Financial News

No Property Taxes in Florida?

Florida legislators are considering a plan which would eliminate property taxes for all primary residences in favor of a 2.5% increase in state sales tax.  Sadly timeshares and other vacation homes are excluded from the proposed plan.  If adopted, DVC members would continue to pay property taxes on their ownership, and be subject to 8.5% sales tax on purchases made at Walt Disney World.

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No Tax Break for DVC Members

In an attempt to ease the tax burden on residents, Florida recently passed a law requiring municipalities to cut 3-9% of their property tax collections.  However, the law includes a provision which allows a municipality to avoid the tax cut with the approval of 2/3 of its governing body. 

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DVC is extending the usage deadline for Developer’s Points acquired in recent new and add-on purchases.  Any Developer’s Points must now be used within twelve months of committing to the purchase, up from the previous seven months.  Reservations cannot be made until seven months from the check-out date, but owners of the points have a full 12 months in which to ultimately use the points.

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