What are Assessment Fees?
Assessments are fees paid by all owners of Montgomery Village residential properties and are important to the overall well-being and quality of life in Montgomery Village. Assessments are established annually as required by the legal documents of the Montgomery Village Foundation, the homes corporations and the condominiums. All assessments are due annually, but may be paid monthly by condominium owners and quarterly by homes corporation members. Installments for quarterly assessment payments are due on the first day of January, April, July and October.
For the property owners’ convenience, assessments are combined on payment coupons. For those communities not managed by Montgomery Village Foundation (MVF), assessments are not combined on one coupon; the coupon you receive from MVF only includes your portion of assessments due to MVF, not the portion due to your homes corporation. Fees include the MVF Fee, the Designated User (DU) Fee and Homes Corporation and Condominium Assessments (where applicable). Any assessment more than one quarter delinquent (or, in the case of condominiums, more than one month delinquent) is subject to acceleration, in which payment immediately becomes due on the entire remaining amount of the annual assessment and legal action may be taken.
For more information or questions about assessments, call 240-243-2346 or email the Assessments and Collections Administrator.