Do we pay any property taxes that we can deduct?

[pnelson]

Are any part of our dues for property taxes? How do I find out how much of 2003 dues were property taxes for Beach Club?

 

[mom2alix]

You should have received a statement in the mail a few weeks ago detailing what your dues would be for next year. At least that's when I got mine.

It also told on it how much we had paid towards taxes and how much the taxes turned out to be. I think we had to pay a little extra this month because they had figured too low last year on their estimate.

Anyway, that's the info I'm taking to our CPA. Hope this helps!

 

[zulaya]

I could have sworm we got the equivalent of a 1098 last year. Oh well, I guess I better go find that sheet so I can add it in.

 

[Happy Birthday Cat]

I received my 1098 forms in the mail yesterday.

HBC

 

[PamOKW]

If you are still paying off a Disney loan, you will get the tax form. All others need to find the property tax amount on the annual dues statement. It is broken out.

 

[pnelson]

I did get a 1098, but I thought that was for interest only?? Is there a property tax amount on there?

 

[RobDoc]

You will receive a 1098 only if you have a mortgage thru DVC. The 1098 will report the interest expense paid on the loan- it will NOT report any property taxes paid. (Disney is the entity that actually pays the property tax). Owners can claim the property tax amount paid, but will have to figure it from the annual fee statement sent out in Dec. You will NOT get a 1098/1099 for taxes paid.

Just mulitply the actual tax paid for 2003 (from your dues statement) by the number of points owned at each resort and let your tax preparer advise whether you can clain the deduction.

Enjoy!

 

[MELSMICE]

DH doesn't remember getting an annual dues statement in December. How do we go about acquiring another one?

 

[lesroi]

OK all, I think my husband threw out the form stating how much of the dues for our 400 points at BWV went toward property tax.

Anyone have a clue where I can find this info this weekend? I know MS is closed but maybe someone here has a figure for how much per point at BWV is property tax?

We did get the forms today for our mortgage so I have our interest figure.

I just looooooove tax season!

Tracy

 

[TroyWDW]

Originally posted by lesroi
OK all, I think my husband threw out the form stating how much of the dues for our 400 points at BWV went toward property tax.

Anyone have a clue where I can find this info this weekend? I know MS is closed but maybe someone here has a figure for how much per point at BWV is property tax?

We did get the forms today for our mortgage so I have our interest figure.

I just looooooove tax season!

Tracy

The 2003 Actual Property Taxes for Boardwalk Villas was $0.8050 per point for 365 days.

Assuming you owned for the entire year, 400 points x $0.8050 = $322.00 in actual property taxes

The 2003 Estimated Property Taxes for Boardwalk Villas was $0.7760 per point for 365 days. Hence, you actually paid $310.40 in 2003 (400 points x $0.7760 = $310.40).

Your 2004 Annual Dues Statement would have shown a charge for the underpayment ($322.00 - $310.40 = $11.60) on the 2004 Billing.

Hope that helps...

Troy


P.S. The 2004 Estimated Property Tax is $0.7954 per point