Contesting Property Values for Timeshares in California

[klkaylor]

I have been sucessful in contesting (getting reduced) by home property tax via informal review (phone call) for the last several years. It is just a difficult house to evaluate via resale comps, etc. However that made me think about my CA timeshares. Developer purchase price, county assessment, resale value, and ROFRs are very different numbers. It would seem that the ROFR value would be the best determinate of assessed value for taxes. Anyone every tried to change the assessed value of their timeshare for property taxes? This may only be a CA issue in that TS owners are billed directly for the property taxes rather than having them billed via the yearly assessments from the HOA.

 

[BigDawgTUG]

Never gave much thought to doing so, as the property taxes tend to be fairly minimal. For our NCV Gold week, which my father in law paid around $20K for, it is currently assessed at $9,525 and our annual property tax obligation is $103.86. If we look to rofr.net, resales have been around $3,500. So, best case, maybe I can save $50 or $60 per year. However, what I don't know is what recorded resales might show, and for which the assessor would rely. Main concern would be hybrid sales of NCV units from MVC, which would artificially inflate values. So, from my perspective, likely a whole lot of work for a relatively minor pay-back.

 

[zentraveler]

I got our Four Seasons Aviara property tax assessment reduced in 2008 when everything crashed. Don't remember the dollar amount but asking for it was easy.

 

[mjm1]

When we bought a resale at Marriotts Desert Spring Villas in Riverside County I asked how the property tax value was determined. As I recall they use the recorded sales amounts for that quarter to set the values. We pay about $100 per year. Resale prices haven’t changed much since we bought in 2010, so the difference, if any, isn’t enough for us to inquire about a revaluation. Each county likely sets values in their own way, so one would have to ask how they do it.

Best regards.

Mike

 

[klkaylor]

Thanks for the thoughts. In Kern I have about a 4 min discussion and win a few years, lose a few years. My home is very hard to asses much like a timeshare. I do think the ROFR is the best data point. I know there is a spreadsheet somewhere on this board - can anyone point me too it? I agree the numbers are small but saving lots of dimes is a road to wealth.

 

[Fasttr]

Thanks for the thoughts. In Kern I have about a 4 min discussion and win a few years, lose a few years. My home is very hard to asses much like a timeshare. I do think the ROFR is the best data point. I know there is a spreadsheet somewhere on this board - can anyone point me too it? I agree the numbers are small but saving lots of dimes is a road to wealth.

Home Page - ROFR Experiences

ROFR Right of First Refusal Results Marriott Hilton Experiences

www.rofr.net

 

[WBP]

I have been sucessful in contesting (getting reduced) by home property tax via informal review (phone call) for the last several years. It is just a difficult house to evaluate via resale comps, etc. However that made me think about my CA timeshares. Developer purchase price, county assessment, resale value, and ROFRs are very different numbers. It would seem that the ROFR value would be the best determinate of assessed value for taxes. Anyone every tried to change the assessed value of their timeshare for property taxes? This may only be a CA issue in that TS owners are billed directly for the property taxes rather than having them billed via the yearly assessments from the HOA.

It sounds to me like you have found a passtime that you are fascinated by, and enjoy, of contesting property taxes, and attempting to win. I'm struggling to find a basis to contest the property tax on your "little timeshare." A few dollars (or dimes, as you say)?

 

[klkaylor]

WBP - nice of you to use your passtime to insult folks who spent some time to reduce their overall life cost. I take it that you do not try to reduce your income taxes - infact why take any deductions - send them extra money. I hope you never try to buy a car for cheeper than list. To be honest the event takes about 10 min to discus in CA - less time than it takes for me to let you know that I found you insulting.

 

[klpca]

I have been sucessful in contesting (getting reduced) by home property tax via informal review (phone call) for the last several years. It is just a difficult house to evaluate via resale comps, etc. However that made me think about my CA timeshares. Developer purchase price, county assessment, resale value, and ROFRs are very different numbers. It would seem that the ROFR value would be the best determinate of assessed value for taxes. Anyone every tried to change the assessed value of their timeshare for property taxes? This may only be a CA issue in that TS owners are billed directly for the property taxes rather than having them billed via the yearly assessments from the HOA.

I looked into it years ago when we owned a few DSVII resales. At some point during those years Riverside county set a minimum timeshare value (of $3k IIRC). I had purchased the timeshares for near zero but I couldn't get around this minimum value. Since it was maybe $20 I just let it go.