Panther Valley
Panther Valley BOE has proposed a 71 percent increase in HOA fees.
Yes, you read that correctly. 71 percent.
They need to have a "reserve" amount as per a new NJ law.
They want to push this on the homeowners all at once to fund the reserve.
In this economy, it is difficult enough.
The bullying at the meetings seemed to blame the homeowners who voted down the budget last year.
So, they want to make up all the funds.
I will not go into the other issues with the units.
Just simply trying to make the point, the percentage per homeowner is just unreasonable. Simply unreasonable- no matter how you word it.
Greg AThe increase is crazy expensive. Panther valley people should vote no to the increase.
Gemipen 
Makomiller1984 $211 to $360 is steep. If any business starting to charge $149 over per house hold every month without customers satisfaction gain is crazy. What do you gain from increase? Who is getting profit? I've never had HOA. HOA does not protect neighborhood from threat and HOA isn't going to catch/prevent unspeakable outcome. HOA = fueling bully/landlord pet. You are feeding a pig so it can take bigger $%!T over and over.
RazzDazz I understand from a resident who attends the HOA meetings the HOA covers 100% of the health benefits for the employees. That cost is clearly skyrocketing despite or as a result of the ACA. I would gather a complete audit of how HOA funds are distributed and a close look at all of the expenditures that are currently in place needs to be scrutinized.
Greg Sounds like you haven't been funding the reserve account(s). If so, the NJ law now requires you to do so. The extra HOA fee goes into savings called reserve(s). It's still your money but instead of "kicking the can down the road" you're required to pony up now. I don't think there is anything corrupt going on..................
Correct. I forgot he stated the increase and action was in part due to a recent law enacted by the state. The only corrupt activity is based from Trenton as usual. Typical "public policy" that that continues to assault the finances of the citizens and result in a diminished quality of life here in the Garden state for many.
The New Jersey Reserve Law is clear; however, the Panther Valley Board is stating that they raised the fees to "get the reserve up to date". This is not mandatory. The New Jersey Reserve Law for HOAs may be brought to an acceptable status within a few years. There is no reason the fees must jump 71 per cent in one year.
It is unconscionable in the economy for anyone reasonable to expect this from our community. I have attended every meeting, heard, and seen what is going on. Our community clearly needs more board members (we know you read this) with a pulse on who we are and our commitment to a stable, clean environment that serves its members with diligence and reality. It may not be corruption as others have stated, but it surely is a lack of empathy. Vote No tonight at the meeting and let us come together with real, appropriate decisions and management of our funds across the board.
Your choice. Fund reserves or get a lump sum special assessment of $5000 0r $10,000. Yes, 5 or 10 K. Don't believe it? Okay. You'll find out.............
Underfunded Condo Associations are an investment RISK.
For what it's worth, most places around here with an HOA pay more than $360 per month. But yes, that is a very substantial increase indeed.
Mortgage companies look at the reserves and if not adequately funded you won't qualify for a mortgage.
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