Budget Box:

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, repair and maintenance, along with capital expenses for the repair and replacement of 91 miles of roads, 22 miles of community paths, 89 miles of storm drains, and many other assets and expenses that are incurred for operations and repair throughout each year.

   The 2024 Annual Dues (Assessment) amount is $2,445 per lot. For each individual assessment, $1,397 is allocated to the Operating Fund, while the remaining $1,048 will be allocated to the Capital Reserves Fund. This annual amount of $2,445 was voted on by residents during the Annual Dues vote that occurred in April 2023. Also, during the vote in April, residents approved a 3% increase to assessment amounts for the years 2025 and 2026. Each year, a statement is sent by mail to every property owner during the third week of January and is due on March 1 of  each year.

There are several options for payment outlined on our website (https://landings.org/assessment-payments), including payment in full by cash, check, or electronically. You can click here to pay electronically. Monthly and quarterly payment plan options also are available. To enroll in either of these payment plan options, a preauthorized payment service authorization must be completed, signed, and submitted, along with a voided check from your banking institution, to debbiew@landings.org by February 21, 2024. If you were previously enrolled in either payment plan in 2023, 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 $637.34 and $254.97 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.