Is Anyone Posting Real Time Info From the DVC Members Meeting?

[DebbieB]

I agree. So it has nothing to do with spreading out the costs over the number of points at each resort? Another words, I thought SSR was kept lower because it is a larger resort and has more members to absorb the costs of running the resort. How does occupancy affect property taxes?

When the tax assessments are calculated, they look at recent sales. The assessed value of the resort has gone down because of lower sale prices. Just like if you built a home for $200,000 and ten years later it sold for $150,000, the new owner could apply for a tax assessment reduction.

 

[LisaS]

Why would number of resales affect dues?

Part of our dues includes property taxes and the amount of those taxes is based on the value of the property. Apparently current resale prices are used to help determine the value of the property so if resale values are high they push up the property taxes. If resale prices drop then property taxes will go down. There was some discussion a while ago about this but I can't find the thread.

 

[BWV Dreamin]

Per DVC Mike who was at the meeting:

6 - why did the properties I own at go up so much, but the properties I don't own didn't go up as much?

BLT increase is due to Property tax and popularity of the resorts, which influences prices

VGV was due to health care costs that bumped up labor costs.

OKW and SSR have lower property taxes. Taxes are based on resale values. OKW and SSR had a lot of cheap resales
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Again I ask what does occupancy have to do with property taxes?

 

[LisaS]

Per DVC Mike who was at the meeting:

6 - why did the properties I own at go up so much, but the properties I don't own didn't go up as much?

BLT increase is due to Property tax and popularity of the resorts, which influences prices

VGV was due to health care costs that bumped up labor costs.

OKW and SSR have lower property taxes. Taxes are based on resale values. OKW and SSR had a lot of cheap resales
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Again I ask what does occupancy have to do with property taxes?

At the resorts that share services with a hotel (BLT, BWV, etc.) the portion of the shared expenses for things like transportation, front desk staff, etc. are determined by the number of check-ins or number of guests or some such criteria. If BLT is nearly always at full occupancy then it pays a larger portion of shared costs (with the CR) than if it had lots of empty rooms.

This is separate from the property tax issue but both things can affect dues, as well as other things like maintenance costs.

ETA: I would imagine that maintenance costs also go up as occupancy goes up. More guests means more wear and tear.

 

[KAT4DISNEY]

Per DVC Mike who was at the meeting:

6 - why did the properties I own at go up so much, but the properties I don't own didn't go up as much?

BLT increase is due to Property tax and popularity of the resorts, which influences prices

VGV was due to health care costs that bumped up labor costs.

OKW and SSR have lower property taxes. Taxes are based on resale values. OKW and SSR had a lot of cheap resales
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Again I ask what does occupancy have to do with property taxes?

My interpretation of the above comment is the popularity is being stated as a reason for supporting higher resale prices at BLT compared to other resorts rather than being a direct factor in property taxes. It's indirect via it's affect on resale.

 

[BWV Dreamin]

Ok this makes sense. Has this always been the case ?

At the resorts that share services with a hotel (BLT, BWV, etc.) the portion of the shared expenses for things like transportation, front desk staff, etc. are determined by the number of check-ins or number of guests or some such criteria. If BLT is nearly always at full occupancy then it pays a larger portion of shared costs (with the CR) than if it had lots of empty rooms.

This is separate from the property tax issue but both things can affect dues, as well as other things like maintenance costs.

ETA: I would imagine that maintenance costs also go up as occupancy goes up. More guests means more wear and tear.

My interpretation of the above comment is the popularity is being stated as a reason for supporting higher resale prices at BLT compared to other resorts rather than being a direct factor in property taxes. It's indirect via it's affect on resale.

 

[KAT4DISNEY]

Ok this makes sense. Has this always been the case ?

The higher visitor count in the BLT rooms was also given as a reason for the large percentage increase last year. One would think that it had already been accounted for at that time.

 

[DVC Mike]

The new meeting format was shorter, which was good.

Outside of the shots of the completed model rooms, and the upcoming revamp of the DVC member web site, there wasn't much breaking news.

Tim tweeted and I posted live on another forum (would have been too difficult to try posting to multiple discussion boards).

While I miss the general Q&A a bit, I was growing tired of the same questions being asked every year.

 

[Deb & Bill]

That curved seating with the tiny round table looks rather small and wasted space (GFV dining area).

 

[LisaS]

The higher visitor count in the BLT rooms was also given as a reason for the large percentage increase last year. One would think that it had already been accounted for at that time.

I wonder if it was due to BLT still being actively sold during that time. As sales progressed and more inventory was declared, the number of rooms available to members increased which would shift more of the shared costs to DVC members' dues. Just speculating here...

 

[LisaS]

That curved seating with the tiny round table looks rather small and wasted space (GFV dining area).

I thought so too. I expect they will put a bigger table in there at some point. The furnishings in the AKV model rooms changed quite a bit from what was first shown.

 

[lilpooh108]

Can someone summarize the news about GFV? Is there a picture of the model other than Tim's twitter pic?

 

[Sammie]

Can someone summarize the news about GFV? Is there a picture of the model other than Tim's twitter pic?

I don't know why they can post a transcript of the meeting and any photos shown on the Member website.

 

[Doug7856]

I don't know why they can post a transcript of the meeting and any photos shown on the Member website.

I agree!

Overall, it sounds like some positive changes.

 

[lilpooh108]

I don't know why they can post a transcript of the meeting and any photos shown on the Member website.

My bad have they done that?

 

[Sammie]

That curved seating with the tiny round table looks rather small and wasted space (GFV dining area).

And those lovely generic white dishes,

 

[Sammie]

My bad have they done that?

No, I mean wouldn't that be nice of them and not sure why they don't

 

[DebbieB]

No, I mean wouldn't that be nice of them and not sure why they don't

My guess - since there is a Q & A with unrehearsed questions, they don't want a written record that could be used against them in the future.

 

[tjkraz]

Regarding property taxes, you have to consider both sources of sales: direct and resale.

DVC still sells BLT direct for around $160 per point. Resales are available but not plentiful and prices average around $90 per point.

Meanwhile SSR has a lot of resale transfers at $50-60 per point and minimal direct sales around $100 per point.

To simplify, overall BLT pricing is either stable or still trending upward, thus the county can still justify raising taxes.

SSR pricing is trending downward with cheap resales dominating, thus overall value is down and taxes are lower.

 

[Sammie]

My guess - since there is a Q & A with unrehearsed questions, they don't want a written record that could be used against them in the future.

Then just shared the part before that, I am not really interested in the Q and A anyway.