Property taxes on time-share units.

The Newport Daily News: "Outrage follows time-share veto

NEWPORT - City officials are in an uproar over Gov. Donald L. Carcieri's veto of legislation that would allow the city to change the way it taxes time-share developments.

The legislation is the latest attempt by the city to formulate what officials consider a more equitable way to tax the units. Since time-share ventures first sprouted up in Newport in 1982, the city has lost two court battles over its method of assessing taxes on the properties.

The legislation would have allowed the city to use 'any identifiable and commonly accepted methods of appraisal' to assess property taxes on time-share units.

In his veto message, Carcieri said the bill was 'nothing but a tax hike in disguise.'"

One thing in life is guaranteed...taxes just keep going up and up and up.

The West Coast’s leading vacation ownership company plans to develop a 14-story timeshare resort

The Timeshare Beat: Daily timeshare news: "Trendwest Resorts Announces Plans for New Flagship Resort in Anaheim, California

Press Release: Trendwest Resorts, Inc.
July 20, 2005
REDMOND, WA -- Trendwest Resorts, Inc., the West Coast’s leading vacation ownership company, yesterday announced its plans to develop a 14-story timeshare resort – the tallest ever built in the city - in the heart of Anaheim’s hotel circle. The resort, to be called WorldMark Anaheim, will be located on Katella Avenue minutes from world-famous Disneyland and will become WorldMark’s 14th resort in California.

“A new WorldMark resort in Anaheim, especially one of this scale and close proximity to the region’s world-renowned attractions, will be a great addition to our WorldMark network of resorts,” said Franz S. Hanning, president and CEO, Cendant Timeshare Resort Group. “Anaheim is a growing destination that many of our owners have long desired, and this is a prime location that will serve as an anchor for our growing presence in Southern California.”

The 253-unit WorldMark Anaheim will feature a combination of one-, two-, and three-bedroom fully furnished vacation condominiums, along with 12 luxuriously-appointed Presidential Suites. Each guest villa will feature a fully-equipped kitchen, spacious living areas, private balcony, washer/dryer and audio/video entertainment center with DVD player.

When not enjoying the many attractions surrounding the resort, WorldMark owners will have a variety of on-site amenities to choose from, including an outdoor swimming pool, children’s pool, exercise facility, game room and oversize spas. A spacious rooftop deck with three spas, five cabanas and other seating areas, will boast unobstructed viewing of Disneyland’s nightly fireworks show. WorldMark Anaheim will also include a five-level private parking garage, with complimentary overnight parking for owners and guests. The resort is ideally located adjacent to the planned Garden Walk complex, which wil"

The future has positive growth.

Timeshare Pros and Cons

Pros and Cons of timeshares

The timeshare industry has been widely criticized and even sometimes likened to a travel scam. Unlike the customary renting arrangement, where the customer decides every year on the quality and price of accommodations, timeshare requires to make a major payment up front. However, this payment guarantees the highest quality of holiday accommodation for life. There exist grave doubts as to whether the timeshare buyers ever recover the money spent, but the vast majority of timeshare owners have no desire to exit the system and find the high quality of their holiday accommodation makes their financial outlay a logical expenditure and excellent value for money.

There are also some complaints that owners have to return to the same resort every year, but there now exist a couple of companies - the best known being RCI - that enable timeshare owners to exchange their weeks into literally thousands of high quality resorts around the world.

Other complaints include issues surrounding the yearly maintainence fee. Some critics talk of ever escalating fees that mean owners cannot afford to keep their weeks due to financial pressure.

One of the major benefits of the product is the fact that vacation timeshare is real property. Resort developers purchase land in a location and develop a timeshare resort. They are actually selling consumers deeded weeks of real property at a specific location, meaning customers can do what they wish with the weeks they own. This flexibility includes the opportunity to rent out weeks that are not used or indeed to lend them to friends or family.

Like any other product, timeshare exchange is subject to the law of supply and demand making the exchange mechanism a fair and meritocratic system. For example if you own a studio apartment in low season you are unlikely to be able to exchange into a villa during a country’s high season. These restrictions are logical and a pure example of the “you get what you pay for” maxim."

Theres Pros and Cons with everything...why should timeshare be any different?