Financial Information

​Reason Dues Increased

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The Tall Timbers HOA fees have been set at $100 since 1990. With 191 homes, our annual budget has been $19,100. While this was sufficient for many years, it no longer covers our expenses. After all, not much costs the same now as it did 34 years ago!

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Since the pandemic, nearly every aspect of running the HOA has seen a significant cost increase. For example, landscaping the common areas now costs $16,000 annually, and last year’s hazardous tree removal alone cost $18,000—almost our entire yearly budget! With unpredictable weather and the aging of our trees, we expect this trend to continue. To keep costs down, we’ve thoroughly researched and secured the most cost-effective vendors for landscaping and tree removal.

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Just these two services cost $33,000 in 2023 - greatly exceeding our $19,100 budget. And there are other necessary expenses the HOA must cover every year, including:

• Legal fees (including taxes)

• Insurance

• Collection fees

• Community events

• Website fees

• Bank charges and accounting fees

• Postage and printing

 

As you can imagine, maintaining low HOA dues has restricted what we can achieve for the community. After evaluating our budget from all angles, the Board determined that increasing the dues to the maximum allowed under the 1988 Tall Timbers bylaws ($120 + inflation) was necessary.

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We presented this change at the December 2023 HOA meeting, and there was an in-depth discussion about our budget. Brookland District Supervisor Dan Schmitt even commended us for making such a small budget stretch so far, noting that many HOA fees in the area are much, much higher.

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Some homeowners suggested increasing dues to $200/year to alleviate financial stress, but our bylaws only allow a 3% annual increase without a 2/3rds majority of all homeowners signing off—a challenging feat that would require nearly everyone’s agreement.

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It’s worth noting that if our fees had followed the original structure, the $100 fee from 1990 would now be $273.19 per household. So, $125 in 2024 is still a bargain at far less than half of what it was supposed to be! And now in 2025, it's been increased 3% again to $127.

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We hope this helps clarify the reasons behind the dues increase. Please remember that we are homeowners just like you, volunteering our time and energy to make this community work. Thank you for your understanding and support.

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Other Funding Sources We’re Exploring

 

Our volunteer HOA Board is doing its best to find creative ways to manage our growing community costs. Here’s what we’re hoping might work:

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• We’ve reached out to our local government in hopes of securing a one-time beautification grant.

• We’re also beginning to explore sponsorship opportunities for businesses that see value in connecting with our neighborhood. If you own (or know of) a business that might be interested in advertising, please email the board at talltimbersboard@yahoo.com.

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While we’re optimistic, we know these options might not come through as planned. Still, we’re determined to keep searching for solutions to support our community!

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Henrico County Beautification Grant

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We’re thrilled to announce that, thanks to the hard work of Dennis and Misty Proffitt, and following Brookland District Supervisor Dan Schmitt’s visit to our 2023 Annual Homeowners Association Meeting, we’ve been awarded a one-time beautification grant of $10,000! These funds, distributed quarterly at $2,500, were being used directly for our landscaping needs.

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While this is fantastic news, it’s important to note that the grant only covers $10,000 of the $16,000 needed to maintain our beautifully landscaped common areas. We’re excited to see the impact of this grant, but we’ll still need additional support to keep our neighborhood looking its best. Let’s keep the momentum going!