D.D. from Mercer County, New Jersey writes: Dear Mister Condo, Can an HOA impose a Special Assessment to simply increase the Capital Reserve? The Board failed to fund the Reserve at an appropriate level in previous years and wants to catch up; no Capital improvements are planned. Mister Condo replies: D.D., New Jersey and several…
Taxability of Willed Condo Boat Slip
K.B. from Pinellas County, Florida writes: Dear Mister Condo, My father’s small condo was willed to me after his death. It included a boat slip which is listed as an “Extra Feature” on the latest County Tax appraisal. There was no sale of the slip or the Condo but was inherited. Is the 6% sales…
Condo Board Changes Use of Special Assessment Funds
H.H. from New Jersey writes: Dear Mister Condo, Does a special assessment, one that is designated and collected for monthly for three years, have to be put in a separate account or can it be transferred to a reserve account where it could be used for work other than originally specified? Mister Condo replies: H.H.,…
Big Apple Condo Board Allows Rooftop Recklessness
N.L. from New York City writes: Dear Mister Condo, We live in NYC on the top floor of an 8-story (converted) pre-war building with a small common roof deck (with a dining table, two benches and 4 sun loungers on it) directly above us. Some residents have insisted on using the deck for playing ball,…