Timeshare Property Taxes are under a microscope as legislation is under consideration again. Timeshare Property owners, Wyndham Destinations Inc., Hilton Grand Vacations Inc., the Walt Disney Co.’s Disney Vacation Club, and Marriott seek to save million in taxes.
Ellyn Bogdanoff, a lobbyist hired by Marriott’s Grande Vista, which is run by Marriott Vacations Worldwide Corp, wrote the legislation. The bill aims to lower timeshare values and thus the taxes paid by their owners. Owners could save $170 million dollars in paid taxes. The bill addresses how timeshare resales are factored into property valuations. This bill being proposed would according to those who oppose saying it would cost cities, counties, and schools millions of dollars.
Orange County Property Appraiser Amy Mercado and Osceola County Property Appraiser Katrina Scarborough are both against the bill, which would have the biggest impact in tourist-heavy Central Florida, which has more timeshares than any other part of the state.
This argument over “we pay too much taxes” from the Timeshare industry has been going on for many years. Most recently the Osceola County property appraiser won a court case against Wyndham timeshares. The case upheld how Osceola County appraised the properties.
There is no word yet on how DVC members would be affected by the timeshare property taxes change being proposed.
This bill is too be discussed for the first time Tuesday by state lawmakers in the Senate Regulated Industries committee.
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