VWL 2003 Dues up 6.6%

[ralphd]

Have not received BWV yet, but have received:

VWL.....$4.0542
BCV......$3.9728

It will not surprise me to see a $4.10 BWV Budget.


ralphd

 

[Eeyore2U]

As I stated earlier my DW works in an area that deals with the insurance for a large corporation. This is fallout from 9/11 and as she told me as I was figuring the percentage the crash of the stock market. When insurance carriers are losing money they pass it on to us.

 

[EROS]

OUCH!!!!!!!!

 

[DebbieB]

I work for a major insurance company and Disney would fall into the "trophy property" category, which means a potential target for terrorists. I imagine that they had to pay quite a bit to get coverage that includes terrorism. Also, Florida is a windstorm area and has been getting big rate increases for that. Worker's Comp rates are also up.

I'm surprised VWL was only paying $42,589 for insurance this year. I work in Commercial Insurance and that is very, very low for a property of that size, especially considering it is a wood frame building. According to the notes I have from BWV, that includes Property, General Liability, Worker's Comp, Crime and Directors & Officers. I'm not surprised that they could not get a renewal for anywhere near that premium with today's conditions. Even $282,000 is a good rate. I assume that it is part of a package policy that includes all of Disney's properties, which would help get a better rate.

 

[Maistre Gracey]

Okay, I got something in the mail today. It looks like the budget calls for 2.8152/pt, and capital reserves of 0.4630/pt. What I don't see, are the property taxes. I would assume this is the missing figure that makes up the total that all of you are talking about?

 

[StevieD]

Originally posted by Maistre Gracey
Okay, I got something in the mail today. It looks like the budget calls for 2.8152/pt, and capital reserves of 0.4630/pt. What I don't see, are the property taxes. I would assume this is the missing figure that makes up the total that all of you are talking about?

You should see the property taxes on the last page of your mailing. It will have a heading like "Estimated Ad Valorem Taxes for January 1, 2003 through December 31, 2003".

 

[Maistre Gracey]

Originally posted by StevieD
You should see the property taxes on the last page of your mailing. It will have a heading like "Estimated Ad Valorem Taxes for January 1, 2003 through December 31, 2003".

Ahh, yes... I was looking for some sort of chart.
Thanx...

 

[GAIL HAYDEN]

It will be interesting to see how the OKW dues increase...let them go up 6%......You'll really see the boards light up.

Since they are allowed to go up 12 or 13% ( I truly forget which) I hardly think that 6% is an issue, but if you feel it is, write me, perhaps I will buy your points, if they are at OKW.

 

[msdis]

DebbieB


Not that this is a big deal but I laughed when I read your post as DH is always complaining about how VWL is NOT real wood, it's Disney wood. He is always commenting that the villas are a cheap version of the lodge. I guess it's a vinyl siding material. My thoughts were great, less maintenence, less cost of dues

 

[ralphd]

Originally posted by Granny
Just got my DVC Management Corporation mailing that indicates next year's dues for VWL are estimated to be $4.0542 per point.

That represents about a 6.6% increase from 2002 dues of $3.80.

I don't know if anyone is compiling these, but I don't remember seeing the VWL 2003 number posted.

That's an 11% increase over the rate from two years ago. Definitely a faster increase rate than the historical DVC dues rate...so I'm a little disappointed.


Guess those quiet pool rehabs are expensive!



More grist for the mill!

If you subtract the Developer Subsidy from the Revenue, the actual VWL cost per point is $4.1092. Do not have the 2002 budget, so I don't know if a subsidy was included in the current year budget.

ralphd