Virginia POA Act §55.1-1805 governs HOA assessments. Dues and special assessments must be levied per the declaration. Unpaid assessments can become a lien and, after notice, lead to foreclosure.
Under VA Code §55.1-1805, associations may levy annual assessments, special assessments, and specific assessments per the recorded declaration. Notice of assessments and rate increases must follow governing documents. Unpaid assessments accrue a lien on the lot under VA Code §55.1-1833 and can be foreclosed nonjudicially or judicially subject to statutory notice and cure periods. Late fees and interest up to 12 percent per year are permitted. Owners have a right to an itemized account statement.
Contact your local code enforcement office for specific penalty information.
See how Chesapeake's assessment & dues rules stack up against other locations.
Help us keep this page accurate. If you notice an error or outdated information, let us know.