Why do Assessments go up by ~1.5% each year?

While other factors go into budget development (see the other FAQs in this category and the links below), one component driving the incremental increase involves our Replacement Fund. The Dunes West Replacement Fund is currently funded at 46%. Our target is at least 70% by 2040 and 100% by 2050. The Replacement Fund is money set aside for each of the next 30 years to replace assets that will deteriorate over their useful life. Funding levels are determined by a professional reserves advisor. It has been the position of the Dunes West Board of Directors (DWBOD) to assess at a lower, predictable rate of increase rather than one that constantly varies; instead, the planning helps protect against surprises and special assessments.

Additional information may be found here: Reserve Study, 2018-2019 Budget Letter, Budget Development Process.