Summary
The Board of Directors at the October 8th meeting approved a 6% increase in the annual association membership assessment for 2025. While annual inflation is expected to be near 3%, additional funds are needed in our Capital Reserve. The 2025 assessment is $350 dollars per lot, that’s a quarterly payment of $87.50. This is an increase from the 2024 annual assessment by $20 per Lot.
Why is the 6% Increase Necessary?
The increase is necessary to address inflationary increases in goods and services, as well as to provide an increased rate of funding to the Capital Reserve. Road maintenance is scheduled for 2027, and the schedule of required funds for this capital expense needs to stay ahead of the pace with inflation, to avoid a special assessment for road maintenance.
Where does the money go?
Our three greatest expenses are Management Fees (31%), Reserve Funding (26%), and the Landscaping costs (24%), respectively. Three-quarters of our annual dues are allocated to managing the business of the HOA and landscaping services for the common areas; the last quarter goes to the Reserve Fund.
