As provided in the CC&R’s, an annual assessment is levied against each living unit in the association. Funds collected pay for improvement and maintenance of common property and facilities, operational expenses, and debt service. The annual assessment is billed semi-annually.
The amount of annual assessment is set each year by the board of directors as part of the budgeting process. It may not exceed the Maximum Annual Assessment, which is a limit set by members of the association. As a result of a resolution approved by the members in 2008, the Maximum Annual Assessment automatically increases each year based on the Consumer Price Index. Automatic increases are limited to 5% per year, however.
The members of the association also have the authority to pass a special, one-time assessment to pay for capital improvements, but this has never been done.
Not all members pay the same amount. For purposes of determining the assessment for individual units, the CC&R’s divide living units into three groups:
- Detached single family dwellings: These are always charged 100% of any assessment, annual or special.
- Attached, single living unit in height: This group includes townhomes, duplexes and condominiums that are one living unit in height. Units in this group that are part of a development that provides them additional amenities may be charged less than the single family rate. The board sets the ratio for each unit based the additional amenities. The ratio does not change from year to year and it applies to both annual and special assessments. Under no circumstances may these units be charged less than 50% of the detached single family rate.
- Attached, more than one living unit in height: This group includes apartments as well as condominiums and fourplex type units that are more than one living unit in height. This group is charged no more than 50% of the single family rate for annual and special assessments.
Automatic Monthly Payment Plan
As an alternative to paying assessments semi-annually, the association offers an Automatic Monthly Payment Plan. This free service allows MPHOA to automatically deduct your assessments and related charges monthly directly from your checking or savings account as a direct debit. Enrollment is easy. Just download the brochure, then complete the attached authorization form, and return it along with a voided check to the association office at:
Mountain Park Home Owners Association
2 Mt. Jefferson Terrace
Lake Oswego OR 97035