acessments

Started by GeorgeJ4 • 5 replies • 1097 views

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GeorgeJ4 (Ohio)
Posts: 5

Posted:

Are acessments still legal in Florida without a vote of members?

SheliaH (Indiana)
Posts: 6,964

Posted:

That's a legal question - ask an attorney.

But first, save yourself some time and possibly money and READ your documents to see what they say. Some may require the homeowners to approve a new budget, while others authorize the board to set assessments up to a certain percentage or dollar amount over the current year without homeowner approval.

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

SheliaH (Indiana)
Posts: 6,964

Posted:

I forgot to mention even if there is a law, it may only apply to associations that were established after a certain date - if your association is older than that, the governing documents would likely apply. You may want to check if your state government has an online database where you can search for specific state laws and do a search or two for HOA law and see what comes up.

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

DouglasK1 (Florida)
Posts: 2,046

Posted:

There are separate Florida statutes for condos (718) and HOAs (720), so you would need to refer to the correct one for answers.

Your question is very vague about the type of assessment but I'll try to add to what Shelia said.
Regular annual assessments are determined by the board via the budgeting process. Your governing docs may limit how much the board can increase year over year without member assent, I don't think statute 720 has any limits, I'm not sure about 718.

Special assessments are also determined by the board as needed. Statute 720 does not require member assent that I could see, again not sure about 718. Your governing docs might have some additional requirements, however.

Escaped former treasurer and director of a self managed association.

LoriM10 (Florida)
Posts: 1

Posted:

aside for the governing documents. Does Florida 720 require that the owners be notified when the Board will be discussing at a board meeting to raise the assessment for the following year?

SheliaH (Indiana)
Posts: 6,964

Posted:

Here's a link to the statute - read it and see what it says. And check your governing documents as well

http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0720/0720ContentsIndex.html

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

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