Financial Analysis of Hilltop Lakes
Maintenance fees have not increased since 2004 for property owners. Rising employee cost, insurance, maintenance, repairs, and state mandated improvements on our dams have led to an extensive financial analysis of our revenue and expenses.
Maintenance Fee Increase
For the first time in sixteen years the POA Board of Directors voted to increase fees to cover these cost and improve aging, neglected amenities and infrastructure. This action was taken after months of review, public meetings, and input from property owners. In recent years Hilltop Lakes has been running a budget deficit and been unable to maintain basic repair and updates on our amenities. The artificially low maintenance fees and other revenue from the hotel, campgrounds, Golf Pro Shop, and other revenue streams could no longer keep pace with the upkeep of Hilltop.
Beginning in July of 2020 the maintenance fee will be $110 a month for property owners with improved property, (homeowners). The Board of Directors voted to continue a discounted rate on unimproved property with a smaller increase, raising the fee to $55 a month, (lot owners). Current rules regarding fees on contiguous or multiple lots will remain unchanged.
These actions were not taken lightly and came after serious review and debate. There was agreement by the board, and from the overwhelming majority of comments from property owners, that fees needed to increase. This action will enable Hilltop Lakes to have a balanced budget and begin long overdue maintenance and improvements on our lakes, roads, pool, golf course, and building infrastructure.
Authority of Action Taken & New Rates
On April 13, 2020, Under Section 8.2.3 of the Bylaws of the Hilltop Lakes Property Owners Association, the Board of Directors voted for an increase in maintenance fees. Payment instructions and new booklets will be forthcoming. New rates as of July 2020- Homeowner- $110 per month, Lot owner $55 per month.
Hilltop Lakes Best Value in the Lone Star State
Hilltop Lakes continues to be the best value in Texas for retirement, year round living, a weekend home, or just visiting as often as possible. If you have not been here in a while, come see us. The golf course has never been better, they are catching fish everyday, the Texas pool looks great, tennis courts are waiting for you, and everything Hilltop has to offer is welcoming your arrival. As a property owner you are very important to our association. Planned improvements at Hilltop are underway to ensure we maintain and improve our property values.
INSTRUCTIONS FOR PROPERTY OWNERS WHO PRE-PAID MAINTENANCE FEES IN FULL FOR 2020
All coupon books reflect new rates for July 2020 – December 2021. If you prepaid for 2020 at any point prior to the increase, you have three choices on how to pay the difference in rates for July – December, 2020:
- Prepay the difference for the balance of the year in July. This is the difference in the monthly rates multiplied by six (6):
- Unimproved lot owners’ rate has changed by $20/month, so pay $120 to be fully paid for 2020.
- Improved lot owners’ rate has changed by $45/month, so pay $270 to be fully paid for 2020.
- Using a coupon from the new book, starting with July, pay only the difference in the monthly rate each month for the balance of 2020:
- Unimproved lot owners should pay $20/month
- Improved lot owners should pay $45/month
- Allow your pre-paid balance to deplete before making any payments, then resume monthly payments for the balance of 2020:
- Unimproved lot owners have a credit of $210 on your account as of June 30 ($35 x 6). New rate is $55/month. July – September will be deducted from the credit, bringing the credit to $45 at the beginning of October. To remain current, pay $10 in October, then $55/month for the balance of the year.
- Improved lot owners have a credit of $390 on your account as of June 30 ($65 x 6). New rate is $110/month. July – September will be deducted from the credit, bringing the credit to $60 at the beginning of October. To remain current, pay $50 in October, then $110/month for the balance of the year.
Property owners with multiple properties that require multiple maintenance fees to be paid should apply the above instructions to each maintenance fee they are paying. Be sure to include all coupons with any payment that covers multiple properties.
In order to make voting easier for more property owners, particularly those who do not live at Hilltop Lakes, the following changes are being made for the 2020 election:
MAIL-IN BALLOTS are also available by request. Request may be made by calling the Welcome Center (936-855-2222) or by using the link on the Hilltop Lakes website (www.hilltoplakes.com).