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Question: What is my Assessment and what is it for?
Answer: The assessment is the periodic amount due from each unit owner to cover the operating expenses of the Common Area and provide for Reserve Funds for replacement of common facilities in future years. Your assessments are generally due on the first of the month, quarter or as determined in the governing documents. When a purchase is made in an association, the owner knows that they are required to pay into the association to help maintain the Common Areas. Therefore, invoices are only sent as a courtesy and are not a required by State law.
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