Quick question about $$

[RickinNYC]

Hi gang (and future fellow DVC owners),

Several of you know that my partner and I will likely be purchasing a DVC next fall of '05. I understand the point system, the months, how many points to buy, purchasing through Disney vs. a reseller. I'm now curious to know what the monthly maintenance fee is. Is the fee effected by how many points one owns?

If you would all please let me know what you pay (a PM would be fine), please let me know!

As always, thanks!

 

[PamOKW]

The yearly dues include maintenance, capital and real estate tax. They are assessed "per point" and are different for each resort. The budgets are set at the annual meetings in December and dues are billed around the end of the year. They are overdue in mid-February. You can pay in a lump sum, lump sum on a credit card or you can have it deducted monthly from a bank account (with no interest charged).

The "per point" rate goes out to 4 decimal places but we tend to round them off here. The portion that is paid for real estate tax may be deductible on your income tax.

SSR - $3.80
OKW- $3.68
HH - $3.86
BCV -$4.17
VWL- $4.25
BWV- $4.25
VB - $4.67 ($3.67 pre-1996)

 

[Lesley]

Dues are generally around $4 per point, per year. You can pay dues in a lump sum in January every year or have a monthly debit.
With 200 points our monthly dues debit is about $70 right now.
Each resort has its own rate and they can and do increase (though ours went down one year....).

Someone will probably be along shortly w/ the exact current cost per point of dues for each resort.

 

[RickinNYC]

Does this $3.80-4.67 per point include the real estate tax as well?

And thanks for the info thus far!

 

[tjkraz]

Yes, property tax is included. In most cases, the property tax component is deductible on your Federal Income Tax return.

 

[POOH&PIGLET]

Originally posted by RickinNYC
Does this $3.80-4.67 per point include the real estate tax as well?

And thanks for the info thus far!

Yes it does.

 

[DBBN]

For very detailed information and historical data on maintenance fees for each of the resorts access this thread.

disneyberry was kind enough to compile it for us.

 

[RickinNYC]

Thanks for all the info folks! I honestly thought monthly fees would amount to about $200 or more a month and I thought, "Well, if that's the case, why even buy a membership when I'd spend that money on a trip anyway?"

So far so good!

 

[dianeschlicht]

Rick, have you decided on resale or SSR? You guys are young enough that SSR might be enticing for the extra 12 years.

 

[spiceycat]

no the property tax in NOT include in the per point figure. It is a deductible from your income tax and is not a fee.

 

[tjkraz]

Originally posted by spiceycat
no the property tax in NOT include in the per point figure. It is a deductible from your income tax and is not a fee.

Huh?

I thought the question was whether all resort property taxes are included in the annual dues that Pam posted. Yes, they are, and the property tax is payable by the member.

Although I do agree that most people would be able to take the property tax component as a deduction on their Income Tax return. Property taxes will only be a small portion of the full annual dues paid.

 

[dianeschlicht]

Originally posted by spiceycat
no the property tax in NOT include in the per point figure. It is a deductible from your income tax and is not a fee.

Yes, property taxes ARE included in your maintenance fees, which is what the question was.

 

[PamOKW]

As an example, here is the actual breakout of the 2004 OKW dues

Operating 2.4484
Capital 0.4323
Real Estate Tax 0.7959
Total - $3.6766

 

[PamOKW]

To give you even more information -- the real estate tax in the yearly dues is an estimate of what the actual cost will be. So, 0.7959 is an estimate of the 2004 taxes. When we get our actual bill at the end of December each year, there is a line that gives the "actual" real estate charge. You need to hold on to this statement if you plan to deduct the real estate taxes from your income taxes. It gives you the actual number.

Usually, DVC overestimates the taxes and they deduct the difference from the total amount due for the following year. Unfortunately, this year many of the resorts received a "tax due" notice and had to pay a little more to cover the shortfall in 2003 tax estimates.

 

[RickinNYC]

Originally posted by dianeschlicht
Rick, have you decided on resale or SSR? You guys are young enough that SSR might be enticing for the extra 12 years.

