• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 31 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 31st anniversary: Happy 31st Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $24,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $24 Million dollars
  • Sign up to get the TUG Newsletter for free!

    Tens of thousands of subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Property Tax Reassessment in CA

CaliforniaDreamin'

CaliforniaDreamin'

TUG Member
Joined
Mar 25, 2008
Messages
70
Reaction score
9
Resorts Owned
Marriott Newport Coast
I just received a letter from Orange County indicating that the new assessed value for my Gold unit is $10,710. This is less than I paid in February, 2008, but considerably more than the Gold unit appears to be selling for in many venues (especially eBay). Since the total tax bill is small, I'm not concerned about appealing the assessed value determination. Has anyone received a higher/lower assessed value?
 
I received an assessment for my Gold week for $13,795, a 5% increase. I am surprised at the difference between our assessed values. I bought my NVC timeshare in 2005, so it could have something to do with proposition 13.

Note: Be sure to pay your tax bills on time. I forgot my second payment was due, and Orange County assessed a $40 late fee for a $76 bill. I guess they really need the money.
 
Superchief said:
Note: Be sure to pay your tax bills on time. I forgot my second payment was due, and Orange County assessed a $40 late fee for a $76 bill. I guess they really need the money.
Click to expand...

No problem, just send them an IOU :doh:
 
I go thru this with them every year. I recieved a 12k value for a platinum EOY. I wish they would have one value for each season and type (EOY/EY) and stick to it.
 
CaliforniaDreamin' said:
I just received a letter from Orange County indicating that the new assessed value for my Gold unit is $10,710. This is less than I paid in February, 2008, but considerably more than the Gold unit appears to be selling for in many venues (especially eBay). Since the total tax bill is small, I'm not concerned about appealing the assessed value determination. Has anyone received a higher/lower assessed value?
Click to expand...
I believe California property tax is based on your purchase price, and can be adjusted upward about 1.02% each year. The property tax can also be adjusted downward if the accessed value of the property is less than your purchase price.
 
Vacation4us said:
I believe California property tax is based on your purchase price, and can be adjusted upward about 1.02% each year. The property tax can also be adjusted downward if the accessed value of the property is less than your purchase price.
Click to expand...
This doesn't seem to be true.

I just bought at $7500, and was accessed at $13,500. (for gold)
 
I recently purchased a platinum unit and my assessment is for $17,509 (considerably more than what I paid resale). How is it calculated? It appears to be all over the place! Can anyone tell me when I should expect my first tax bill?

Susan
 
I really think they make it up as they go along, it is silly. When I first bought, they assessed at 9k, then tried to jack it up to over 15k I think. I argued about it and they reduced it to 12k, I just gave up at that point.
 
Our gold is now up to ~14.6K and the platinum is up to ~18.8K. Based on 66% of developer paid in 2004, the numbers accurately reflect Prop 13. The 66% number is something MVCI and the OC worked out for development purposes, or so was represented to me in our closing documents.

Would be nice to sell them for their current assessed valuations....;)

Pat
 
Out of the blue, I just got a notice from the county, they just changed the assessment of my NCV gold from $14K to $7500. Also said they back-dated this to 2009 so I will get a refund.
 
Proposition 13 requires that the assessed value be determined by the purchase price.

The tax rate is 1% of the purchase price. Special districts taxes, etc. can add up to an additional .25%. So, 1.25% is a good tax rate to use.

Once the assessed value is established, it cannot increase by more than 2% annually.

As the purchase price of a timeshare includes non-taxable items (furnishings and services), California allocates a standard 35% of the price as non-taxable. So, 65% of the purchase price is the assessed taxable value.

To calculate the proper tax:

Purchase Price x .65 x 1.25%

As with most issues re: government services in California, it may take a while for the system to catch up with the transaction. But, as Bill has indicated, they usually get it adjusted eventually.

Hope this helps with the confusion.
 
Last edited:
BocaBum99 said:
Good ol' Proposition 13. Great way to distort the market by charging different property taxes for similar units based on when they bought it.
Click to expand...

I agree...I live here in CA and am thinking of getting a group together to see if we can get something modeled along the lines of the Maui law. That would be much better.... :ignore:
 
So, in Bill's case, shouldn't the assessed value be .65 of what he paid, .65 of 7500.00?

Since Marriott is selling NCV for close to 30K for gold last I saw, the correlation between developer and what they reassessed is a disconnect. Looks like they just assessed it at exactly what he paid. If this is consistent, that would lend support for the documentation I received regarding assessment of 'new' sales, as in the '.65 rule' only applies to developer sales.

In any event, glad you got the relief Bill. OC has been pretty good to deal with overall.
 
camachinist said:
So, in Bill's case, shouldn't the assessed value be .65 of what he paid, .65 of 7500.00?

