Quote:
Originally Posted by rhood
There are 18 homes on my block and the amenity fees range from $179 and change to over $200. The home that originally closed first pays $179 and is the oldest on the block. The next oldest originally closed 1 month later and their fee is $190. The most recent resident (last summer) is paying $194 while a home sold two years ago is paying $201.
Generally, the adjustment anniversary date is the original land sale date so fee adjustment dates will be different for each property. I just can’t figure why such a big difference from least to most.
I’m not complaining, I just like to play with numbers, but can’t figure out how this works. Guess I’ll contact district and ask them.
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From financial intuition:
The process is similar to the tax basis and tax calculation records,
The all current rates go up at the same rate
At sale, the current rate is attached to the property, reset for future increases.
What is unknown is the current rate at the time of sale.
The relevant documents only discuss the annual homeowner rate of increase, not how the existing rate is calculated when a house is sold and the rate is reset.
The annual rate is related/similar to the increase rate of social security, which is also based upon the rate of inflation, i believe, i could be wrong. However, SS is a political number, so it doesn't quite track the CPI annual change with adjustments exactly. The rate at time of sale can be calculated many different ways. . and that is unknown.
Let us numerical mind jugglers know what you uncover. .