Annual Assesments

[tampapirate]

My annual assesment for 450 points went from$1,600+ to $1,900+. What is up with that?! That was not my understanding when I bought in 2002.

 

[tjkraz]

Which resort?

It's possible that you overpaid dues in 2003, leading to a credit being issued throughout 2004. I've read here that when DVC overcharges in one year (often due to incorrect property tax estimates), the overcharge is "refunded" via a credit to dues the following year.

The removal of that credit coupled with the 2005 increase may explain the difference.

Another possibility would have been UNDERPAYMENT of 2004 dues due to a low property tax estimate for '04. When you underpay, DVC makes-up the difference the following year. Part of your $1900 for 2005 could be additional 2004 dues charged once the property tax values were finalized.

You probably want to dig out your assessment from 2004 and see how it compares to the 2005 document you recently received.

EDIT: The highest annual increase among the resorts was 5% at OKW. So, the base increase from '04 to '05 should have been well under the 15% cap specified in our contracts. There has to be some other reason for the increase you noted.

 

[OKW Lover]

My annual assesment for 450 points went from$1,600+ to $1,900+. What is up with that?! That was not my understanding when I bought in 2002.

If you didn't get the annual dues statement that listed all the line items that go into the calculation of the dues, you should contact member services for another copy. It lists each of the changes.

Also, what understanding did you have about dues?

 

[PamOKW]

Without more detail, it's hard to tell what's going on. 450 points at $1,600 would be $3.55 per point. The lowest dues in 2004 were $3.68 at OKW so something is funky with that number. 450 points at $1,900 would be $4.22 per point. I'm not sure which resort is at approximately that rate.

 

[DebbieB]

There was something wacky about the increases members at BCV were posting a week or so ago. I don't know if someone figured it out. The 2005 payments looked right but the 2004 payments looked low. Perhaps a tax credit in 2004?