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Grand Chateau Property Taxes [2016 MF's Discussion]

BocaBoy

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My Grand Chateau maintenance fee bill this year does not break out the property taxes as a separate line item on the bill, which makes our back-up records for income tax purposes less clear. This has never happened before with any of my resorts in 28 years of Marriott ownership. The tax amount is in the total being billed (I can tell from the 2016 budget) but the bill does not break it out, even though the bill itself says that the property tax amount is shown separately. I called Marriott and they are aware of the problem and agree that someone goofed.

Another interesting fact is that the 2016 property taxes for Grand Chateau are only about 20% of what the 2015 taxes were. Any ideas on what caused this? Despite this decrease, the total maintenance fee increased by the typical Marriott out-of-control percentage of close to 6%. Excluding property taxes, the increase is over 11%.
 
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Steve A

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I was able to look up the Grand Chateau budget for 2016. It said that the property tax for a two bedroom would be $12.46. That seems very low. How can I verify that? Property tax is not broken out on the bill.
 
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BocaBoy

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I was able to look up the Grand Chateau budget for 2016. It said that the property tax for a two bedroom would be $12.46. That seems very low. How can I verify that? Property tax is not broken out on the bill.

I started a thread on this on November 4, but no one responded. I have also written to the Grand Chateau General Manager and Board of Directors to complain, because the breakdown of property taxes on the bill is important for tax purposes. I also wonder (and asked) why the property tax bill is only about 20% of what it was last year. Either there has been a major change this year in the way Nevada taxes timeshares, or for some reason we were overcharged in the past and this is being adjusted now to make up for it. I will post if I get a response to my questions, but frankly I expect them to be ignored.
 
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SueDonJ

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Moderator Note: These questions were posted by jpl88 in Post #26 in the MF Sticky thread, moved here for discussion:

"Nice decrease in the Bad Debt Expense from $29.71 to $19.30 (2BR) - a possible result of buybacks?
Valet expenditure is now $44.32, up from $36.99 - I think owners who exchange would prefer if this was charged to guests.

3BR owners have been hit by a much larger increase in housekeeping, project expenses assessment and reserves than 1 and 2 BR owners.

does anyone know what the "project expenses assessment" is - it amounts to $225.26 for a 2BR?"
 

Xpat

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- $12.46 does seem low but aren't real estate taxes very low in Vegas. I also own at the HGVC Las Vegas Blvd and 2016 property taxes on a 2BR are $29.17
- I've kept last year MGC budget and taxes were 13.15 on a 2BR and 20.61 on a 3BR, roughly in line with 2016 numbers

hope this helps...
 

Fasttr

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Another interesting fact is that the 2016 property taxes for Grand Chateau are only about 20% of what the 2015 taxes were. Any ideas on what caused this? Despite this decrease, the total maintenance fee increased by the typical Marriott out-of-control percentage of close to 6%. Excluding property taxes, the increase is over 11%.

Just spit balling ideas....but could it be, at least partially, because of the additional tower(s). I am not really up on when the new tower(s) went up, but I do know that property taxes/valuations do seem to lag, and if the valuation/inclusion of the new tower(s) has not yet hit an actual property tax bill yet, and if you take the same total bill and divide that by many more unit weeks that MVC is spreading the bill over, that might be why you would see a drop.

Again, its just a thought, and likely not a reason why it would drop 80%, but might be a contributing factor.
 

BocaBoy

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Just spit balling ideas....but could it be, at least partially, because of the additional tower(s). I am not really up on when the new tower(s) went up, but I do know that property taxes/valuations do seem to lag, and if the valuation/inclusion of the new tower(s) has not yet hit an actual property tax bill yet, and if you take the same total bill and divide that by many more unit weeks that MVC is spreading the bill over, that might be why you would see a drop.

Again, its just a thought, and likely not a reason why it would drop 80%, but might be a contributing factor.

That is a very interesting possibility and could conceivably be an explanation.
 

BocaBoy

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- $12.46 does seem low but aren't real estate taxes very low in Vegas. I also own at the HGVC Las Vegas Blvd and 2016 property taxes on a 2BR are $29.17
- I've kept last year MGC budget and taxes were 13.15 on a 2BR and 20.61 on a 3BR, roughly in line with 2016 numbers.

Interesting, so your Hilton property taxes went up from last year. Your 2016 numbers are very close for both 2BR and 3BR units to the 2016 taxes at Grand Chateau. But last year the Grand Chateau property taxes for a 3BR every year week were just over $100.
 
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