Posted by Charles_Ca on 10/3/06 11:34am
Msg #149961
OT Ca proposition 88 new tax on time shares
I just recevied a notice about a little known proposition in California's upcoming eslection. Timeshare owners would have a disproportionately skewed tax if this passes.
As a timeshare owner, we want to warn you about a proposed property tax which unfairly targets timeshare owners in California.
On the November ballot this year is Proposition 88, which if adopted by voters, would impose a $50.00 tax on every time share interval. According to our analysis, the owner of three one week intervals, for instance, would be subject to $150.00 per year in new taxes.
Not only is this a burdensome new tax on your timeshare, it is also grossly unfair because it would be exactly the same amount for a single one-week time share unit as for an entire oil refinery, huge shopping center or a $5 million mansion for the entire year. Additionally, it is a tax of indefinite duration - put another way, this tax would last forever.
Timeshare owners are the very hardest hit of all property owners under Proposition 88! If you owned a regular condominium unit, you would pay $50 a year. If you own one week of use in that unit, you pay the same $50! Each time share unit will have the tax multiplied by 52 weeks, or $2,600.00 a year. And remember, this is not just a one-time tax – this tax must be paid every year that you own your time share interest.
Unlike other property taxes, this new parcel property tax takes only a 50% vote to pass (most property taxes take a two-thirds majority vote to pass under Proposition 13).
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