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Re: Manhattan Club Lawsuit (by Chris V.):

gail,

this is not a response to your comments to john. i simply want to clarify one point which you might not have contemplated:

whatever municipal real estate tax you pay for the weeks you own at TMC are indeed paid in bulk by TMC. however, you can/should get a tax payment breakdown for your individual tax burden for income tax deduction purposes. i have done so in the past through the financial services office, and was given my separate tax amount obligation.

tulipblossom wrote:

John- obviously you do not understand the concept of what you have ownership in. We as individual owners do NOT get billed separately for the property taxes on the Manhattan Club property. There is one bill sent at the end of the year and the taxing authorities look to that entity, which is the Manhattan Club, to pay with one check. So, if the Manhattan Club which is us ( the time share owners) have no funds because you have advocated that all owners ceases paying the assessments,, the property will have a tax lien placed against it and it will be sold. End of story. There will not be a hearing where several thousand time share owners appear to contest the actions of Eichner in order to get relief from paying the property taxes. As far as what you outlined about some proposed settlement by Eichner later on, that is what has already transpired. There was a settlement agreement proposed and accepted and that issue is now moot. Zimmerman is approaching this on a case by case basis - not a class action suit. The one that the Attorney General was looking into dealt was a type of class action suit and there will be no "do over". Unless there are new grounds enumerated, there will be no rehashing of what was investigated by the NY Attorney General. My belief is that our assessments have been increasing in part because a lot of the owners have ceased paying their assessments. I am certainly not pleased with how they have increased either but if everyone stops paying their assessments, we will lose the building and the land. Think of it this way - you own a house with a variable mortgage interest rate on it and that mortgage interest rate continues to increase each year so you stop paying your mortgage- do you not understand that the bank will place a lien on your house and it will be sold? Or say your taxes go up each year so you decide to stop paying your taxes on your house - I can assure you, your house will have a tax lien placed upon it and it will be sold. That is exactly what will happen if there are no funds to pay the taxes on our building and our land known as the Manhattan Club. Is that what you would like to see happen?