Budget Box: Annual Dues (Assessment)

By Karl Stephens - karls@landings.org
General Manager/COO

Each year, property owners are assessed an amount for Annual Dues. These Annual Dues support the Operating and Capital needs of the Association, and account for 55% of the Operating Revenue.

Examples of operating and capital expenses that your Annual Dues support include staffing, landscaping, general liability insurance, utilities, dredging, repair and maintenance, along with capital expenses for the repair and replacement of 91 miles of roads, 30 miles of cart paths, 47 miles of storm drains, and many other assets and expenses that are incurred for operations and repair throughout each year.

The 2023 Annual Dues (Assessment) amount is $2,270. This amount is voted on by residents for a three-year period, during the Annual Dues vote that last occurred in October 2020. A new vote will be held this year to establish Annual Dues for 2024-2026. A statement is sent by mail to each property owner during the 3rd week of January and is due on March 1 each year.

There are several options for payment that include payment in full by cash or check or electronically by visiting our website (www.landings.org/assessment-payments) and click here.

Monthly and quarterly payment plan options are also available. To enroll in either of these payment plan options, a preauthorized payment service authorization will need to be completed and signed, along with a voided check from your banking institution and returned to debbiew@landings.org by February 21, 2023. If you were previously enrolled in either payment plan in 2022, you will automatically continue on the payment plan and do not need to complete the authorization form unless your banking information has changed. The amount that will be drafted for the quarterly payment plan is $587.44 and $235.00 for the monthly payment plan, beginning on March 1.


This article was originally published by The Landings Association on their website.

Visit landings.org to read the original article.