A TOOL FOR YOUR BUDGET

NEVER ‘GUESSTIMATE’ ASSESSMENTS AGAIN!

The amount your community should charge for assessments should be based on a formula that calculates from your expenses, planned reserve contribution and bad debt write-offs to determine a reasonable assessment rate that keeps your community in the black.

Don’t work backwards from the assessment amount! Figure out what your budget needs to include and let our assessment calculator tell you what assessments need to be to cover the planned budget!

This free calculator worksheet offers two options: A ‘simple rate’ calculator – intended for HOAs with only one assessment rate across all homes, and a ‘variable rate’ calculator, intended for associations with multiple rates on different lots or units, such as condo associations and mixed-use communities. These calculators are for boards to use as a budgeting tool to determine the ‘right’ amount to set assessments in the coming year.

Simply plug in your budget numbers to the spreadsheet, and the calculator will give you the assessment amounts for each lot type, as well as the final amounts to include in your statements or coupon books for individual owners.