Timeshare Taxes, Assessments, Advice and Links To Consider
Timeshare Taxes, Assessments,To Consider One thing a person does not think about when in a timeshare sales presentation. How are the taxes and assessments determined? Example: We purchased a Memorial Week, 2 bedroom, 2 bath timeshare at Breezy Point International here in Minnesota from a private party for only $400. Click Here to see what we bought for $400. The sellers organically paid $9,000 for this Memorial week 10 yrs earlier. They lived close to the resort and because they lived close to the resort, within 1 mile, used that week for exchanging to other RCI affiliated resorts around the USA. Because they lived close to the resort and owned a deeded week they were also able to use the resort facilities either free or at discounted rates. Their deeded ownership was similar to a having a fitness club membership. The privilege of using the resort facilities anytime. That, is also the reason we purchased their resale market week that we found on the Internet for only $400. We live only 3.5 hours away and we look forward to using that week in the spring and early summer every year. What we didn’t think about was how the taxes were pro-rated for that week in this 4 unit building. It was not a big deal. We are billed through the timeshare association when they receive the taxes for that building every year. Our assessed taxes for that Memorial week deeded timeshare are only $24. Now, assume we were sold on the Points System I don’t have the answer as to how the taxes are assessed. I assume if it is a RCI points system that somehow the taxes are billed into the monthly maintenance fee. But think about this, “How many points were sold in that same unit”? In a deeded week situation 51 weeks in this 4 unit building would come out to 204 owners in the association. one of them. Never the same unit. The question still remains, “How are your timeshare points used to determine your timeshare taxes each year. There is no definite answer. That’s why we like “deeded timeshare vacation property.” We know exactly what unit we own http://breezypointtimeshare.com/pelican-greens-tsoa/Click Here to see what $400 bought on the resale market and how we are assessed and the taxes are determined every year. With the “Point” system thousands and thousands of points would be sold and you would never own a particular deeded week. In fact, when you would book a Memorial Week at this resort you could end up in another timeshare unit at the resort. There are 11 associations at this resort and you may end up in any one of them. Never the same unit. The question still remains, “How are your timeshare points used to determine your timeshare taxes each year. There is no definite answer. That’s why we like “deeded timeshare vacation property.” We know exactly what unit we own Click Here to see what $400 bought on the resale market and how we are assessed and the taxes are determined every year.