News and Legal Updates

HOA Subject to Property Tax?

Normally, property taxes on common areas are paid by the membership through taxes on their own property.  For the members of an exclusive San Francisco community, however, an unpaid tax bill lead to the sale of the private street that fronts their homes.  How did this happen?  Bad record-keeping or the failure to record the proper deeds at the time of transition?  It’s hard to say.  The association claims that the tax bill was sent to the wrong accountant.  Now, a $994 property tax bill is likely to cost these owners hundreds of thousands to correct the mistake.

In Colorado, it would be unusual for an association to receive a property tax notice for on common areas, but things like this can happen.  One thing an association could do to safeguard its interests in the common areas is to contact the county tax authority and inquire – much of this information is available on-line through the county assessor.

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