VB Dues 2005

[July]

What are VB dues for 2005? I have an estimated figure at $4.869 a point. But if I figure out my bill this year it comes out to be $4.98 a point. Am I doing something wrong.

July

 

[Doctor P]

All of the resorts had an adjustment upward for underestimating the 2004 property taxes. Perhaps that is the difference (and it was not included in the 2005 estimate as it is not a 2005 expense).

 

[DebbieB]

If you pay your dues monthly, the underestimated tax charge will be in your January payment. That will make January's debit more than the rest of the months.

 

[PamOKW]

I got my dues statement today, including dues for Vero. The dues are the same as was in the estimated budget we received in November. 3.6350 Operating; .6068 Capital Reserves and .6281 estimated taxes for 2005. Total -- $4.8699 IN ADDITION, the 2004 taxes were underestimated and we have to pay the difference. This isn't broken out per point but I think it's .1172 per point. If you are taking the Total Annual Dues Payable line and dividing it by the number of points you own, you are probably coming out with roughly $4.98 per point because it would be the 2005 dues plus the $.11 per point point taxes owed from 2004.

If you are having the dues automatically deducted, the entire real estate tax owed will be taken out Jan. 15 along with the regular dues. After that, the remaining dues will be taken out equally every month.

 

[CarolMN]

Was there anything in the VB statement that mentioned a special assessment (due to the hurricane damage)?

 

[sap1227]

Was there anything in the VB statement that mentioned a special assessment (due to the hurricane damage)?

Nothing in the Dues Statement, hopefully that is a good sign!

 

[PamOKW]

The special assessment can't be determined until the "dust settles". DVC will be passing along any costs that remain after insurance and government subsidies.

 

[July]

Thank you for the answers. I feel better. We only bought in 2003 so this is still new to us. We pay in one lump payment. We only have 240 points. I imagine folks who have more like say 1000 have to pay monthly. Or the young families on a budget. Right now we can afford it. Maybe when we retire, we will go monthly love the option.

Thanks again
July

 

[TinkTatoo]

We are thinking of buying into Vero Beach - do you think we will be hit with high maintenance charges next year??

 

[DebbieB]

I would only buy at Vero if you intend to stay there. Dues are much higher to start with (even before this year's hurricanes) and there's always the possibility of hurricanes each year. Someone posted that there is a disclaimer in the paperwork that says there is a 1 in 4 chance the resort will be destroyed in the next 25 years. It maybe cheaper to start with but you are going to pay more in the long run.

 

[thegoods]

A 1 in 4 chance the resort will be destroyed in 25 years??? Geez, I guess that means there is a pretty good chance my house will get destroyed along with all of South Florida. It is simply not rational to believe that VB has this chance of being destroyed. The resort took a pretty good hit by Jeanne with 110 MPH sustained winds, if not higher. There was very little structural damage but lots of water damage. We have driven much of the Florida east coast and this area was hit the hardest by Jeanne and Francis.

VB does have higher dues, primarily associated with increased maintenance costs attributable to the extreme climate as well as the smaller property size with fixed costs. Insurance rates factor in as well. but the whole state will be seeing property insurance increases, not just the coastal areas. For years, many believed that living in the center of the state meant less chance of damage. Charlie, Francis and Jeanne proved that to be very wrong.

Buying at VB to stay in Orlando is a mistake. Buying at VB to stay at VB during peak times in the future might be the right thing to do. My family has spent much of the eight years we have owned DVC going to Orlando. Frankly, we are ready for a change, as I think some people are. We are now looking to see the rest of what DVC has to offer through its off site resorts and II. Therefore, the off site resorts could very well prove popular in the future as the Orlando based membership continues to grow. For example, my wife and I are looking forward to quiet beach vacations when the kids are out of the house. Therefore, VB (and HH) will be very attractive to us.

I read the speculation on another thread about expansion into Colorado. This would be a great off site option to provide us some vacation diversity "in house". Also, during our last trip to WDW, a guide told us that the number one II destination request was Las Vegas. That surprised us. So, perhaps Vegas is on DVD's radar??? This would certainly be in the context of "think big".