Assessments and charges

Common Elements summary — Section 720.308 is the HOA assessment-authority statute. It confirms that every parcel is subject to assessment for the parcel's share of the operating expenses of the association, and authorizes the association to levy regular assessments, special assessments, and individual charges for fines or for the cost of correcting a member's rule violation. Procedural rules: (1) regular assessments must be levied per the adopted budget; (2) special assessments require written notice describing the purpose and the amount to all members at least 14 days before the meeting at which they will be voted on; (3) individual charges for violation-correction costs require notice and hearing under 720.305(2); (4) all assessment authority must be grounded in the declaration — the statute does not create assessment authority where the documents don't provide it. For boards: the trap is special assessments. The 14-day notice with full disclosure of purpose and amount is non-waivable. A board that calls an "emergency meeting" with three days' notice to levy a $5,000-per-lot special assessment has created an unenforceable assessment and a fee-shifting fight. Plan ahead, notice properly, and document the financial necessity in the minutes.

Not legal advice. Click through to the official source for statutory text.