Tax Time

If you’re lucky enough to be a Lake Geneva vacation home owner, then you’re unlucky enough to be unwrapping Walworth County’s most untimely gift: Your property tax bill.  When I’m elected supreme ruler of Walworth County, I will change our fiscal year so that you receive your tax bill on July 6th.  While draped in young summer you’ll find the tax bill to be a worthy pittance. Something to be celebrated over brats and charcoal. Why yes, I will pay this ungodly sum of money today! That’s what you’ll say. And you’ll be happy, because you’ll look around and feel the scene and understand that it’s all worthwhile. In early Winter, summer is so very far away, and the tax bill now appears as one last and final insult to the heap that is our year end.

About those taxes. With legislation in Washington DC spiraling towards completion, there are potential changes afoot for the way we’re able to deduct our paid property taxes. It seems as though the bubble of DC has decided it’s in our best interests to pay tax on tax, and who are we, mere peasants, to complain (I’ve complained a lot, and you should, too). With possible changes coming, it might be best to pay those 2017 taxes while it’s still 2017, rather than in two parts during 2018 as the invoice allows. Of course I’m not an accountant, so you should consult with yours, but this year, perhaps more than any other, it’s important to be paying attention.

And along those lines of paying attention, every year owners of Lake Geneva vacation homes miss the deadline for paying their property taxes. This happens through many different circumstances, but typically it has to do with the tax bill being sent to an address other than that which the property owner had planned. Perhaps the bill is being sent to your attorney, to your lake house address, or to the house you used to live in before you moved. The County is very callous towards your reasons, so it’s best to look up your taxes every December and be certain you have the bill and plan to pay it on time (or this year, as I mentioned above). To look up your tax bill, go here. It might be painful, and for that, I’m sorry.

If you purchase a Lake Geneva property this year, there’s an outside chance that your tax bill will be mailed to the prior owner. This isn’t really anyones fault, but it is annoying.  Rather than count on the prior owner to look up your address and mail you that tax bill, it’s best that you use the search link above, or contact the municipality in which you own your home and ask them for the bill. Be proactive, be aware, and don’t count on anyone to help you in the process. If you have no time to deal with these things, tell your attorney or accountant to handle it for you. They’ll like that.

Other year end bits to be aware of. Disconnect your hoses from outside spigots. Don’t forget. Leave your heat on at 60 degrees or more. If you need to keep the heat at 50, I’d suggest that you’re just begging for a pipe to break. Don’t do this, it’s a terrible, awful idea. I believe it’s called being penny wise and pound foolish, but I’m not British. Leave your heat warm enough so that your pipes don’t break, but also so that your tile floors and shower surrounds don’t crack. Warmth is good, please embrace it. If you need help with this, install a Nest (or similar) camera in your house, and a Nest thermostat. You can watch your house and your heat on your app. I’m building a tiny cabin in the outskirts of Nowhere, Wisconsin, and I have done this. If I can, you can, too.

Make sure your irrigation system is winterized. Your pool and hot tub, too. Your pier might not be out by now, but this is the burden of the pier company, unless you’re my dad and you’re intent on saving $110.89 by removing the pier boards yourself. Turn an outside light or two on, not because we have crime like Harbor Country, but because it just looks better. You can spare the $.80 per month to leave a few exterior coach lights on. Your neighbors will appreciate your concern for the exterior mood lighting.

Can you see what I’ve done here? I’ve played right into your hands. I’ve given you a list of things to do under the supposition that you won’t be at your lake house this winter. And in that, I’ve caught you. Missing out on winter at the lake would be a most egregious sin, tantamount to willingly paying tax on tax, or leaving your heat on at 48 degrees. You should be here, no matter the month. Ski here. Rest here. Go to fish fry here. If you didn’t want to visit your vacation home in the winter you probably should have bought one in Michigan, or Door County.

 

About the Author

I'm David Curry. I write this blog to educate and entertain those who subscribe to the theory that Lake Geneva, Wisconsin is indeed the center of the real estate universe. When I started selling real estate 27 years ago I did so of a desire to one day dominate the activity in the Lake Geneva vacation home market. With over $800,000,000 in sales since January of 2010, that goal is within reach. If I can help you with your Lake Geneva real estate needs, please consider me at your service. Thanks for reading.

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