are computed is available in the article cited above by tjkraz.

 

[suebeelin]

I’m wondering this too... especially because I live in California and don’t fully understand how this works. For me, once I’ve bought property, the assessed value doesn’t change, it’s essentially locked in. My understanding is that’s not true for other states. So, I’m confused as to what’s being debated, the tax rate or the assessed value?

Not true for other states....

 

[erionm]

I think it's still being negotiated.

Disney has sued the Orange County (FL) Property Appraiser over the 2016 assessed values.

http://www.orlandosentinel.com/business/os-bz-disney-assessments-20170613-story.html