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Hello there --
There are no state minimums or maximums on raising assessment charges in any manner -- because your HOA has been given the power to organize and vote on its own governance, the Board of Directors can make the ultimate decision regarding the yearly amount to raise it and the overall amount to raise it. The only thing they must do is follow the written directive in the CC&R as you set it forth above. The way I am reading that language, the Board can compute the amount that has been due in any or all of the past ten years and add it to the current amount -- and there is no cap under state law so your HOA can increase the amount by what it should have been increased over the past 10 years (if it had been done at the 10 percent rate each year). However, the Board also has the power to vote in something less than the full 10 years increases in one year if they want to work it that way as well (so they might want to work out something where the assessments are raised incrementally over the next couple of years to meet the amount that it should have been if it had been raised during the prior 10+ years). Again, it is completely up to the Board, but they must have a majority vote and they should put the new assessment and manner of calculating it into the CC&R s as an amendment.
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