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Is there a ceiling amount that a HOA can assess a neighborhood in one year?
Wiki User
∙ 10y ago
No.
However, if assessments exceed a certain percentage -- there is no standard -- qualified lenders may be entitled to notification, which may give some board pause to raise assessments to excess.
Assessments pay for the operation of the community. You can ask for an explanation of your annual budget in order to more fully understand how your assessments are being spent.
Wiki User
∙ 10y ago
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