Taxes on DVC

[tinkrbells]

Can anyone tell me what the property taxes are for DVC?

We are looking into buying at the VWL and are curious as to what property taxes will be.

Thanks!

tinkrbells

 

[lawgs]

there will be a per point cost .....that includes taxes and maintenance....

the per point cost varies by resort ....with the BWV and VWL ....being closer to 4$ and OKW approximately 3$+ a point...someone will surely post the exact "per point" cost...

on your annual statement report ......they do break everything out ........to show how much goes where.......to come up with the grand total per point cost...

 

[tinkrbells]

Are the taxes included with the annual dues & maintenance fees?

tinkrbells

 

[Granny]

Yes, they are part of the "dues".

As mentioned, they are broken out on the dues invoice you receive.

Question for others: Are the DVC property taxes deductible if you itemize on the federal income tax return?

 

[tinkrbells]

Good question!
I bet you can, just like you can deduct your residential property taxes.

What about it you DIS CPAs out there. Can we deduct the property taxes?

tinkrbells

 

[Figment2]

DVC qualifies as a second home. You can deduct the interest paid on your DVC mortgage and the real estate taxes as long as you do not have two homes already.

C.

 

[CampTKRAJ]

For OKW-Taxes for year 2000:Actual .1327 per point
Taxes estimated for 2001er statement-.7157 per point
I cannot determine why the actual for 2000 is so dramatically different from the estimate for 2001...it seems obvious to me that DVC is acting as an "escrow agent" for the real estate taxes.

The real estate taxes are deductible on your return should you itemize your deductions.

 

[KNWVIKING]

I think your 0.1327 is a typo. isn't more like o.69 ???

 

[Doctor P]

2000 property taxes at OKW were .6941

 

[Cap]

CampTKRAJ,

Did you buy at OKW in 2000, so your 2000 taxes were prorated?

That might explain the big difference.

 

[CampTKRAJ]

Dear CAP:

Yes, we bought during 2000 and yes the taxes were prorated...that answers my own question about the increase from 2000 to 2001. Thanks for helping me see the error of my illogical logic!!!!

 

[PamOKW]

Here's the 2001 OKW breakout.

Operating Costs - $2.0649 per point
Capital - $.3466
Property Tax - $.7157

Dues Total -- $3.1272

When they are assessed the actual dues, if it is less, they will deduct that amount from the payment due for the 2002 dues. (I suppose they would also assess a difference if it went up but that hasn't happened to date.)