Taxes

Started by ThomasC2 • 2 replies • 1209 views

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ThomasC2 (Pennsylvania)
Posts: 26

Posted:

Is our HOA responsible for paying school and real estate taxes on our Community Center? We of course pay these taxes on our individual homes, but I thought our Community Center was exempt. I'm not sure whether our property manager has listed us as non-profit. The only income generated from the Center is rental fees for owners special events, (about $800.00 per year). We just received copies of the proposed 2008 Operating Budget and there is a line item listed as Fall Taxes for $7791.00. Thanks in advance for any guidance.
Tom

RogerB (Colorado)
Posts: 5,067

Posted:

Thomas, HOAs are not non profit; they can be incorporated by the state as a not-for-profit corporation by the assocition. The property manager can not just 'list' you as not-for-profit. You will have to discuss with the county assessor the evaluation and related tax on your common areas, including the Community Center.

ThomasC2 (Pennsylvania)
Posts: 26

Posted:

RogerB,
Thank you for your input. I'll forward your response to our property manager.

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