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Canyon Lake homeowners can expect increase in dues

The Canyon Lake POA Board of Directors on Tuesday unanimously approved to increase the 2022/2023 dues by $10 per month.

The current annual assessment is $3,516. Starting May 1, the annual assessment will increase to 3,639 (the final approved annual assessment is rounded in order to be evenly divided by 12). Members who choose to pay their assessments monthly will pay $303 per month plus an installment charge. Monthly payments are due by the 15th of each month. Payments received after the 15th of the month will be considered late and will incur a late fee.

The board also approved the Operating Budget as part of the Annual Budget for the fiscal year 2022/2023 starting May 1. The fiscal impact of the Operating Budget is a net subsidy of $12,787,669.

In addition, the board approved $2,050,000 for the Repair and Replacement Reserve, $2,000,000 for the Road Reserve, and $1,000,000 for the Capital Improvement Fund.

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