Lake Village Sign
A nice place to visit, an even nicer place to live!
Homeowner Assessment Information
The Lake Village Homeowners Association establishes an annual assessment for each unit in Lake Village.  The fees are based on the approved HOA budgets and the Board's actions.  The following fees have been approved by the homeowners membership for the fiscal year 2017-18 (beginning April 1) and includes four parts:
  • 1. Regular Assessment
    • $207 per month
    • adjusted each year as the approved budget changes
  • 2. plus a Separate Assessment Area (SAA) for property insurance
    • based on the estimated premium for the policy, including earthquake coverage
    • divided by each unit's square footage
    • $.61 per square foot
      • subject to change, based on actual cost
      • may be adjusted each year  (if the cost of insurance changes)
  • 3. plus a Separate Assessment Area (SAA) for exterior painting
    • 7 year painting cycle (all units get painted every 7 years)
    • siding, eaves, stairways and decks
    • 2 different assessment rates
      • 1. all painted wood sided units
        • $45 per month
      • 2. vinyl or other alternately sided units
        • $16 per month
        • some exceptions apply
        • covers stairways and decks
  • 4. plus an owner approved Special Assessment for equipment purchase
    • $120 ($10 / month)
    • 2017 year only

For example, a vinyl sided unit with 1198 square feet, monthly assessment would be:
207 + (1198 x .61 / 12) + 16 + 10 = $293.90 per month

What do the HOA assessments cover?

  • Dollar clipartHOA office staff, maintenance staff, equipment and vehicles
  • Pool, clubhouse and all other facilities, utilities, trash pickup
  • Road maintenance, snow removal, lighting, landscaping
  • State mandated reserve account, HOA taxes
  • Blanket Insurance policy, Painting program
  • Established neighborhood standards enforcement (CC&R's)

For more information: