In the 2020 February annual meeting, the members were provided with documentation that shows the costs we are currently incurring now and the effect of our revenues long term. It was voted on in that meeting to have every new member of the HOA pay a fee of $50/month, up from the standard $12/month that was in place for years. Those fees are active beginning on July 1, 2020, based on the sale date of the county assessor’s records. The vote to make that change was unanimous.
This will result in a gradual increase in revenue for the HOA of a few thousand per year, which would get the HOA back to the margins previously realized. The goal is to continue to build up reserves to ensure that in the event of any major repairs, we could cover the costs out of the general funds of the HOA, and not be forced to go back to each member for a significant amount to make up any gaps.
These rates had not been changed for many years, and even with the change are very much on the low end of fees of most HOA's.
The HOA also in their February 2021 meeting passed a transfer fee assessment of $500 per new homeowner in the HOA. This fee does NOT apply to refinance, estates or other in family transfer. It only applies to the sale of a home to new owners within the HOA.
Current homes have their monthly HOA assessment fee placed on their water bills and the city reimburses us for those fees each quarter.
*Title companies are being asked to collect this $500 assessment fee during the closing process and send a check to the HOA.
Purchased on or before June 30, 2020: $12/month
Purchased on or after July 1, 2020: $50/month
Purchased on or before June 30, 2021: $0 transfer fee
Purchased on or after July 1, 2021: $500 transfer fee.