Can someone explain the dues?

[Limmer]

Are these dues I keep hearing about per month or per year? What are they for ? Maintenance? I know I am asking a lot of questions but the package I requested seems to be taking forever. It has only been two weeks but I am anxious.

 

[PamOKW]

Dues cover three things....Maintenance, Capital (replacement of roofs, furniture, painting, etc.), and Real Estate Taxes on the property. They are assessed once a year and are a certain amount per point that you own. Dues must be paid by January 15 of each year. However, you can also elect to pay them monthly with an automatic debit and spread them across the year.

Dues are based on where you own your points. Here are the expected dues for 2002.

OKW = $3.22
BWV = $3.92
VWL = $3.80
HH = $3.49
Vero= $4.17

As an example of what they cover, here is the breakout of the OKW dues for 2002. Operating - $2.0671
Capital - $0.3884
Taxes $0.7608
Total $3.2163

 

[Caskbill]

Pam explained it well, but I might just give this example.

If you owned 200 OKW points, then your dues for 2002 would be $644 (Or 3.22/point times 200 points).

This $644 is due Jan 15, 2002. You may pay it all at once, or you may elect to have it automatically debited from your checking account throughout the year. If you do this, then you would be paying approximately $53.77 per month, Jan 2002 thru Dec 2003.

 

[Mary Lou in Ohio]

We just joined this year, so I haven't had to pay dues yet. We would like to pay them all at once. Do they mail you a bill? If so, about when does this arrive? If I change my mind in the future about paying all at once, can I switch over to the monthly payments?

Thanks!

Mary Lou

 

[PamOKW]

MaryLou -- The actual bill comes just about the same time as your IRS forms. That's right around Christmas. If you opt to pay in a lump sum you have to get the payment in fairly soon to meet the Jan. 15 deadline. If you were taking a DVC trip in early January, they must have your payment before or at check-in. I'm not sure when the deadline is for changing over to monthly payments but I assume it would probably be sometime in November to give them time to set everything up. MS Accounting could fill you in on the details.