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Thread: New tax imposed on timeshares in the US Virgin Islands

  1. #11
    Quote Originally Posted by chriskre View Post
    Well this really sucks for the owners.
    I was hoping to go to St. Thomas again next year.

    Are they trying to force these resorts into default?
    I imagine hotels would bring in alot more revenue
    than timeshares so maybe they want them gone.

    I'm seeing the same sort of sentiment here with
    the older timeshares. The land is just to valuable
    to leave as an old frumpy dumpy converted motel
    TS. I know my days are numbered in my little
    happy place in the sand. Trump already took one
    of my favorites here in Miami beach and Hollywood
    beach is just up the road where the new Margaritaville
    is.

    Even my home condo where I live is being eyed by the
    Russians. We are just sitting on a much too valuable
    piece of real estate. I'm afraid our days are numbered
    here too. I just hope we can cash out big time when the
    day comes. It won't be cheap to replace this lifestyle.
    With full ownership condos I think you're more likely to get a payday if the land gets valuable enough. Owners have a big enough stake that you can get people to vote and pay attention to any funny business.

  2. #12
    Goomba & Super Moderator tonyg's Avatar
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    Most people don't own in the town they live in, so hitting the timeshares with as big a tax as possible is not something there will be lots of complaints about. Timeshare owners often pay more than they should for taxes. They don't use many services that the locals get, particularly taxes that go for schools. Timeshare valuations are also often higher than they should be, particularly when resale values are low. Timeshares are a good deal for the local taxing authority and bring lots of money into the local and surrounding areas.

  3. #13
    There are two lawsuits filed against the USVI government re this new occupancy fee. One by ARDA and other one by Ritz owners, can find them if you google.

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