Property Taxes from time share ownership?

[saceo17]

Could someone give me an idea on the affect of owning about 150 points would have for one's property taxes?

Thank you in advance!!!!

 

[browniemtb]

Not sure what you may be referring to? What portion of the dues are for property taxes? What portion of the dues are tax deductable?

 

[Dean]

The relatively small amount attributable to RE taxes are deductible for federal assuming you can itemize.

 

[saceo17]

I suppose I'm showing my ignorance here, but would an owner have to pay any additional taxes as an owner of DVC points?

Based on the responses, I take it that a small amount of the Maint fees/dues could be deducted from income taxes....not paying additional taxes?

Is that correct?

Thanks again!

 

[Let'sGoAgain!]

Do you live in a state with a Personal Property tax? (Like on luxury cars, jewelry, etc.) Is this what you're referring to?

 

[RobDoc]

Property taxes for DVC resorts will be estimated each year and included in the maintenance fees. Any variation in that estimate will be settled in the fees for the following year. Members will NOT get a report from either the county or from DVC regarding the property taxes (it will be included as a line item in the maintenance fees, but no individual report will be provided).

You should certainly check with your tax advisor, but you may be able to claim the taxes paid as a deduction on your federal filing.

 

[Dean]

I suppose I'm showing my ignorance here, but would an owner have to pay any additional taxes as an owner of DVC points?

Based on the responses, I take it that a small amount of the Maint fees/dues could be deducted from income taxes....not paying additional taxes?

Is that correct?

Thanks again!

No additional taxes, a portion of the main fees include RE taxes and that portion, and only that portion, is deductible. Some can also deduce interest if they finance giving a very minor benefit there as well.