A hard copy of the 2016 Annual Report will be available at the forthcoming AGM.
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Tag: assessment
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2017 Assessment notice
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2015 Annual Report
The 2015 Annual Report to the Shareholders may be viewed at this link and a print copy will be available at the forthcoming Annual General Meeting.
The AGM takes place on Friday April 1st, 2016 and registration commences at 5:00pm. The meeting will be called to order at 5:30pm.
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2016 Assessment notice
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Fees for vacant lots from 2016
In accordance with the Articles of the Association the Board has approved an increase of 9.44% with respect to the Indenture Charges due for each vacant lot effective January 1, 2016. The last revision took place in January 2011. The Articles govern the amount by which the Indenture Charges may be increased as follows:
Firstly the annual “Indenture Charge” which is subject to upwards revision every five (5) years and adjusted to reflect any increase in the cost of living as published by the Bureau of Labour Statistics of the United States Department of Labour to be paid on the first day of January every year by the member to the Association under the provisions of the Founding Agreements.
The revised rates are shown below and are subject to VAT at the prevailing rate (presently 7.5%):
| 2011 | 2016 | |
| Phase V lots | $1,673.70 | $1,831.68 |
| Other lots | $1,389.97 | $1,521.17 |
Bills will be issued in December 2015 and will be due on January 1, 2016.
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2014 Annual Report
The 2014 Annual Report to the Shareholders may be viewed at this link and a print copy will be available at the forthcoming Annual General Meeting.
The AGM takes place on Friday March 27th, 2015 and registration commences at 5:00pm. The meeting will be called to order at 5:30pm.
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2015 Assessment notice
We understand that the proposed VAT (Value Added Tax) bill will become effective from January 1, 2015. Under the terms of the bill Sandyport Homeowners Association requires mandatory registration as it does not meet the requirements for exemption.
As a VAT registered entity we will add the tax at the prevailing rate (currently 7.5%) to all charges. As we will be able to recover the VAT paid on purchases, there is no cost burden to the Association. However homeowners should prepare for the addition of VAT to all charges made by the Association.
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2013 Annual Report
The Directors are pleased to announce the publication of the first Annual Report of the Sandyport Homeowners Association. An online version is available for viewing at this link and a print copy will be available at the forthcoming Annual General Meeting.
The AGM takes place on Friday March 28th, 2014 and registration commences at 5:00pm. The meeting will be called to order at 5:30pm.
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2014 Assessment notice
December 5, 2013
Dear Owner
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.
Yours sincerely
Robert Sands
Chairman