NCV tax bill

I just got in a new tax bill. I have an EOY which I bought for under 10k in 2007 and paid about $100 in taxes for the year. Now, it says I have a new base year rate of $18,000. The previous tax base rate was $9,000, and now the supplemental assessment is $9,000. Did anyone else have their base value double?

Jim, are you sure this is a bill? I've received notices from the assessor for my Avila Bay timeshare that aren't actual bills, just updated assessments of some kind. The actual tax bill hasn't really changed much when I eventually get it around October each year. Unless it is an actual bill, I'd ignore it.

Not a bill, but the notice says they will bill me in a few weeks. I tried to call, but was on hold for 15 minutes. Will try again tomorrow then file an appeal. I am wondering if anyone else had their base doubled.

Ours did not.

Why do you think you can get 'a deal' and then not pay taxes on the true value as established by the County when they are sending out the tax bills? Just curious

Cathyb said:

Why do you think you can get 'a deal' and then not pay taxes on the true value as established by the County when they are sending out the tax bills? Just curious

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Going with your true value tax, CA is charging a bit over 1% correct? If someone buys a every year NCV from Marriott for 34,000, the yearly taxes would be $340 plus. Does anyone pay that amount?

JimIg23 said:

Going with your true value tax, CA is charging a bit over 1% correct? If someone buys a every year NCV from Marriott for 34,000, the yearly taxes would be $340 plus. Does anyone pay that amount?

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I got the same thing. I bought 8 platinum weeks on the resale market for $16,000 all passed Marriott ROFR and now the county is trying to tell me they are worth $30,000. I have explained to them that the weeks are not developer weeks but they have no idea what I am talking about.

I am calling the Chair person of orange county assessors office and see if I can get somewhere. If not I will need to appeal. I thought Prop 13 covered this but I guess not.

As far as I know, CA property taxes are based on sale price, not value price unless and this is for home, you renovate at which time your house gets reassessed fair market value (or something close) - which then really can potentially increase your property taxes significantly.

Further, RE taxes at NCV for developer intervals are based on a formula Marriott worked out with the OC assessor. Ours were only assessed at .66 of sale price and go up per Prop 13 each year..

Kind of odd to get a supplimental assessment notice this time of year, isn't it? Don't tax years run July 1 - June 30?

Here's my post on the numbers from a couple months ago

http://www.tugbbs.com/forums/showpost.php?p=452976&postcount=6

Pat

I could understand .66 of the developer price, because I am sure there are dozens of Marriott ROFR purchased resales that are no way near developer price. I would think Marriott would not want this to happen and would also talk to the county, because it seems $340 in taxes per week is much higher than any other TS they sell and that can be a very negative for sales.

camachinist said:

Kind of odd to get a supplemental assessment notice this time of year, isn't it? Don't tax years run July 1 - June 30?
http://www.tugbbs.com/forums/showpost.php?p=452976&postcount=6

Pat

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Pat,

Since I purchased mid-2007, they reassessed it and sent a supplemental assessment.

Yes, we got that gibberish the year after we purchased, due to not getting a tax bill in year of purchase, even though we purchased in February. The ultimate tax bill was still correct.

http://egov.ocgov.com/portal/site/o...110VgnVCM1000000100007fRCRD&vgnextfmt=default

The appeals process can be done online.

I still assert that taxes should be assessed no more than .66 of current developer price, regardless of source, unless they've changed the governing documents. The verbage for that was in ours, buried. The documents on a resale flow from the original purchase. I saw (but will have to review to be sure) no mention of resales being treated differently.

We've seen no such reassessment notice on our intervals.

Pat

Pat

Why should a person who buys "resale" be entitled to lower property tax assessed values vis-a-vis a person who buys the exact same thing from the developer, if the purchase is made on the same date? The value of the property should be based on the value of what the developer sold the property to the original buyer, not for what it is purchased for on the secondary market.

Why should those who buy resale also reap the benefits of not only paying much less that the developer price for the TS but also benfit from a lower tax base for the exact same fractional ownership of the property? IMO, it would be a nightmare for the county tax assessors office to try and keep track of the value of each and every fractional owner individual purchase price. They are not that smart!

Calif Property Tax

I went round and round with the tax assesor in Riverside on my DSV I unit I purchased resale because I thought I was being overcharged. I even had a hearing scheduled that I cancelled because it was taking up too much time.

Basically it came down to the 1% tax rate (Proposition XX) is based on FMV and not sales price. I was provided documetation from the Riverside Co appraiser on this. Yes selling price is used in looking at the value, however when they have timeshares they must look at all the similar units and all the selling prices. They look at all the similar units, throw out the highs and lows and then come up to an average FMV. That is the value you are assessed. You should also notice that if you buy a new one from the developer in CA it is not assessed at 100% of what you paid (At least not in Riverside Co). He said they start by taking off about 30% for developer and selling fees.

It doesn't quite seem fair but its the way its done in Riverside Co.

I spoke to them today. they said 18k was FMV, but they did not know if was for an EY or EOY. Since I have an EOY, they said they will check and call me back. We'll see.

I agree with Pat, 66% of the developer price seems fair, and also seems in line with what I have seen here in TUG as far as the amount of taxes people pay.