December 5, 2013
Following consultation with the Audit & Finance Committee at a budget meeting on December 2, 2013, the Board of Directors resolved that the Association’s Annual Assessment Fee for 2014 remain unchanged at $2.75 per square foot. This represents the 8th consecutive year without a fee increase, which has been achieved in part through a rise in revenues from newly assessed dwellings (4%), enforcement of financial penalties for transgressors and by continuing to exercise financial prudence.
The 2014 budget is attached and will be effective from January 1 however it may be subject to revision in the event that the Government introduces Value Added Tax during the year.
We are pleased to be able to extend the early payment discount of 3% for all 2014 Assessments settled in full by January 14th, 2014. The following conditions must be met in order to qualify:
- Payment must be received in full by January 14th, 2014.
- Any other balances associated with the account should also be clear by the deadline.
- The 3% discount may be deducted from the 2014 Assessment only.
- Note that Indenture Charges (applied to vacant lots) are not eligible for discount and are due on January 1, 2014 in full.
The following installment options will also be available:
- Monthly – due on the first day of each calendar month, commencing January.
- Quarterly – due on the first day of January, April, July and October.
You will soon receive your 2014 Assessment invoice and be able to select your payment option at that time.