The annual homeowner assessments are billed to homeowners in August of each year. The annual assessment can change from year to year based upon the budget for the upcoming year.
Assessments for the current year are as follows:
2005 Andover Residential Assessments $225.00
Letters sent with the invoice communicate the due date of the assessments. If not received in the homeowner association's office by the due date, the homeowner will be charged a $25.00 service fee plus 1 1/2% (18% APR) of the outstanding balance. Each month the assessment remains outstanding a 1 1/2 late fee is assessed.