We'd likely be more interested in either Wilderness Lodge or the Boardwalk. Two reasons: first is they are our absolute favorite resorts and second, I'm not sure I'm going to like SSR. Years ago, I had stayed at the Fairway and Treehouse Villas and I didn't like how spread out they were. Plus, I like a lobby!

And thanks for the compliment but we're not THAT young! Joe and I will both be 38 on 8/22 and 8/28 respectively.

 

[wtpclc]

Yeah for August birthdays!!! Who says you're not young????

By the way, congrats on your future purchase!!!

 

[dianeschlicht]

Originally posted by RickinNYC
We'd likely be more interested in either Wilderness Lodge or the Boardwalk. Two reasons: first is they are our absolute favorite resorts and second, I'm not sure I'm going to like SSR. Years ago, I had stayed at the Fairway and Treehouse Villas and I didn't like how spread out they were. Plus, I like a lobby!

And thanks for the compliment but we're not THAT young! Joe and I will both be 38 on 8/22 and 8/28 respectively.

LOL, it's all in the perspective, Rick! I have a 35 year old DD, so you seem young to me!

Have you stayed at BWV or VWL before? Or even in those regular hotels? If so, that might tell you where you might like to call home. I love visiting WL for decor, lobby and Artist Point (one of our favorite dining spots), but the dark decor bothers me a bit. I love the location of BWV but just can't get into the decor or room sizes there either. I think our first DVC experience at OKW kind of spoiled us for the rest. That's the great thing about DVC, we have lots of choices. I added on two nights in a studio for our Oct. GV trip, and had a choice between BWV, BCV, SSR and OKW. I chose SSR. We'll see what I think of it.

 

[ohanafamily]

Hi RickinNYC, I will be more than happy to PM you and joe any details about DVC, what we did etc.

If you work it out, I think SSP is a little better deal, unless you find a really good one on the resale market. I have some spread sheets where I built in the depretiation of the points into the figures. Right now, a new purchase costs right at $6.00 per point per year....wheich is what most of the stuff I found was when it started. With the SSp, you have the added years.....

Oh, Happy Birthday to you and billysotherdad!!!!!



PS, you can call me, RRBB will be leaving town Monday Night for a convention and I will have lots of extra un-stressed time.....

 

[disneyberry]

<font face="times" size="+0">Hi Rick, I was just about to post that you can check out the link in my sig on dues, but DBBN already posted the link on the previous page.

Anyway, the analysis I did was on estimated dues, and I've been planning for some time to do an analysis of dues increase history using the "true" dues taking into account those real estate tax differences between Estimated vs. Actual numbers that Pam described. I never finished collecting enough data though. I suppose I'll get around to it later this year when everyone starts getting their new dues bills and are actually thinking about the topic.

Okay sorry for rambling on about dues analysis. That was a mouthful. Happy b-day to you guys, btw. DBF and I also have b-days very close together. Isn't it great to be able to celebrate together?

Oh, btw, I just noticed that the link DBBN provided isn't the same. You should check out the link in my sig for a better big picture. HTH!</font>

 

[colleen costello]

Hi Rick. Welcome!

Just my 2 cents... We bought at the Beach Club, and I like it OK there, but it is not close to my favorite resort. I love Old Key West and the Wilderness Lodge. In the two years we've belonged to DVC, I have just about always gotten the reservations I wanted. Once I waitlisted and got the room I wanted that way... In any case, so far so good BUT prevailing wisdom on the Boards is "buy where you want to stay." As DVC grows, it will probably be harder to get reservations at resorts where you are not an owner. So you guys need to talk it over and decide... If Saratoga is not really appealing to you, you should probably hold out for a resale at one of the resorts you love. Old Key West is really big and is pretty easy to reserve. Saratoga will also be really big when done. But if it's the Lodge you love, the Villas end is really quite modest in size and it will be hard to get a room there at busy times... I kind of wish our points were at the Lodge. I reassure myself by realizing that I could always get "cash nights" at the Lodge if a DVC room wasn't available.

I guess what I am reminding you is that while it's important to crunch the numbers and get a good deal, it's also important to consider where you want to stay the most! I think a road trip is in order... Can you visit Orlando and tour the resorts before deciding? Sounds like a good excuse for an extra vacation!