Reston Association Assessment May Increase by $8

Andrea Swalec October 14, 2014 at 10:35am

(Updated at 3:10 p.m.) The annual fee paid by all Reston homeowners and renters may increase by $8 in 2015, following greater increases in recent years.

Reston Association documents show the Board of Directors has proposed a 2015 assessment of $642, which is just 1.3 percent more than the 2014 amount of $634.

Thorough planning helped the RA keep the assessment cost down this year, the group said in a statement issued Tuesday afternoon.

“The budget process last year incorporated cost-saving measures as well as accounting for the additional units to be added to the RA membership early next year,” the statement said. “In addition, RA staff has been steadily increasing the amount of non-assessment revenue, including merchandise sales and facility rentals.”

The RA expects to collect more than $13 million in assessments in 2015 to cover the costs of pool and tennis court maintenance, tree planting, free and low-cost recreation programs and more. Total estimated revenue for the year comes in at more than $16 million.

Expenses in 2015 reach nearly $14 million, with $5.4 million spent on management and headquarters costs, $2.7 million spent on recreation services and $2.1 million spent on park maintenance.

Residents paid these assessments in previous years, according to the RA.

RA ASSESSMENTS SINCE 2000

Year    Amount Percent Increase
2000    $370.00
2001    $375.00   1.35%
2002    $387.00   3.20%
2003    $399.00   3.10%
2004    $415.00   4.01%
2005    $425.00   2.41%
2006    $437.00   2.82%
2007    $437.00   0.00%
2008    $475.00   8.70%
2009    $491.00   3.37%
2010    $515.00   4.89%
2011    $540.00   4.85%
2012    $565.00   4.50%
2013 $590.00 4.50%
2014 $634.00 7.45%

Residents who pay assessments after March 1 of each year are subject to a late fee of 10 percent, according to the RA’s website. An additional 10 percent will be applied if the amount is not received by August. An annual 12 percent interest rate also applies to all past due balances, the site says.

Locals can weigh in on the proposed 2015 assessment amount and next year’s budget at a public hearing at 6 p.m. Thursday, Oct. 23 at 12001 Sunrise Valley Dr.