In 2023, my condo dues and special assessment totaled $6617. I received an email from the management company saying there will be a budget meeting in 4 days. Option 1 budget for 2024, assessments will be about $12,000. Option 2 budget for 2024, assessments will be about $16,000. Is it legal to have such a big increase? Is it legal to have short notice for meeting? What can be done to protect the owners of the property?
Asked on 10/21/23, 4:08 pm
1 Answer from Attorneys
Alan Wagner
Wagner, McLaughlin & Whittemore P.A.
The answer depends on the terms of your condo documents, what the increased assessments are for, and whether the assessments were properly approved. In general, however, assessments of this type are permissible and proper.
Answered on 10/22/23, 6:47 am
