Notice Of Assessment Increase

From Essex:

Dear Homeowner(s):

On November 21, 2024, the Board of Directors reviewed all estimated budget expenses for 2025 and unanimously voted to increase the 2025 assessment 3.5 %, as the current assessment rate is not sufficient to sustain the Association’s operating budget.

The Board of Directors approved an increase effective January 1, 2025; assessments will increase 3.5% from $395.00 annually to $409.00 annually. Payment for your assessment will be due annually on January 1st, 2025 in the amount of $409.00. Assessments are considered late after January 30, 2025.

8.4.1. Regular Assessments. Regular Assessments are based on the annual budget. Each Lot is liable for its share of the annual budget. If the Board does not approve an annual budget or fails to determine new Regular Assessments for any year, or delays in doing so, Owners will continue to pay the Regular Assessment as last determined. If during the course of a year the Board determines that Regular Assessments are insufficient to cover the estimated common expenses for the remainder of the year, the Board may increase Regular Assessments for the remainder of the fiscal year in an amount that covers the estimated deficiency. Regular Assessments are used for common expenses related to the reoccurring, periodic, and anticipated responsibilities of the Association…

If you have autopay set up, please be sure to update the amount of your payment prior to the January 1, 2025 effective date.

You may view the approved 2025 Budget by visiting www.travisranchhoa.com and clicking on “Budget Documents” under the Sitemap near the top of the page.

Should you have any questions, please contact Essex Association Management, L.P. by visiting your association website www.travisranchhoa.com and using the “Contact Us” tab to submit a web submission.

Sincerely,

Essex Association Management, L.P., Managing Agent,
for Travis Ranch Property Owners Association, Inc.