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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15732
Experience:  15years with H & R Block. Divisional leader, Instructor
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About luxary taxes due on time share at time to purchase or

Customer Question

about luxary taxes due on time share at time to purchase or upgrade?
Submitted: 2 years ago.
Category: Tax
Expert:  Robin D. replied 2 years ago.

If you're a "deeded" owner (you co-own the unit, not just a block of time to use) the local government will require you to pay for property tax. You can deduct property tax payments, under the same rules as you take it off on your primary home.

Taxes based on the value of the property are deductible.

Taxes that raise money for improvements that benefit the time share are not.

I hope that addresses your situation, if not please respond below before you rate.

Expert:  Robin D. replied 2 years ago.
Please advise if you need more information.