Membership Property/School Taxes

[Gigashadow]

This is a "direct/indirect" question as I feel the amount people pay for property and school taxes could and do effect the overall decision on how many points someone would consider to purchase after adding how much thier annual dues add up to. There are several other factors that also add to a point amount decision, but I know my yearly taxes was a major factor in how many points we thought was "reasonable" when adding together with the mortgage.

Guess I am interested in seeing what the poll produces from the rest of the DIS membership.

We pay $8500.00 in annual taxes

 

[Chuck S]

I'm not sure I understand your question...are you asking what the property taxes are on the home we live in, or on our DVC points? Nor do I understand why taxes you pay on your "real" home would effect your DVC points, since even with the maximom points (2000) at any one resort you be looking at somewhere between $7K and $8.5K per year. If you could afford 2000 points, I'd think you'd easily be able to afford the dues/taxes.

 

[Gigashadow]

Chuck S:

Example:

Primary Residence Taxes = $708.33 per month($8500.00 per year)

DVC Dues = @$162.40 per month ($1948.80 per year)


That's $870.40 per month without the mortgage payment/utilities/food/insurances/car payment/ete.

Lets say I was making the same annual salary in CO and my primary residence taxes was 1/2 what I pay now, I would be able to consider @1500 DVC points instead of the 480 I do have - If I wanted that many, without changing a thing in my life.


I wanted to see the "average" the DIS membership pays in primary home taxes. The actual property tax included in the DVC dues for my 480 points was only $218 out of the $1949 paid for 2002 dues.

 

[Lisa F]

The chances of moving to a place that has half the cost of living while still making the same salary are pretty slim. It does happen, just not very often, so it's not really that fair of a comparison. Maybe a better poll would be what %age of gross income goes toward housing and a corresponding poll as to what %age of gross income goes to DVC.

Lisa

 

[tiberius]

One of the problems in comparing property taxes is that taxing is not equal across the United States, or acroos the globe. Living in Texas I pay no state income tax and a smaller sales tax than many states, but I do pay $3.35+ per $100.00 of home value (approximately 51% to the local school district). I do not know how that compares aross the country, but I believe it has to be a good bit higher than many other places.

 

[Richyams]

The chances of moving to a place that has half the cost of living while still making the same salary are pretty slim.

We amost did this, in fact we came very close.

Using monster.com relo section and another site my wife found, the cost of living in Weston Florida is about 60-65% the cost of living in Orange County, New York. She took a job with a 30% higher salary.....actually, we probably passed that lofty goal.

 

[Gigashadow]

My poll question was "based" on previous polls. All the polls are "vague" when it comes to complete specifics. But, past polls on incomes/ages/family sizes/points owned/how often members goto thier home resort yearly - have shown that a good part of the DIS DVC Owners all fall into the same brackets as I did. Thus, my poll is just an addition to information from other polls for a overall "fuzzy" picture.

 

[Lisa F]

Originally posted by Richyams
Using monster.com relo section and another site my wife found, the cost of living in Weston Florida is about 60-65% the cost of living in Orange County, New York. She took a job with a 30% higher salary.....actually, we probably passed that lofty goal.

My husband did something similar when he left the air force. His salary more than doubled but we moved to houston where the cost of living is super low. I still don't think this is the "norm."

Gigashadow, didn't mean to sound like I was picking apart your poll. I just think % of income for housing costs would be more accurate. Someone who only spends 10% of gross for housing obviously has a lot more disposable income than someone who spends 38%

Lisa

 

[Gigashadow]

Lisa F, I thought your suggestion was an excellent one and didn't want to post a poll that you formulated. I think some members would be suprised at the numbers after they calculated thier figures .

 

[AEN]

Wow! This is a lot of discussion for a simple question. If you don't want to answer, then don't. That is the one thing I like about this board is the free form.

 

[anniet]

What about those of us who don't own property and therefore don't directly pay property tax?

I realize that's like putting the cart before the horse for most of you, but there are a few of us who fall into that category.

I think we may skew the poll.

 

[Caskbill]

One advantage to living in small-town America like we do is very reasonable property taxes.

Without giving actual figures, I did calculate last year's taxes compared to the basic Real Estate value of the house (should we sell it today), my taxes come out at $0.46 per $100 of real value.

(The tax rate is actually higher than that, but the valuation they use for the property have a number of deductions applied and doesn't represent the actual market value of the house)

And yes, paying less than 50 cents per $100 value definitely can help make DVC more affordable. Our OKW dues at about $1125/year is more than I pay in property taxes.

But what one hand gives, the other takes away: The State takes their share with our State Income Tax. (Indiana has a flat income tax rate with only a small standard deduction given)

 

[JulesMom]

We live in a suburb of Houston. We pay really high property taxes.

$7000

 

[perdidobay]

We pay $3800 per year in property tax for our primary home,
$3600 per year for our second home. Both states ( TN and FL ) have no income tax. Total of both homes monthly payment & taxes& insurance comes to 25% of our monthly income.

 

[Wes]

The question is unclear as to what "Home" is. I cannot believe that there are that many people paying such high property taxes on their Disney "Home" (which is how I understood the question to read, in the absence of any further clarification).

I think some people must have taken the question to refer to their residence.

Boardwalk's 2003 dues charged property tax at 77.6 cents a point. So to generate a property tax of $2,000 would take 2577 points.

 

[Cruelladeville]

I understood the question to be taxes on your primary residence would affect your ability to pay maintenance fees, and therefore, would affect your decision to buy more points. And, in fact, it did affect my decision to buy more points. I live in Michigan and we have it constitutionally mandated that taxes can only go up by the cost of living, and they were slashed by 20% at the same time. So when my tax bill is due it always gives the assessed value of my house if I sold it vs. what my tax bill is. So the taxes could go up 50% on my lakefront property, I still only pay 3% this year. and we only pay 4.2% income taxes, too. In exchange for that, the voters voted in a 6% sales tax, and 24 cents per gallon on gas. And, our republican governor left office in January, leaving behind a bazunga budget crisis that slashes every budget in Michigan, including schools, in exchange for lowering the income taxes we paid while he was in office. Every school district in Michigan is laying off teachers, thousands of them, so taxes aren't a good subject to bring up if you are visiting us this summer. And, due to this, I turned down an add-on at OKW, because I don't know what the long term effect of our problems will be.