Declaration of Covenants for Trace Ridge Subdivision Gives us the right to VETO increase of Fees!
Update: I found out in Trace Ridge Bylaws and Declarations of Covenants, it states Homeowners have the powers and controls over Assessment Increases, HOA Budget per our documents. Homeowners can Veto Increased Dues, and Special Assessments. Also, per Texas State laws- PROPERTY CODE TITLE 11. RESTRICTIVE COVENANTS CHAPTER 209. TEXAS RESIDENTIAL PROPERTY OWNERS PROTECTION ACT. This law protects homeowners.
There are 3 Types of Assessments: Regular, Special, and Individual.
Our HOA has a budget of $171,000 they take in from all homeowners in our, Subdivision each year. We are a small HOA with 457 homeowners. This amount of money I feel should cover all expenses for our HOA at this time!
They are 2 Petitions Please sign both.
Links to sign both Petitions