Is there sales tax on a DVC purchase?

[Christina78]

We are <i>very</i> close to buying at BCV (from DVC direct, not resale) and were wondering what the total costs will come to. If there is sales tax is it 6% or 11%? Are there any other fees - closing costs or legal fees? What about real estate taxes? Is that included in the $3.77 per point per year maintenance fees? Thank you in advance for your help, Disers are always so quick with answers!

 

[Cruelladeville]

Your closing fees are part of your purchase price, so I guess the answer is a qualified yes--you aren't paying any extra money for closing, though. Yes, you will pay maintenance, and your taxes are part of that, but it's usually sent as a separate bill, unless you are going for monthly withdrawl from your checking account. That's all part of the $3.77 per point. If I remember correctly, you pay a filing fee, which is figured into the cost you finance, and the tax you pay is just state tax, I think. When you actually use your points to check in, there are no taxes, resort or otherwise, because you paid that when you purchased. Once you have committed to buying, you can actually make a reservation with your points, usually within a few days of when they receive your deposit. You can't actually travel until everything is completed and they have their money, but it's always a relief to actually have a confirmed reservation in hand!

 

[Christina78]

Thanks for your answer! Do you know what the filing fee is? Not exactly, but a ballpark - are we talking $30 or $300? And do you know what the state tax is? 5%? That's applied to the entire $16,000 (200 pts X $80) we would be spending? I'm just trying to come up with a figure to present to DH. If what I tell him is lower than what we pay, he's going to think I was trying to trick him!

 

[Cruelladeville]

Yes, the sales tax is on the entire purchase price of the points, but don't forget that you will never pay sales tax again on your room! My DH loves that part so much that he says it's worth every penny of the purchase price I believe it's 6%. You can always call your rep--if you have one--and he could give you the final price, so you'd know exactly how much you are going to have to smile when you present this to DH. If you don't have a rep (guide), you can call 1-800-800-9100 and ask your questions. If you want a nice guide who won't try to pressure you, mine is the best. His name is Ron Brumbaugh, and I think he's great! He has handled our two contracts, two add-ons, my daughter's contract, and my brother's contract. As you can tell, we are quickly becoming a Ron Brumbaugh family

 

[CarolMN]

I don't remember paying anything more than the price per point and of course the annual maintenance fees, when we bought directly from Disney. If there was sales tax (and it sounds odd to me to have sales tax on a real estate transaction), then it was included in the price per point. Don't remember paying extra for any other fees, either.

Real Estate taxes are included in the annual dues.

 

[GAIL HAYDEN]

I also don't remember a sales tax, all we paid was the price per point plus interest for our contract. Of course, we do pay maintenance fees and real estate taxes monthly.

 

[ripleysmom]

Christina there will be no NY sales tax or filing fees on your purchase. RE taxes are included in your maintenance fees.

 

[drusba]

Let's clarify. The price per point you pay is all you pay for the sale. That price itself includes all closing costs so there is nothing extra. Closing costs include real estate filing fees, real estate transactional taxes (the real estate form of a sales taxes), and title insurance, but again those are already included in the price per point Disney is charging you. Those closing costs make up about $500 of the total amount you will pay Disney -- note that number does not vary much in relation to number of points you buy.


As a member you will be responsible for annual dues, currently $3.77 a point per year for BCV. You can have those taken from your checking account monthly or instead choose to pay them annually at the beginning of the calendar year. If you choose to pay via monthly withdrawal, they will begin taking out dues about a month after the closing. If you choose to pay annually you will get a bill about a month after closing for the dues you owe for this year (you pay a pro rata portion of the total annual dues based on the date of your purchase; for example assume you purchase October 1; you would then owe for 2002 dues for October through December or 1/4 of the total dues for the year. Your annual dues cover all annual costs for the resort --such as for running and maintaning it, for property taxes, for property and liability insurance, for repairs, for reserves for future renovations.

 

[Disney Dana]

Christina78


Multiply the price per point buy the number you buy. Thats all you pay!!! Trust me many purchases

 

[Christina78]

Thanks everyone. I know I can contact a sales rep and that they are reputed to be very nice and not pushy but I can't shake the image of some sleazy guy who is going to try to fast talk me and tell me what I want to hear. I would rather go into the pitch being informed.