DVC Tax Question

[DizDays]

I'm not sure if this is the right forum, but I know it's the most active. When my DH and I were getting the DVC sales pitch from our Guide, he mentioned we're buying real estate and could deduct the property taxes. Is this true? I can't imagine it would amount to much of anything (we only own 250 points). But, if it is true, should we have received something in the mail with the details?

I would appreciate any information anyone might have on this topic.

thanks!

 

[ericamcl]

i believe it IS deductible- every little bit helps
we did get a statement in the mail - but i think you can also access the information on the dvc member website.

 

[castleri]

It is on the annual statement of maintenance fees. There is a listing of
estimated taxes you paid and then one of the actual taxes you paid.

 

[ammo]

Yes, they may be deductible depending upon your circumstances. But be careful -- only the property tax portion of DVC dues (not the operating expense or capital reserve portions) is deductible. Your annual dues statement will detail the breakdown.

Looking at my 2011 statement, it appears that property taxes are a little less than 18% of my annual dues. That percentage probably varies a bit from one property to another, but the vast majority of dues are not deductible.

 

[metzger01]

It is deductible, but you are correct in that it doesn't add up to much. The property tax rate on SSR for 2010 was 1.0153 or just a fraction over $1 per point. For 2011, Disney estimates a rate of 1.039.

i.e. 350 SSR points, dues @ $4.5123 per point = $1579.31, of which Disney estimates the taxes due in 2011 of $1.039 per point, or $363.65 (the actual taxes paid will show up on the statement you receive at the end of the year).

 

[jerseygal]

It is such a small percent of the annual maintenance fee though..
Yes, that portion of the maintenance fee is deductible....

As for the salesperson, "slick"....not a deal breaker in my opinion!