Property Tax Question

[shoji]

Has anyone attempted to have there property taxes for their timeshare re-assessed and lowered because of the decrease value of the housing market and timeshares in general?

Is it even possible?

 

[dougp26364]

I believe that would be up to each timeshare's HOA. I do not believe that an individual would be able to do that on a unit week by unit week basis.

I doubt very seriously that a municipality would look at the individual resale's for individual unit weeks as a way of assessing tax valuations but would look at the property as a whole. While it probably should be/could be done, I wonder how hard it will be to fight city hall to get them to lower valuations, thus lowering their tax base. I bet it's a problem that starts to crop up in the next year or two if the real estate market doesn't rebound.

 

[shoji]

I believe that would be up to each timeshare's HOA. I do not believe that an individual would be able to do that on a unit week by unit week basis.

I doubt very seriously that a municipality would look at the individual resale's for individual unit weeks as a way of assessing tax valuations but would look at the property as a whole. While it probably should be/could be done, I wonder how hard it will be to fight city hall to get them to lower valuations, thus lowering their tax base. I bet it's a problem that starts to crop up in the next year or two if the real estate market doesn't rebound.

Thanks for giving me some perspective. You are probably right that it would take the HOA to make an appeal to the County assessor's office and that it would not be done on a unit by unit basis. I wonder if anyone has tried since property values in California, Florida, and Nevada have dropped dramatically.