In Bountiful, Utah, residents of a particular condominium are facing a significant increase in their homeowners association (HOA) fees. The HOA plans to more than double the monthly fees to $800, which is a substantial jump from what residents are currently paying. This increase is attributed to rising costs of labor, supplies, and insurance, including a property insurance hike from $17,000 to $108,000 following a fire.
Many residents are understandably frustrated and stressed by this sudden increase, especially since it comes at a time when they are already dealing with other financial pressures. Some residents have expressed concerns about their ability to afford the new fees and the impact it will have on their plans for the future, such as moving or expanding their families.
Here is a chart summarizing the key details about the HOA fee increase in Bountiful, Utah:
Sources:
https://www.ksl.com/article/50545678/utah-condo-owners-face-800-monthly-hoa-fee-increase
https://www.deseret.com/utah/2024/12/06/utah-condo-hoa-fee-increase
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