The summary of the November 2018 Committee meeting states that there will be no increase in the annual assessment in 2019! We are so grateful for management holding the line on expenses. This should not mean that we will have a larger than average increase in 2020 if the RCSC can hold the line on expenses this year. The other interesting fact is that 70% of the properties in Sun City are assessed on a per-property basis and the per-person assessment has shrunk to 30%. The numbers will continue to shift to the per property assessment as property titles change to new owners.
Couldn't agree more aggie, kudos to the board and management for keeping costs in check. It's easy to look at lot assessment as a given and just pass the usual 50 cents or $1 per month, but if it is not needed, everyone appreciates not seeing the hike in fees. It is surprising to me the percentage of properties on the per lot assessment aren't higher than they are. Back when the change was made, they were predicting a much faster shift from per person to per lot. My guess is because the number of homes that sell per year (in excess of 2000), the assumption would be nearly an entire turnover in approximately 15 years. Funny thing is with flippers and some of the homes selling every 4 or 5 years, the numbers are wholly different than what you see at first blush. Think of it this way; 2200 homes sell per year, after 10 years, 22,000 rooftops out of the 27,000+ total have been sold. Add 5 years to that and theoretically well over 30,000 homes have been sold. The good news is lots of us buy here and stay for 30 and 40 years...good Lord willing. Ultimately the best news about Sun City is from a financial perspective, all is well.
"It is surprising to me the percentage of properties on the per lot assessment aren't higher than they are." There are probably a lot of properties that have transferred to new owners but not "found out" or reported to the RCSC. There are so many ways to take title that the properties just pass along without a recorded change which mostly happens in the case of family owned property or trusts. I'd guess the number of properties to be assessed at the per property should be more in the range of 20% if all actual transfers were known by the RCSC.
