THE 2010 REAL ESTATE ASSESSMENT INVOICES WERE MAILED JUNE 1, 2010. This annual assessment is DUE by June 30, 2010. You can now pay online using the Pay Now button above.
What is the Annual Real Estate Assessment (AREA)? Pursuant to Article VI, Section 6.03 of the KNC Declaration, the KNC shall levy and collect from each Owner an annual assessment (the "Annual Real Estate Assessment"). The Annual Real Estate Assessment is calculated by taking the assessed value of real property located on Owners Sites (determined by Summit County Colorado Assessors Office) and multiplying by 29 mills.
Each year in June, you will receive an invoice from the KNC that willl include a letter explaining the charge and your annual billing amount for your property. The amount is due thirty days after the printed invoice date.
The KNC has the abilitiy to charge finance charges (18% per annum or 1.5% per month) and other collection actions including liens or foreclosure. Pursuant to Article VI, Section 6.12 of the KNC Declaration, the Neighbourhood Company has an automatic lien on each Site for any Assessment levied against that Site and any fines, late charges, penalties, interest, attorneys' fees, disbursements and costs of collection imposed against its Owners under any Neighbourhood Company Document (the "Assessment Lien"). The Assessment Lien secures all of the foregoing obligations of an Owner from the time such obligations become due. The lien amount is officially filed with Summit County; therefore title companies are aware of the outstanding balances.
To view your Annual Real Estate Assessment charge for 2010, please click on the following link, its in Excel Microsoft form.
Download the 2010 Real Estate Assessment Spreadsheet
