Well, it’s almost that time again – Assessments. Recently the BOD approved the 2020 budget and assessments have been increased, but only by a little bit. We used the ECI (Employment Cost Index) as a guide, as we are trying to not have to raise Assessments by such a large amount as last year when we were playing catch up. The ECI is 2.9% which will raise the yearly Assessment by $9.92 a year totaling $351.92 ($0.96 a day/$29.33 a month)..
Unfortunately, we also have to go back to the original due date of 01 January. The 31 March due date was a test we tried out for several years, hoping that the later date would reflect more Assessments paid on time (allowing tax refunds to come in, time to recover from Christmas, etc.). Alas, it did not work, and with the later date, we risk being at a deficiency for the first 3 months of the year.
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We truly hope you will understand the reasoning behind these decisions.