What is a Levy?
A Levy acts like a maintenance fee for points-club members. Because points members do not own rights to an actual property at which annual or biennial maintenance will be done, a Levy helps ensure that all properties in the points program are well maintained. It also acts as acts as a kind of membership fee. Essentially, it is the annual charge that members pay for administration of the club, in addition to any management charge or supplementary charge made for actual usage of a points week.
The term Levy can also refer to a one-time charge made to owners by a management company for unexpected costs, repairs or maintenance. This fee is over and above the annual Levy or maintenance fee and is assessed by the resort pro rata to interval owners. It is intended to defray expenses related to major repairs and maintenance. This fee is sometimes elsewhere referred to as a Special Assessment fee.