Florida HOA special assessments and the notice rule

There is no Florida statute that caps how much an HOA can charge in a special assessment. The 115 percent budget challenge that owners sometimes hear about applies only to condominiums under Chapter 718, not to HOAs under Chapter 720. So the protection a Florida HOA owner has is procedural, not a dollar limit.

Florida Statutes 720.303(2) is that protection. Written notice of any meeting where a special assessment will be considered must be mailed, delivered, or electronically transmitted to owners and posted conspicuously on the property at least 14 days before the meeting. The notice has to state that an assessment will be considered and describe its nature. An assessment levied without that notice is voidable, which gives owners a real lever if the board skips the step.

Because there is no cap, a special assessment in a Florida HOA can be large, and it transfers to you at closing if it is pending. The notice rule does not limit the amount, but it does mean a properly noticed assessment is on the record, where you can find it. The reserve study tells you whether the association is funding for the big repairs or setting up a future assessment.

Read these together before you make an offer:

• The reserve study and reserve balance, since underfunded reserves are the most common path to a special assessment.
• Recent board minutes and notices for any special assessment that is pending or was just approved.
• The assessment history, for how often and how much the board has assessed.
• Whether any current special assessment is fully disclosed and who owes the remaining balance at closing.

A pending special assessment, or a reserve study that points to one, is a number you want before you remove contingencies, not after. With no statutory cap, the size is whatever the repair costs.

An HOA Notes brief reads the reserve study, the financial statements, and the minutes together, flags a pending or likely assessment, and cites the page behind every finding.

Florida Statutes section 720.303(2) (Special assessment meeting notice). Written notice of any board meeting at which a special assessment will be considered must be mailed or delivered AND posted conspicuously on the property not less than 14 days before the meeting, and must expressly state that a special assessment will be considered and describe its nature; a special assessment adopted without this notice is voidable. The board may levy special assessments without a member vote unless the governing documents require otherwise; there is no statutory cap on HOA assessment increases (the 115% budget challenge rule applies only to condominiums under Chapter 718).

When you read the disclosure packet, watch for special assessments may be levied by email notice alone with 5 days notice, and special assessments may be imposed at any regular board meeting without prior notice. HOA Notes flags each of these against the statute and tells you which restrictions are actually enforceable.