New Legislation (CA)

/ Owner - February 22, 2024

AB 572. Assessment Limitation. Beginning January 1, 2025, new associations with affordable housing are limited to assessment increases for affordable housing to 5% plus cost of living, not to exceed 10% greater than the preceding regular assessment. This does not apply to associations with 20 units or less. “Affordable housing” means a unit occupied by lower and moderate-income households.   Read the article…………………………….

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