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Nov

23

2019

From The Blog

Assessments & Fees

2020 Rates

2020 Assessment Rates and Fees

Annual Assessment Types

The association assesses community members annually to help fund the maintenance of Kiawah Island common property, repair infrastructure, and provide community services, like security and recreation. Annual assessment rates vary depending on the property owned: a lot is considered an unimproved property and a residence is considered an improved property.

GENERAL ASSESSMENT

Paid by all members, the general assessment funds the majority of the Operating Budget. This covers the maintenance of common properties (e.g., association owned/leased roads, landscaping, lakes, leisure trails, and more), security operations (e.g., gate access, patrols and commercial access) and administrative operations (e.g., insurance on common properties, legal and accounting services).

RESERVE ASSESSMENT

Paid by all members, the Reserve Assessment strengthens and diversifies KICA’s reserve fund, which is used to repair and replace infrastructure on the island.

SANDCASTLE AMENITY ASSESSMENT

Paid by all residential members, the Sandcastle Amenity Assessment funds the operation and maintenance of The Sandcastle facility and pools.

SEGMENT ASSESSMENT: VANDERHORST GATE

The segment assessment is paid for by members owning property behind the Vanderhorst gate (V-gate) to cover the operation and maintenance of the V-gate.

SEGMENT ASSESSMENT: OCEAN PARK AND THE PRESERVE

The segment assessment is paid for by members owning property in Ocean Park or The Preserve to cover the cost of landscaping and maintenance at a higher standard than other common property.

Special Assessment

 

FLOOD MITIGATION SPECIAL ASSESSMENT

The Flood Mitigation Special Assessment was approved by members in 2020 to fund improvements to infrastructure that were designed to mitigate known flooding issues. This special assessment is billed in June to all members and will be billed annually through 2024.

Fees

 

JOINT MEMBER ADMINISTRATIVE FEE

This fee is charged on properties owned by multiple households or entities. The property will be charged $150 for each additional owner household to cover the administrative costs associated with multiple ownership.

PROPERTY STATUS CHANGE FEE

When a lot’s status changes from unimproved (empty lot) to improved (lot with residence) a fee equating to half of the current year’s general assessment for improved properties is charged. The property status change occurs when the Architectural Review Board issues a building permit.

Regime Fees

On Kiawah Island, there are more than 31 regimes. If your property is a part of a regime, you may be charged monthly or annual fees for regime services. Contact your regime manager for more information.

Fees at Closing

 

CONTRIBUTION TO RESERVE FUND FEE

A fee of 0.5% of the gross purchase price of a new property, with a minimum due not less than the amount of the current year’s annual assessment. This fee is contributed to KICA’s reserve fund.

PROPERTY SALE ADMINISTRATION FEE

This fee is collected at closing on each property transfer to cover the administration costs associated with ownership changes.

RECREATION CENTER INITIATION FEE

This fee is due at closing on new lot sales or homes not previously assessed. The fee is equal to the amount of the general assessment for an unimproved property.