Looking at an upcoming county tax auction I see on the list few items which are timeshares. Tax delinquency amounts range from $1,200 to $1,700. Since counties in California normally wait for 5 years and also add high interest and fines, annual tax payment was probably around $150 (divide by 5 years and then by 2 for interest/fines). Since counties usually charge 1% property tax, timeshare weeks were assessed at around $15,000 which is $780,000 on the annual basis for one unit.
In this timeshare (as in most of them) units are stacked on top of each other into multiple floors, they are essentially condos. Housing values average $400,000 in this area.
How is the appraised value of a timeshare determined for the taxation purposes? How is this possible that the condo value is 2 times higher than the average value of the house in the area?
I was thinking that the $15,000 value is just taken from the TS price list which is a complete scam.
Sorry for throwing whole bunch of numbers at you, but they got me thinking about these things.