FAQ

Yes, the Board of Directors establishes a budget in the 4th quarter for the upcoming year.  The annual assessment is then determined based on the budget and any reserves that are needed.  Homeowners are notified by December 15th, and the assessment is due by January 15th.  Failure to pay the assessed dues on time can result in late fees, interest at 8%, and the HOA's cost of collection including legal fees.  Ongoing unpaid assessments can lead to a lien being placed on the delinquent property.