NOTICE - HOA ANNUAL DUES INCREASE
Posted on Dec 29th, 2022
The Magnolia Walk Homeowners Association (“HOA”) is responsible for maintaining the appearance, safety, and standards of our neighborhood for all homeowners. The Board must plan for future repairs, replacements, expenses, legal fees, etc. that may arise from managing the HOA. This objective is made possible through annual HOA dues and special assessments. Our HOA fees have historically been kept at the lowest level. The original annual HOA fee in 1999 was $500. Our current HOA dues are $625 annually. To account for inflation in maintaining current services and in planning for future expenses, in its meeting of December 4, 2022, the Board, in accordance with Article IV, Section 3. (a) of the Magnolia Walk Covenants, approved a proposal to increase the annual HOA dues by 10%.
EFFECTIVE IMMEDIATELY
THE NEW ANNUAL HOA DUES WILL BE $687
DUE BY JANUARY 31 EACH YEAR
