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ASSESSMENTS
Each Owner
of any Lot or Living Unit in Tipton Lakes is responsible for paying
to the Association assessments on his respective property to help
fund the Association's operations. Assessments are a charge on the
Lot or Living Unit, are a continuing lien upon the property, and
are the personal obligation of the Owner.
The Annual
General Assessment is applied uniformly to all Lots or Living
Units. The General Assessment funds the administration of the Association
and the maintenance and operation of the Common Areas and recreational
amenities which all Tipton Lakes residents enjoy.
Annual Cluster
Assessments are established for each Cluster to provide
for services and maintenance of Cluster Common Areas and facilities
unique to the particular Cluster.
Initial
Maximum Allowable Annual Assessments for the general fund and
for the Clusters are determined through detailed budget projections
and established in the Declaration and Supplementary Declarations.
The maximum allowable assessments are adjusted each year by the
Consumer Price Index, and in any given year the Board may not set
an actual assessment greater than the adjusted maximum allowable
without a vote of the homeowners.
Annual assessments
not only fund ongoing operations, but are reserved, to pay
for long-term major repairs and replacements of certain Common Areas
and facilities, such as lake dredging and tree replacements, or
in some Clusters re-roofing and building painting. The amounts set
aside are calculated to ensure that adequate funds will be available
when the work needs to be done.
Such things
as emergency lake repairs, operating emergencies, or capital improvements
desired by the Association not otherwise covered by operating funds,
reserves or insurance may create the need for Special Assessments,
but only if certain voting procedures are followed and limits observed.
Tipton Lakes
Company also helps fund the Association's operations through payment
of a Developer Assessment calculated on the basis of a formula
designed to phase the assessment out gradually as the land at Tipton
Lakes is developed and the Association grows. This formula is illustrated
on each year's budget.
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|
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|
2008-Year |
|
2008-
Quarter |
|
2008- Month |
|
|
|
|
|
|
|
|
|
| TLCA GENERAL ASSESSMENT: |
$ 516.00 |
|
$ 129.00 |
|
$ 43.00 |
| TLCA Cluster Assessments: |
| Woodcrest Villas |
1/ |
|
1,896.00 |
|
474.00 |
|
158.00 |
| Harrison Ridge |
|
|
16.00 |
|
4.00 |
|
1.33 |
| Harrison Green |
|
|
276.00 |
|
69.00 |
|
23.00 |
| Carya Square |
|
|
264.00 |
|
66.00 |
|
22.00 |
| The LookOut |
2/ |
|
- |
|
- |
|
- |
| Northlake Shores |
3/, 5/ |
|
456.00 |
|
114.00 |
|
38.00 |
| Lexington Green |
6/ |
|
- |
|
- |
|
- |
| Coles Cove |
2/, 3/ |
|
- |
|
- |
|
- |
| Shadow Bay |
3/ |
|
296.00 |
|
74.00 |
|
24.67 |
| Fleetwood's Corner |
3/, 6/ |
|
- |
|
- |
|
- |
| Butternut Pond |
|
|
512.00 |
|
128.00 |
|
42.67 |
| Winterberry Place |
|
|
88.00 |
|
22.00 |
|
7.33 |
| Shoreview |
3/ |
|
344.00 |
|
86.00 |
|
28.67 |
| Mallard Point |
3/ |
|
484.00 |
|
121.00 |
|
40.33 |
| Timber Ridge |
3/ |
|
104.00 |
|
26.00 |
|
8.67 |
| Northlake Woods |
3/ |
|
100.00 |
|
25.00 |
|
8.33 |
| Fontana |
3/ |
|
860.00 |
|
215.00 |
|
71.67 |
| Bittersweet Woods |
|
|
252.00 |
|
63.00 |
|
21.00 |
| Blackhawk |
|
|
136.00 |
|
34.00 |
|
11.33 |
| Oakbrook |
|
|
48.00 |
|
12.00 |
|
4.00 |
| Pintail Point |
3/, 4/ |
|
372.00 |
|
93.00 |
|
31.00 |
| Stonebridge |
3/ |
|
248.00 |
|
62.00 |
|
20.67 |
| Turtle Bay |
3/ |
|
288.00 |
|
72.00 |
|
24.00 |
| Westlake Park |
|
|
316.00 |
|
79.00 |
|
26.33 |
| Greystone |
|
|
424.00 |
|
106.00 |
|
35.33 |
| Pintail Landing |
3/ |
|
352.00 |
|
88.00 |
|
29.33 |
| Waterside |
3/ |
|
392.00 |
|
98.00 |
|
32.67 |
| Preserve |
3/ |
|
320.00 |
|
80.00 |
|
26.67 |
| Sycamore Ridge |
6/ |
|
- |
|
- |
|
- |
| The Cape |
3/, 6/ |
|
- |
|
- |
|
- |
| Treeline Hills |
6/ |
|
- |
|
- |
|
- |
| Westlake Hills |
3/ |
|
- |
|
- |
|
- |
| Horizons West |
7/ |
|
- |
|
- |
|
- |
EACH TIPTON
LAKES OWNER PAYS GENERAL ASSESSMENT FEE.
IN ADDITION, CLUSTER FEE, LAKE MAINTENANCE CONTRIBUTION, AND SEPARATE
ASSOCIATION FEES ARE PAYABLE WHERE APPLICABLE, SEE NOTES BELOW:
- Includes most exterior maintenance, snow removal, landscape maintenance,
etc. See budget for details.
- A separate independent association fee is applicable.
Contact
Ted Anderson for Coles Cove information or Tina Blankman for LookOut
information.
- All lots with lake access pay an additional $174.00/year, $43.50/quarter,
$14.50/month lake maintenance contribution. (All of Northlake Shores;
Coles Cove; Shadow Bay; Fleetwoods Corner; Shoreview; Fontana;
The Preserve; The Cape) Mallard Point lots 2-11; Timber Ridge lots
28-39A; Northlake Woods lots 15-18, 22-32, 36-38, 44-62; Pintail
Point lots 7-16; Stonebridge lots 1-11; Turtle Bay lots 42-64;
Pintail Landing lots 9-17; Waterside lots 6-14 and Westlake Hills
lots 11-12,17-24, 47.
- A separate owners assessment is collected for common lawn service
on their individual lots.
- Northlake
Shores lots 1, 2, 3 & 11-15 pay an additional
Block B fee of $120/year, $30/quarter, $10/month
- Lexington Green, Fleetwood's Corner, Sycamore Ridge, The Cape and
Treeline Hills, pay general assessment fee only.
- Common areas maintained by developer in 2008. No cluster assessment
anticipated in 2008.
Assessments due January, April, July, and October 1st.
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