Harbor Watch Annual Dues
HOA Annual Dues for 2016 as set by the BOD based on the approved 2016 budget is $600.00 for each lot.
The annual dues are due January 31 each year. The Board of Directors decided at their November 18, 2003 Board meeting that late fees and interest charges accrue beginning March 1 each year for any unpaid lots. As set forth in the covenants, the late fee is $25.00 and the interest rate on any unpaid balance is 1.5% per month (18% annual rate).
Harbor Watch Homeowners Association annual dues are used to maintain community common area landscapes, private streets, front entrance gates, two inland lakes and fountains in those lakes, boat docks and the boat storage area. Dues also cover expenses such as electric and phone bills, liability and hazard insurance, any legal fees, and administrative costs.
Harbor Watch also has approximately 3 miles of paved asphalt streets that must be maintained by the HOA since the community is gated and the streets are private. Building an appropriate reserve fund to maintain the streets is the second largest annual expense given the time frame that build out of the neighborhood could occur over the next five to ten years.
Dues could also be used to fund any approved capital improvements within the common areas of the community.