Possible property tax refunds

[DebbieB]

You sell your property and you sell the right to refunds like these. They’ll go to the new owner.

I bought VGC in early 2020. There was only one 2020 point, so the seller paid 2020 dues. I can’t remember if there was a tax refund but I got the Covid close credit, which was substantial because DL didn’t open until 2021.

 

[drusba]

Is the litigation just related to the parks and related lodging (Disney, Universal, Seaworld, Fun Spot America, Gatorland, etc) or also other timeshare companies (Marriott Vacation Club, Club Wyndham, Hilton Grand Vacations, etc)?

The litigation mainly involves companies with combined resorts and parks, since what has been going on was, starting with county assessor Singh in 2016, mostly due to adding assessed value to hotel properties based on their being near vacation parks. I know universal and Sea World have also made like claims. But other companies like Marriot and Wyndham, by being close to a park, may have a similar issue. The actual total amount of improper taxes at issue, for all years and all parties claiming improper assessments, is estimated to be about $17 billion.

Assuming future recovery by Disney relating to DVC resorts (the new decision involves only Yacht Club), then, as noted above, owners who no longer own DVC will not be entitled to any part of the recovery when it is received. The property taxes are actually something the DVC association is responsible for, and the amounts payable by members is determined by estimating the amounts that would be owed by the association (and Disney if the resort is a combined DVC and non-DVC resort) that is then charged to members according to their share of the particular ownership interest. It is the association that would be entitled to any recovery, not any former owners. If there is any future recovery, it will likely be used to reduce future dues.