[Adopted 3-18-2014 Select Board (Title XV of the 1980 Code)]
The purpose of this article is to facilitate the collection
and payment of property taxes on time-share estates.
This article is enacted by the municipal officers in accordance
with 33 M.R.S.A. § 593(4). This article governs the taxation
of any time-share estates determined by the municipal officers in
the Town of Ogunquit.
As used in this article, the following terms shall have the
meanings indicated:
ESCROW ACCOUNT
An account established and maintained by the managing entity
in accordance with 33 M.R.S.A. § 593(5).
MANAGING ENTITY
The time-share association responsible for management of
time-share estates or, if the association has designated an agent
responsible for the obligations imposed by this article, such agent.
TIME-SHARE ESTATE
Any interest in a unit or any of several units under which
the exclusive right of use, possession or occupancy of the unit circulates
among the various owners of the unit in accordance with a fixed time
schedule on a periodically recurring basis for periods of time established
by the schedule, coupled with a freehold estate or an estate for years
in a time-share property or a specified portion thereof.
TIME-SHARE OWNER
A person who is an owner or co-owner of a time-share estate
other than as security for an obligation.
This article shall become effective April 1, 2014, for taxes
assessed and billed for the Fiscal Year 2014-2015, which commences
July 1, 2014.