I have a timeshare which I never used. I stopped making the cleaning fees payments since 2006. I just received a bill from the city charging me for taxes on the timeshare. What may be the consequences if I do not pay the city tax for the timeshare? Will they sue me or will I go to jail?
2007-06-21 06:53:13 · 3 answers · asked by Rosie 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
More than likely they will file a tax lien on the timeshare, and eventually file in some form of land court to take over ownership of it. In that case you'll lose whatever you've put into it over the years. Your best bet is to try and sell it if you really don't want it anymore. Now, on the other hand, if you're willing to give it away, I just might be willing to take it off your hands; depending on just where it is and what time of the year you have it for.
2007-06-21 06:58:36 · answer #1 · answered by Anonymous · 0⤊ 0⤋
They're not likely to sue you, and you won't go to jail, but eventually they `could just seize the timeshare for nonpayment of taxes.
Have you tried to sell it? I know the market for timeshares isn't strong, but even if you sold it for a low price it's better than nothing or having it taken for taxes.
2007-06-21 07:12:36 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
They'll slap a tax lien on it and eventually auction it off.
The management company will do the same for the cleaning fees, by the way, so if you want to keep it you'd better get your checkbook out pronto!
2007-06-21 08:07:15 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