# Property Taxes...



## Ridewithme38 (Mar 27, 2012)

Both of my Timeshares when they sent my Maintenance fee bills included Property Taxes as a separate line item....

Do any of you claim these on your taxes? I *think* Technically we can, but i don't know if $50 in property taxes will REALLY make any difference

Is there really any point to Claiming it?


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## IngridN (Mar 27, 2012)

Yep, I claim the property taxes for the Shadow Ridge (separate billing from state) and Grand Chateau (line item on maint. fee stmt)...every little bit helps! My tax man says they are deductible.

Ingrid


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## theo (Mar 27, 2012)

*He say right...*



IngridN said:


> My tax man says they are deductible.



There is *no* question or doubt that timeshare property taxes are fully deductible --- just like any other real estate property tax.


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## Ridewithme38 (Mar 27, 2012)

IngridN said:


> Yep, I claim the property taxes for the Shadow Ridge (separate billing from state) and Grand Chateau (line item on maint. fee stmt)...every little bit helps! My tax man says they are deductible.
> 
> Ingrid



Have you noticed any change in your refund with the added Property Taxes?


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## jpc763 (Mar 27, 2012)

For me, it is about $20 more on my refund.  I pay annual taxes on 3 properties even though I only have 2 weeks.


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## siesta (Mar 27, 2012)

Its your money, of course you should claim it... If, of course, its in a seperate item line and not blended with your MF. Only a few states do this, Florida being one of them.


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## IngridN (Mar 27, 2012)

Ridewithme38 said:


> Have you noticed any change in your refund with the added Property Taxes?



It's more than w/o them!

Ingrid


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## Cheryl20772 (Mar 27, 2012)

theo said:


> There is *no* question or doubt that timeshare property taxes are fully deductible --- just like any other real estate property tax.


funny that....how it can be taxed on some value just like any other real estate, but if you want to sell it or donate it there's almost no value then.  If the world were fair we'd expect to sell it for at least the real estate tax appraised value and the IRS should recognize that value too.  This timeshare situation is sick.


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## Ridewithme38 (Mar 27, 2012)

IngridN said:


> It's more than w/o them!
> 
> Ingrid



Thank you! That exactly answers my question, some things seem to have a 'general deduction' so unless you are over that 'general' amount, it has no effect on your return...

If this gives me even $1 more....that's worth it IMO


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## Timeshare Von (Mar 28, 2012)

We claim ours on the Schedule A.  I'd say it's saving us 15% of the total amount of the tax paid. No, not a lot, but worth including it with the real estate taxes on our house.


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## theo (Mar 28, 2012)

*An incomplete perspective...*



Cheryl20772 said:


> funny that....how it can be taxed on some value just like any other real estate, but if you want to sell it or donate it there's almost no value then.  If the world were fair we'd expect to sell it for at least the real estate tax appraised value and the IRS should recognize that value too.  This timeshare situation is sick.



I'd point out that property tax actually relates (albeit not exclusively) to the value of the land and buildings and other infrastructure, which clearly have (and which obviously retain) monetary value *as real estate*, regardless of market fluctuations in the resale value of the assorted individually owned "intervals" therein.

In short, the fact that an owner of an "interval" may not be able to sell off (or even give away) his / her particular week certainly doesn't in any way mean that the underlying property (i.e., the real estate itself) can or should then be regarded as having little or no monetary value. That logic would make no sense at all.

I suppose one _could_ present the argument (...as people often do regarding maintenance fees) that owners of high value weeks and owners of low value weeks within the same facility should not be required to pay the same amounts in maintenance fees *or* property taxes, but that philosophical discussion (regardless of any resentment from low value week owners) will *not* result in any such thing ever actually happening...


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## Davey54321 (Mar 31, 2012)

*Property Taxes DC*

Any idea on the DC property taxes?
For your tax records, the association paid Real Property Taxes of $11.16 per beneficial interest owned in 2011. Property taxes may be tax deductible.

What is the Beneficial Interest??


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## Rent_Share (Mar 31, 2012)

siesta said:


> Its your money, of course you should claim it... If, of course, its in a seperate item line and not blended with your MF. Only a few states do this, Florida being one of them.


 

In california it's billed by and paid to the county


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## Cheryl20772 (Mar 31, 2012)

Davey54321 said:


> Any idea on the DC property taxes?
> For your tax records, the association paid Real Property Taxes of $11.16 per beneficial interest owned in 2011. Property taxes may be tax deductible.
> 
> What is the Beneficial Interest??


It's the right to enjoy or use the property granted to an person by the contract.

Why do you ask about DC property tax?  Wyndham doesn't have any resorts inside DC limits.  Alexandria is in Virginia and National Harbor is in Maryland.

I don't think there are any timeshares in DC.


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## Picker57 (Apr 2, 2012)

*And if you're in Points?*

Greetings all - Glad to see this thread. We have Shell points, and we did get a  property tax breakout last year.  I can't remember whether it's stated on the annual maintenance fee statement (can't find it....gee, what a concept...), but if you contact them through "contact us" on the SVC website, they'll get the numbers to you.  I'm guessing this is the same with any Points program. 

Cheers to all,
                         Zach

PS    Next trip....Manhattan Club - fell into it thanks to a kind lady at SFX. I'm pumped !!


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## BigRedOne (Apr 2, 2012)

And, don't forget mortgage interest if you have your timeshare financed (at least for weeks ownership). It's deductibl as a vacation home.


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## HatTrick (Apr 2, 2012)

*Another recent thread about this...*

http://www.tugbbs.com/forums/showthread.php?t=165473


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## SueDonJ (Apr 4, 2012)

Davey54321 said:


> Any idea on the DC property taxes?
> For your tax records, the association paid Real Property Taxes of $11.16 per beneficial interest owned in 2011. Property taxes may be tax deductible.
> 
> What is the Beneficial Interest??





Cheryl20772 said:


> It's the right to enjoy or use the property granted to an person by the contract.
> 
> Why do you ask about DC property tax?  Wyndham doesn't have any resorts inside DC limits.  Alexandria is in Virginia and National Harbor is in Maryland.
> 
> I don't think there are any timeshares in DC.



I think Davey might be referencing Marriott's new Destination Club system?  If so, Davey, a DC Beneficial Interest is defined as 250 DC Points, so if you purchased - for example - 2,500 Trust Points then your share of the property tax would be $111.60 (10 BI's X $11.16 per.)

(I have no idea of the correct answer about whether or not timeshare property taxes can be deducted, and my answer assumes that your $11.16 figure is correct.  Looks like your second line might be a direct quote from Marriott?)


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## RMitchell (Apr 4, 2012)

*Morritt's*

Morritt's is in Grand Cayman and they don't have a property tax...but...they do have a 10 dollar a night bed tax. Do you think this is something that can be claimed? The bed is on the property and it is a tax.


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## theo (Apr 4, 2012)

*True enough, but...*



RMitchell said:


> Morritt's is in Grand Cayman and they don't have a property tax...but...they do have a 10 dollar a night bed tax. Do you think this is something that can be claimed? The bed is on the property and it is a tax.



I'm no CPA, but in this instance I suspect it's highly relevant that the entire property you mention is not even located in any state within the United States. 

The local "bed tax" cited is likely closely akin to what is called in many U.S. states / counties / towns as an "occupancy tax" or "room tax" (neither of which are a real estate property tax and accordingly are not deductible as such on U.S. returns). 

Once again, I'm no CPA, but I'd still place a small wager on this one...


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