HOA Dues and Yearly Budget

Palmetto Bay Plantation's annual homeowner's fees are due in January with a second payment being an option in June.

Dues for 2010 will be held at $3,000 with this years deficit of over $81,000 being carried over into the next year.
Dues for 2009 were $3,000 and no special assessment were levied.
Dues for 2008 were $2,650 and no special assessments were levied.
Dues for 2007 were $2,650 with a $2,000 special assesment for a new water and electrical system.
Dues for 2006 and 2005 are being researched. Both years a special assessment was levied.

Each year before the annual homeowner's general meeting, held in October, the proposed budget and dues are submitted to each homeowner for review. At the general meeting, the itemized budget is discussed, amended if necessary and approved by a vote of the general membership.

Some of the items covered under the hoa budget are:

Pool Maintenance
Security
Landscaping
Dock
Beach Maintenance
Interior road maintenance
Water
Trash
Green Space maintenance

In addition to Common Assessments, the Board of Directors may, levy Special Assessments for the purpose of raising funds not otherwise provided under the Budget from Common Assessments to construct or reconstruct, repair, or replace capital Improvements upon Association Properties, to provide for facilities and equipment required to maintain the roadways, paths, walkways, Association Property and the community water system as authorized in this Declaration. The Board of Directors shall not levy Special Assessments without the vote of the Members representing at least a majority of the voting power of all Members. The Association shall notify Members in writing of the amount of any Special Assessment and of the manner in which, and the dates on which, any such Special Assessment is payable and the Members shall pay any such Special Assessment in the manner so specified.

If any assessment is not paid with in 30 days of the due date the member is obligated to pay the assessment plus penalities and interest.

Palmetto Bay Plantation's Year End for 2009 and Budget for 2010

Due to the economic crisis world wide, the Developer and some of the home owner's are unable to pay their dues. This currently leaves this community unable to pay it's bills or complete construction.