BIG jump in dues?!?!

[tiggersgirl]

HI,
I just made my first payment for the year (direct debit), and I noticed that my dues for the BCVs (300pts) jumped from $90 to $110!
I figured it may have something to do with the reconfiguration/transportation issue but I didn't expect it to jump that high!
Have the dues ever had that huge of an increase?
According to my calculations, $4.17 x 300=$1251 divided by 12=$104.25.
Am I calculating wrong?
Thanks!

 

[PamOKW]

Originally posted by tiggersgirl
Have the dues ever had that huge of an increase?
According to my calculations, $4.17 x 300=$1251 divided by 12=$104.25.
Am I calculating wrong?
Thanks!

To get the exact amount you owe, you need the actual dues figure for BCV which goes out to 4 decimal places (all the resorts do but we round it here for discussion). In addition, the DVC resorts underpaid the property tax for 2003, your dues statement should detail the amount that has to be made up for 2003. I think you'll also see at the bottom of your statement the actual amount that will be deducted from your account. In my case, the January payment is higher than the payments for Feb-Nov. and the Dec. payment will be a little less.

The dues the past two years went up at the DVC resorts at a greater rate than they have in about 8 years. The driving forces were a drop in the interest rate DVC is earning on the invested money and an increase in insurance costs for both property and for employee health benefits. I believe the annual meetings also mentioned an underfunding of the employee pension plan that also has to be made up (this is also a result of decreased interest rates). And, as mentioned, property taxes went up as well. Hopefully, the economy is turning around and the dues will not have to go up as dramatically next year.

The BCV dues went up about 5%. I think if you check your statement you'll find that future deductions will be less than January's $110.

 

[DebbieB]

My BWV dues for 250 points is $95.82 for January and $88.57 for the remaining months. There was an extra $7.25 charged in Jan for the underpayment of 2003 taxes. So your remaining payments should be less.

 

[tiggersgirl]

I appreciate the explanations! I guess I should look around for a statement!
I just checked my bank statement, I'm sure it's around here somewhere!

 

[DVCDAVE]

DEBBIEB is correct. This month (January) there was a one time adjustment for underpayment of property taxes for last year. Obviously, the increase was more then DVC accountants estimated.

 

[PamOKW]

Originally posted by tiggersgirl
I guess I should look around for a statement!
I just checked my bank statement, I'm sure it's around here somewhere!

Once you find it, put it with your tax documents. If you itemize, it will give you the actual real estate tax you paid in 2003 to use for deductions.

 

[Donny55]

Yep, you are very correct, dues have gone way up the past two years.

The dues at OKW are up almost 9% this year alone.

 

[disneyberry]

hi tiggersgirl, if you check out the link in my sig, you can take a look at some dues history.
the figures in the tables are based on dues estimates that are announced every year in Dec, so unfortunately don't include any property tax rebates, thus are not the exact increases/decreases.

 

[PamOKW]

Originally posted by Donny55
The dues at OKW are up almost 9% this year alone.

OKW dues went up 6%. 2003 was $3.4944 and 2004 is $3.6766. Of course, that's before adding in the additional real estate payment which does boost our actual cost above 6%.

 

[BuffaloDisney]

my dues paid (mostly OKW)
2003 $1048.15
2004 $1139.94

that is an increase of 8.8%
I may add on in the future but the big increase in dues the past two years have lowered my desire to add on right now.

Has the increase in dues impacted anyone else to buy or add on to DVC.

 

[DebbieB]

Your 2003 total probably includes a credit for overpayment of 2002 property taxes.

 

[Ralph&Pam]

Originally posted by DebbieB
Your 2003 total probably includes a credit for overpayment of 2002 property taxes.

Not only was there a credit in 2003 for overpayment of 2002 property taxes, but the 2004 payment also includes an added amount to make up for the underpayment of 2003 taxes. (For those of us paying dues monthly, the January payment includes this tax shortfall as a one-time lump sum amount.) Thus the apparent increase is bigger than the actual per point increase percentage.

Ralph