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CAO Reduces Annual Assessment Amounts For Condominium Corporations

Author: 
Melinda Andrews
Publication date:
January 15, 2019
Article Summary: 

The Condominium Authority of Ontario (CAO) has announced a 25% reduction in the annual assessment fee that condominium corporations pay for the year 2019-2020, from $1 to $0.75 per month. The reduction was applied starting January 7, 2019, and will be automatically applied by the CAO. This was due to the CAO's projected actual costs for delivering its services being less than the budgeted costs, partially due to the Condominium Authority Tribunal's limited jurisdiction.



Keywords: 

CAO, Condominium Authority of Ontario, annual assessment fee, reduction, condominium corporations, budget, projected costs, cost-effective, Condominium Authority Tribunal, limited jurisdiction.

Source Citation: 
Melinda Andrews
CAO Reduces Annual Assessment Amounts For Condominium Corporations
January 15, 2019
https://dhacondolaw.ca/condo-law-news/cao-reduces-annual-assessment-amounts-for-condominium-corporations/
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