Since Marriott is selling NCV for close to 30K for gold last I saw, the correlation between developer and what they reassessed is a disconnect. Looks like they just assessed it at exactly what he paid. If this is consistent, that would lend support for the documentation I received regarding assessment of 'new' sales, as in the '.65 rule' only applies to developer sales.

In any event, glad you got the relief Bill. OC has been pretty good to deal with overall.
Click to expand...

The taxable value is 65% of the assessed value.
For residential real estate it is 100% of assessed value.
 
Can you direct me to this formula? I'd like to read it for myself. I can't find anything about it on the OC assessor's web site.

My tax bill says, and I quote:
"Assessed values and exemptions as of January 1, 2009"
"Full value" Land- 10,599
Improvements - building - 7,064

'Total value' - 17,663

'Total net taxable value' - 17,663

'Computed tax' - 191.90


Where the tax is broken down below, it shows some taxes are on the entire 'total net taxable value' and some are on the 'land value'.

On my tax bill, I'm not seeing any delineation between 'assessed values' and 'tax value'. They are the same number.
 
Much to my surprise, last summer I received a refund for a 2008 property tax overpayment (due to a retroactively reduced assessment on my NCV timeshare).

Here in Upstate New York we have some of the highest real property tax rates in the country (about 3% of fmv on my personal residence). For me, OC property taxes are a great deal.
 
Bill,

I can hardly wait for tomorrow's mail.

I filed an appeal for 2009 and the hearing is May 5. Could I trouble you for a copy of your notice, if I don't get one?

Also, remember that from now until the end of April you can file a free request for re-evaluation with any California assessor. The OC assessor has this info here (use the Single-Family form). I sent mine in yesterday, with info from the TUG sales listing, and about 4 ebay auctions, to support my estimate that a Gold week should be valued somewhere from $4000-8000 and not $11,928.

The assessments are based on the value January 1. In the year you buy, you will get a notice that your assessment is whatever it was for that same year to the previous owner. Later, and I mean up to a year later, you get what is usually a notice of supplementary assessment (i.e., if you paid more than the previous owner, they'll want more money). You SHOULD get a reduction if you paid less than he did. But you may have to ask for this. Be sure to do that now, because on July 1 it's cast in fairly firm concrete for another year.
 
Last edited:
camachinist said:
Can you direct me to this formula? I'd like to read it for myself. I can't find anything about it on the OC assessor's web site.

My tax bill says, and I quote:
"Assessed values and exemptions as of January 1, 2009"
"Full value" Land- 10,599
Improvements - building - 7,064

'Total value' - 17,663

'Total net taxable value' - 17,663

'Computed tax' - 191.90


Where the tax is broken down below, it shows some taxes are on the entire 'total net taxable value' and some are on the 'land value'.

On my tax bill, I'm not seeing any delineation between 'assessed values' and 'tax value'. They are the same number.
Click to expand...

Sorry, I can't find reference to it either.

The .65 of assessed value is the standard adopted by the State for timeshares (not the County). Timeshares cannot be taxed for those items and services deemed to be outside the physical real estate. These include furnishings. So, California adopted the 35% standard.

How it shows up on the physical tax bill differs from County to County. Nonetheless, Prop 13 is clear. That is why each owner receives a separate tax bill. Assessed value is determined by the purchase price, and cannot increase more than 2% annually while owned.
 
camachinist said:
So, in Bill's case, shouldn't the assessed value be .65 of what he paid, .65 of 7500.00?
Click to expand...

I don't know what Bill paid for his timeshare. He reported that the assessed value was originally $13,500. It was reduced to $7500.
The $7500 should include the .35 reduction.
 
I should be lower based on what I am hearing. When I get my new bill, I will contest it also.
 
Has anyone tried applying for a property tax reassessment for their timeshare property? I own at Marriot Desert Springs, Riverside county and I've seen resales of prime RED weeks there for under $7,000 (see offerings on Redweek.com and TUG.)

If you have been sucessful, can you share with us how you did it and any tricks you learned along the way?
 
DanH said:
Has anyone tried applying for a property tax reassessment for their timeshare property? I own at Marriot Desert Springs, Riverside county and I've seen resales of prime RED weeks there for under $7,000 (see offerings on Redweek.com and TUG.)

If you have been sucessful, can you share with us how you did it and any tricks you learned along the way?
Click to expand...

I would think one would need to get hold of completed sales, those that are recorded at the County. Those sales prices are definitive figures, whereas the prices listed on TUG and Redweek are negotiable.
 
For what I'm paying in property tax on my timeshare in CA, it's really not even worth my time to hassle with trying to have it reassessed. Now, with my home, that might be another matter. :rolleyes:
 
You must log in or register to reply here.
Top