Texas Property Taxes why are they so HIGH!
July 22, 2007
Should you care if your Spring Texas home is an Energy Star home?
August 9, 2007There are 27,000 HOAs (Home Owners Associations) in the state of Texas. With the majority of Spring Texas subdivisions having an HOA it’s important to know what it is, what it does, and what the annual fee is. HOAs play a vital role in maintaining subdivisions and the resale value of our homes in Spring Texas.
In most cases, HOA membership is mandatory and not voluntary. The HOA has a board made up of elected homeowners. All of the board members serve as volunteers. The board will typically meet on a monthly basis and make decisions concerning the maintenance of the subdivision. The board may employ a professional management company to help with some of the tasks of running the HOA. These tasks may include the preparation of the financial statements, assessing and collecting the annual HOA fee from the homeowners, printing of checks for the payment of vendors, and the identification and notification of deed restriction violations.
The board of the HOA decides the pool maintenance contractor, the lawn service contractor, the lake management contractor, the security contractor, and the trash contractor. They also decide when equipment is to be replaced and its replacement. I recommend you try to attend at least of couple of HOA meetings. You will gain a better understanding and appreciation for the service that the HOA board members are providing to you.
For single family homes the HOA fees are typically assessed on an annual basis. You will receive the bill in December for the next year and it will be due by January 31st. HOA fees range from a low of $350 to upwards of $1,500 depending upon the Spring Texas subdivision. Gated communities annual HOA fees are higher than non-gated communities. The HOA fees vary based upon the quantity of services provided and quantity of amenities that need to be maintained by the HOA.
The subdivision that I live has an annual HOA fee of $650. In return for my $650, I receive well lit streets (the HOA has to pay for the electricity to light up the streets in my subdivision), mowed common areas, seasonal plantings, security that patrols the subdivision, maintenance of a 100 acre lake, parks, lifeguards for our 2 pools, walking trails, exercise room, clubhouse, soccer, and 50 organized community events a year. Find out how much your Texas HOA annual fees and assessments at www.hoa.texas.gov
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