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What are the rules in Georgia on HOAs raising dues. My hoa…

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What are the rules in Georgia on HOAs raising dues

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My hoa raised the dues without a majority vote of 2/3 of the property owners. I’ve read that the hoa must get at least 66 2/3 approval of all home owners.

Submitted: 20 days ago.Category: Real Estate Law
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4/2/2018
Real Estate Lawyer: KLAW, Arbitrator replied 20 days ago
KLAW
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Real Estate Lawyer: KLAW, Arbitrator replied 20 days ago
A little background. The provisions for paying annual dues are contained in the Declaration of Covenants for your association. The Declaration of Covenants is filed on the deed records in your county’s Superior Court. You automatically agreed to the terms of these covenants by purchasing your home.
The amount of the annual dues or “assessment” is determined each year by the Board of the Association. To protect the interests of both the homeowners and their lenders, the covenants often establish a maximum assessment based on the anticipated costs for maintaining the community. Usually, this maximum cannot be exceeded without a vote from the membership, but some covenants allow the Board to increase this amount each year by a specific percentage, or in step with the Consumer Price Index.So, you need to look at your governing documents. If your documents are silent on limiting increases, then your HOA defaults to the provisions on how the budget is computed. If that is up to the board, they can increase the dues as needed.The governing documents will also indicate whether the members must approve the budget, whether they can vote down the budget, or whether the members have no say beyond the right to replace the board members. Each set of documents is a little different, and yours may have provisions that are unique to your property.I hope this clarifies. Please don’t forget to rate the question with stars. We as attorneys are not employees of Just Answer and are not paid unless you rate the question with stars.
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Real Estate Lawyer: KLAW, Arbitrator replied 19 days ago
If you have any other questions please just ask
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