Proposed tax break for FL timeshare

[Cyberc]

Just read some interesting news in the Orlando sentinel.

Basically the current legislation states that when there is an inadequate number of resale for a specific timeshare property to determine fair market value then the value is set to 50% of the original developer value. The tax in then based on that value


The new proposed legislation states than in the case of a tax appeal any number of resales shall be determined adequate enough.

If this new proposed legislation goes through then FL timeshare owners could see a reduction to their annual MF as the tax goes down due to lowered value.

OTOH some counties are in for a potential loss as they pocket a lot of money each year due to timeshare taxes.

link:https://www.orlandosentinel.com/new...0200220-al4aeoxiujhvlpokluxom5geoa-story.html

Regards.

 

[Gypsy65]

Taxes might go down but I doubt the MF will

They’re going to get it from somewhere

 

[Talent312]

Many simply see taxes as a line item in MF's bills and have no idea what valuation is used.
You'd prolly have to drill through the county property appraiser's rolls to figure it out.
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