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States proposing assessment increase limits:
States proposing document or service fee caps:
Of the legislation proposing fee caps or elimination, here's specifically what some
states were proposing to do:
Set assessment increase limits: Arizona, California, and Indiana proposed bills that
would limit assessment increases, essentially forcing community associations to
find needed revenue through other means.
Eliminate the fee for property resale disclosure documents: Indiana, Maryland,
South Carolina, and Minnesota proposed eliminating this document fee. Because
this service costs associations money, all the other homeowners in an association
would be required to contribute to these costs if a property seller or buyer is not.
Cap the fee for resale disclosure documents or other real estate transaction fees
charged by associations: This cost typically amounts to less than 1% of
closing costs.
Cap fines or other professional fees: More state legislatures are considering
instituting caps on fines associations can impose for rule violations and attorney
fees for enforcement or collections proceedings.
8. SE TTING LIMITS ON
ASSESSMENT INCREASES
& FEE CAPS
• Arizona
• California
• Indiana (legislation passed)
• Connecticut
• Georgia
• Indiana
(legislation passed)
• Iowa
• Maryland
• Minnesota
• Mississippi
• North Carolina
• Oklahoma
• Rhode Island
• South Carolina
• Utah
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