Frequently Asked Questions (FAQs)
On this page we will display some of the shareholders most frequently asked questions.
The City Council discontinued the Town of Ocean City's town-managed recycling program in 2010 to save one million in the town's operational budget during these tight budgetary times.
2. ONE TAX BILL FOR YOUR CONDO
Starting July 1, 2010 Ocean City Property Owners will receive only one real estate tax bill, which will list county, state and town taxes.
3. CHECK IN/CHECK OUT PROCEDURES
The day to day check in/check out procedures have remained unchanged. If checking out early please call Ocean Point 410-213-7144.
They clean the units and if they can start earlier than noon then that will help them finish earlier. Check Out Procedures
4. WHY DOES THE OWNER OF RECORD ON THE TAX INVOICES AND THE ASSESSMENT RECORDS APPEAR AS MARLIN COVE LIMITED PARTNERSHIP,
RATHER THAN THE INDIVIDUAL INTERVAL OWNERS?
It is a software problem. The Maryland Department of Assessment and Taxation can't list all the owners so they list the original developer's name, even if the developer is no longer active. They do this for all timeshares in Ocean City.
5. WHY HAVE THE UNITS' HOUSE PHONES BEEN TAKEN OUT?
At the last Board meeting we discussed ways to save money because of our uncertain financial situation. Considering that most, if not everyone, has cell phones, and it is a cost savings, a decision to eliminate the phones was made.
6. WHY DID MY DECEMBER 8, 2010 INCREASE IN QUARTERLY ASSESSMENT FOR FY 2011 LETTER ASK FOR DIFFERENT QUARTERLY DUES THAN WHAT THE ENCLOSED PROPOSED 2011 BUDGET SHOWED?
The budget was an attempt to explain some of our expenses for the next year even though we are not completely certain as to
the exact amount. If you notice in the Budget that he figured out everything through assessment collection only, but he did not factor in taxes to that amount in the budget...The budget is not exact to the amounts. I raised the assessments, because we did not also factor in the need to collect a full years of taxes in 3 quarters.
My Numbers are as follows:
1/13 2 br- 424.17;
1/13 3 bedroom- 455.83;
1/4 2 bedroom- 1033.33; 1/4
4 bedroom- 1109.17;
1/13 2 br- 517.49:
1/13 3 br- 556.11;
1/4 2 br- 1260.67
1/4 3 br- 1353.19
Old Income- $32409.96/Quarter x 4 quarters = $129639.84 in yearly income
New Income- $ 39540.28/Quarter x 4 quarter = $157639.84 in FY 2011 income
This is a increase of $28,000 for this years income.
This increase is important because we do not know how many total delinquents we can expect, how much legal fees are
going to ultimately be due to pursuing delinquents and or xxxxxx, and that we have to pay the taxes in July with no built up saving to speak of and
only 3 quarters to collect. This gives us some room to breathe at that time.
The accountant is almost finished with their date entry for your financials.
Please be patient, as it is a time consuming process and is likely to take even more time. As soon as I get more information from PKS the
accounting firm I will forward it to you ASAP. Hopefully this clears things up. The budget is different from the letter. But the budget does help give the
basics. Regards, Connor