Notification of Increase in Assessments
Hi Dennis!
Is there an HOA law on how or when a community is to be notified if their assessments are going up? Meaning, do they (the board) have to issue a formal notice (letter/communication) saying that assessments are going up on X date by Y amount?
I looked in our CC&Rs and sadly they are pretty vague and A LOT is left to interpretation.
I tried searching but honestly, it’s a rabbit hole and the more I read the more I honestly am unsure.
I would think they have to give formal/written notice so folks can plan ahead (i.e. if they do direct pay) but I couldn’t find where it was required either in our CC&Rs or a law.
Thanks!
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Lori,
Unfortunately, there is no help for you in state law either. In a planned community the association board gets to prepare and approve the annual budget without any input from the members other than from those present at the open meeting where they approve that budget. The actual assessment is the direct result of the approved budget. If the total budget goes up the assessment goes up. Obviously, the association must inform all the members of the new assessment value prior to the due date at some time so that members know what they owe. There is no law mandating the timing of that notification. This is common sense and necessary for any business but is not addressed in statute. Unfortunately, there is far too little common sense in anything done in these communities, when lawyers are involved.
Dennis