From The Blog

The KICA Maximum Annual Assessment Calculation

FROM KICA BOARD CHAIR & TREASURER

It has become apparent that we have not done a good enough job explaining the Annual Assessment (AA) setting process. By our KICA Covenants, the Maximum Annual Assessment (MAA) is the maximum dollar amount members may be assessed in a year. That MAA escalates every year, as prescribed by the Covenants, by the greater of 5% or the Urban CPI. The MAA is the dollar amount cap for a given year, and the Annual Assessment (AA) dollar amount in any given year cannot exceed that year’s MAA. There is no cap on the percentage that the Annual Assessment can increase from year to year. The only cap is the dollar amount, the MAA. The AA can never exceed the MAA in any given year.

Since 1977, KICA has executed an annual calculation, as outlined in Article V of the KICA Covenants, to determine the Maximum Annual Assessment (MAA). The combined KICA 2025 General & Reserve Assessment amount ($2,826 improved property, $1,413 unimproved property) is less than the MAA allowed by KICA Covenants ($3,435 improved property, $1,717 unimproved property).

View the annual calculation table, starting in 1977 through 2025.

According to the KICA Covenants, the General Assessment and the supplemental Reserve Assessment, both paid for by all members, are the two assessment types that combined may not exceed the Maximum Annual Assessment calculation.

KICA’s Amenity assessment and segment assessments do not factor into the Maximum Annual Assessment Calculation (see KICA Covenants Article V Section 5 and Article IV Section 5).