what is the annual dues statement

[Dznypal]

this is our first year as members buying in Jan 2016

we have our dues taken direct debit bu yesterday we got a

annual dues statement it says we have nothing due

it gives a total annual dues amount

then near the bottom it has the amounts broken down for 2017--which actually is cheaper then this year

were just alittle confused about this or is this what well be paying for next year--do we use this statement then for our taxes

could someone please explain this to a newbi

thanks all and happy new year to everyone

 

[BillPA]

The nothing due should be for the 2016 year.
There was no resort that the dues went down between 2016 and 2017.
To get the total for 2017 add the 2017 operating and Capital reserves amount to the 2017 Property taxes amount.
At the very bottom you should see 3 items:
Direct Debit date 1/15/17 $xxx
02/01/17 - 11/01/17 $xxx
12/01/17 $xxx

 

[Dznypal]

thanks for your reply--however it still doenst make sense

I added what you suggested and got lower per month then we paid for 2016

yet where you told me to look at the bottom this is lowest of all 3 amounts what we paid for 2016--what you told me to add and whats on the bottom of the sheet (direct debit 01/15/17 xx.xx
02/15/17 to 11-15-17 xx.xx
12/15/17 xx.xx

am I right that this is what our monthly payments will be for 2017

if thats the case we owe less for 2017 then we did for 2016 for whatever reason--when we bought it which was Jan 2016 they said our dues would be pro rated IM not sure about the prorated though since our use yr is Aug but we didnt own it from aug 2015 till JAn 2016

 

[drusba]

If you bought from Disney during 2016, then the monthly dues you paid in 2016 can be higher than what it is showing you will pay in 2017. That is because when you purchase from Disney, you pay the pro rated share of annual dues from the date of purchase till the end of the year, but if you signed up for monthly withdrawals from your account, the first monthly payment did not occur until likely more than a month after you had purchased. For example, if you purchased June 1 you could have only 6 monthly withdrawals from July 1 through December 1, but you would pay for 7 months in those 6 payments.

Now that you are on the normal year, you will be paying 12 months in 12 installments and thus, even if dues went up, you can have a lower monthly payment than you had before.

Your dues statement in the top portion has an amount for property taxes paid in 2016 that you can use for your taxes if you itemize deductions. The bottom part tells you not to pay anything and instead shows what your monthly withdrawals will be.

 

[Dznypal]

thanks for the for the great explanation drusba Im understanding this a little better however I see where it say what the 2017 taxes will be

however where is says 2016 property taxes it shows under the total amounts (xx.xx) that cant be a credit can it but it is about half of what it shows for the 2017 taxes but we actually owned it for the whole yr cause we bought the end of Jan 2016

thanks were still trying to figure all this out

 

[drusba]

What is it showing as "Days Prorated" for Taxes in 2016?