Well I got our letter and the levy statement.. We own 2, 2 bedroom units - weeks 3 and 4. So here's what it works out to per unit per week:
The 2005 levy estimate (paid when we bought I recall) was R1382.01 - The 2005 actual levy was R1323.01,
The 2006 levy estimate (paid in 2004) was R1371 - The 2006 levy actual is R2037.70,
The 2007 levy estimate (paid in 2005) was 1749.69 - Actual who knows,
The 2008 estimate (not yet paid) could be R2037.70 +15% +15% (based on their SOP)
But there are 2 things I can't figure out with our account - why if we pay both weeks at the same time, and the levy's are the same do we have radically different positive levy balances in each account (I'm going to track that down with Tracey et al), and
More importantly - if they have raised the 2006 levy 54% as a means of paying for the whole elevator replacement this year and as opposed to a special levy - where will the additional levy funds will be going in subsequent years - really robust reserve accounts???? (and if they intend to lower the levy even slightly in subsequent years, doesn't that amount to a "Special Levy"?_
I'm thinking I shall address the second of my questions to the Board of Directors - The accompanying letter indicates that "special levies are not well received", my observation is that a 54% increase isn't either, without an adequate reason for maintaining the levy that high in the long run - As to whether we will hold 'em or fold 'em - not sure...even at R2037 - that's only $384 CAD or $330 USD - that's reasonably inexpensive if it gets those trades where you don't want to waste a TIGER....
