I ran across this info when buying last October. I'm a little concerned, but then looking at the property tax portion of dues on BWV (where I purchased), over the last 10 years the amount going toward the taxes has gone up by about 50% but really that amounts to about $.50/pt.....over 10 years. Kind of puts it in perspective.
Thing is, after owning for 5-10-15 years, it often seems like one thing or another. One year the operating budget gets an abnormally high bump because DVC claims they're putting new housekeeping procedures in place. Next year gas prices rise and transportation line item balloons. Next year a hurricane hits FL and it's insurance rates. Then taxes, capital reserves..the list seems endless.
Before you know it, you're seeing total dues increases of 4-8% every single year, which is obviously faster than wages are rising.
Now, I'm too lazy to go looking up actual #s right this minute, but I think the current tax portion of our dues is around $1.50 and I believe there is a cap on annual tax increases of 10% annually.
Incorrect. There is a cap on the amount operating costs may rise in a year but there is zero cap on tax rates. Whatever the county assesses is that owners pay. Unless rates are successfully challenged.
Then I think about CCV and believe that property would not likely be affected by a reassessment because it should already be pretty "accurate", right? Also, it's new, so there shouldn't be a lot of "surprise maintenance" etc. So, will all the other resorts start to catch up to CCV in dues?
History has proven that's not necessarily the case. BLT dues rose very modestly the first two years--while the resort was in active sales. Since then all cost components have cumulatively risen more than 50% in the next 7 years.
Dues are unique to every property, varying depending upon building type & materials, amenities, services provided, type of park transportation, size, etc. One of the biggest factors is the points charts themselves. Since dues are expressed on a per-point basis, the number of points in the resort will impact that rate. A $10 million operating budget will cost "less" if spread over 6 million points than 5 million.