Timberhill SE
1st Addition
HOA
Dues and Fees
What is covered in the annual homeowner dues:
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The HOA Board attempts to maintain annual dues to a nominal amount, with an objective of paying reasonable fees for services such as parks lawn mowing and irrigation repairs. Other costs will fluctuate with current prices, including water utilities and insurance. Many other maintenance issues handled and serviced by HOA volunteers help keep expenses minimal.
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Administrative costs to manage the HOA cover newsletters and account statement packets, notices, taxes, website hosting, county recording fees, annual picnic supplies, and miscellaneous Board expenses.
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Liability insurance is mandatory for the parks and common areas, and for the Association Board. Reserve funds are necessary for unexpected emergencies, that have included ice-damaged tree limb removal and sidewalk replacement. Larger maintenance projects such as park improvements, diseased tree removal, and asphalt repair are budgeted in advance, when possible.
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The HOA fiscal year covers January 1 to December 31. Budget & expense documents can be requested by contacting our treasurer at treasurer.timberhillsehoa@gmail.com.
Schedule as of 2023
Homeowner dues (typically billed in March)................$90 per year
Overdue payments - late fee (after 30 days)................$5
Overdue payments - interest applied to unpaid
balance on December 31 .....................................8% per year
Checks returned for non-sufficient funds.......................$25
Lien filing fees ...............$150 minimum or actual
(attorney services, recording, mailing)
Homeowner dues for Association services are billed on an annual basis, and cover the current calendar year.
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Statements are typically mailed in March, included in a packet with the annual meeting minutes, budget report, current Board and Committee members, as well as pertinent notices regarding neighborhood issues, projects, and regulations.
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A late fee of $5.00 is assessed on any unpaid account balance 30 days after the statement deadline date. A second notice/statement is mailed, reflecting the new balance.
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No further notices are sent during the current year, but 8% interest is assessed on any unpaid balance effective December 31. This new balance will show in the next year's statement as an overdue balance.
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If any account is 3 or more years in arrears, a third notice is issued, giving notice that failure to pay the balance within 30 days (or as stated) will automatically initiate a lien process against the homeowner.
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The lien process involves employing the services of an attorney, who handles all further contact and legal protocol, becoming the liaison between homeowner and HOA. A lien remains in effect until complete payment is received, and accrues 8% annual interest on any unpaid balance.
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