I would refer you the your covent for the association.
Darrell B. Reynolds,
Attorney and Counselor at Law
2385 Lawrenceville Highway, Ste D
Decatur, Ga. 30033
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I agree that your covenants may be able to answer the question for you. Some associations' covenants have a limitation on the percentage it is allowed to increase the assessments from year to year. Others do not, which allows theboard to increase the assessments (usually with proper notice prior to the annual meeting, and with the membes having the opportunity to vote to disapprove the budget requiring the increase if specified/allowed in the covenants). So you need to check your covenants. You don't say if the funds are needed for important maintenance and repair projects or some other necessary purpose. If you don't object to the purpose, there may be other ways to finance the project rather than a high special assessment, such as taking out a loan. But remember, the payments may be smaller, but the interest will cause more to be paid out in the long run.
This is not intended to be legal advice or create an attorney-client relationship. If more information is needed, you should consult with an attorney in your state regarding the specifics of your situation and the options available to you.Ask a similar question