DVC Property Tax ?

[minnie2]

We are looking into buying a DVC at AKLV and i ahve been talking to a few people I know who have timeshares and wanting to know things like was anything a surprise after you bought your timeshare. Well some one mentioned the biggest shock was that they now have property tax!

With DVC's do you pay property tax or is DVC different then a reg timeshare? We are looking into getting 200 points...

 

[disneynutz]

We are looking into buying a DVC at AKLV and i ahve been talking to a few people I know who have timeshares and wanting to know things like was anything a surprise after you bought your timeshare. Well some one mentioned the biggest shock was that they now have property tax!

With DVC's do you pay property tax or is DVC different then a reg timeshare? We are looking into getting 200 points...

Property tax is a component of and is included in your annual dues.

 

[jimmacmn]

All DVC owners pay property taxes. The taxes are collected in your annual dues. We own 310 points at OKW and 170 at SSR and the combined taxes for both of those properties are $454.50 for 2008. The tax portion of our dues is about 22% of the total dues owed. The taxes per point are about $0.05 higher at SSR than OKW and I would presume AKL would be a little higher than at SSR

 

[minnie2]

So when you get the paper when you are thinking about buying and they say for x # of points your dues are x that x figure includes your property tax or will I find out that number once I sign the papers?

ei: @SSR
200pts is 20,800.00 and dues are $842 the $842 figure includes my taxes or will it be $842 + taxes?

 

[JaxFLBear]

Any rate you see for annual dues will include property taxes. For 2008 at AKV, the estimated property taxes are .9725 per point. Total AKV 2008 dues were 4.7132 per point.

 

[jimmacmn]

So when you get the paper when you are thinking about buying and they say for x # of points your dues are x that x figure includes your property tax or will I find out that number once I sign the papers?

ei: @SSR
200pts is 20,800.00 and dues are $842 the $842 figure includes my taxes or will it be $842 + taxes?

The dues for SSR are made up as follows: Capital Reserves Budget $0.9800
Operating Expenses $2.2576
Property Tax $0.9725
Total per Point $4.2100

200 Points at $4.21 per point = $842.00

Taxes are included

 

[minnie2]

Great! Thank you! I guess I am just trying to make sure there are no hidden fees that we will be hit with once we sign up.

I have heard of so many people get a time share then instantly all these extra fees are added.

It looks like Disney is very upfront with things. Gotta love the mouse!

 

[AlexTina]

Okay maybe a stupid question, BUT, are the property taxes tax deductible?

 

[jimmacmn]

Okay maybe a stupid question, BUT, are the property taxes tax deductible?

Yes

 

[OKW Lover]

Okay maybe a stupid question, BUT, are the property taxes tax deductible?

You may need to check with your tax professional about this. Usually they are deductible (assuming you itemize deductions) but there are some situations where they wouldn't be.