 Grand Timber Lodge Property Updates
Due to the high volume of incoming phone calls and our commitment to providing timely and superior service, GTL has recently opted to expand its staff with full time hotel operators. With this new position, owners and guests will be assisted in a more efficient manner both when calling into the resort for general information as well as when requesting housekeeping and maintenance items when staying on property. GTL looks forward to the positive changes that this new position will bring about on property.
Have you ever found yourself at the end of a great day of skiing and need to do a quick tune of your equipment but don’t want to go into town? Good news: Grand Timber has set up a ski tuning bench just outside the maintenance office located in garage 6. You will need to provide your own wax. If you didn’t bring wax with you, not to worry, you can purchase it from Christy Sports.
New this year, Christy Sports is now offering Grand Timber guests the opportunity to charge services, equipment rental and purchases to the room, eliminating the need to carry cash or put the charge on your credit card. Upon check-out, all charges incurred while on property will be listed on one receipt and one credit card charge, making tracking your expenses much easier while visiting on vacation.
In an effort to better manage the use of the ski lockers on property here are a few tips:
- There are lockers located between Buildings 1 and 2
- In the garage of buildings 5, 6, 7, and 8
- Outside of Christy Sports
- Ski lockers are not to be used by owners visiting the property for day privileges
- Ski lockers will be cleaned out on a weekly basis
As you cannot keep ski equipment in your unit, please remember to utilize these convenient ski lockers.
Property Taxes on Grand Timber Lodge units
Many owners have requested that there be a line item on the dues billing for property taxes that states which part of the yearly association dues is for property taxes deductible on individual income tax returns. Unfortunately, this subject is more complicated than it appears. The amount included in dues is an estimate of what the Homeowners Association expects to owe in future periods. Taxpayers may deduct the amount of tax actually paid in the tax year.
Another oddity is that the Summit County Assessor’s office does not value all units equally. Among 2 Bedroom units, there is a slight variance on the assessed value of one unit versus another; the same holds true for 3 Bedroom units. Since the Grand Timber Lodge weeks are floating and any one owner can theoretically use any unit, we believe it is easiest and most equitable to arrive at an average property tax amount for 2 and 3 Bedroom units.
The amounts deductible for 2011 Income Taxes is the amount paid by the Homeowners Association in 2011. The average amounts paid for 2011 on Grand Timber Lodge units are:
2 Bedroom 3 Bedroom
Real Property Taxes Full 48.25 63.46
Personal Property Taxes Full 1.18 0.98
Real Property Taxes Bi-annual 24.13 31.73
Personal Property Taxes Bi-annual 0.59 0.49
Another thing to consider is that the amounts paid in 2011 were for property taxes assessed in 2010. We are not able to advise you on your personal income tax preparation, but these amounts and documentation should provide enough information for you and your personal tax advisor to make and informed decision on what to deduct for 2011.
Good luck! |
