2024 VCA ASSESSMENT DUES INCREASE
Rancho Vistoso remains one of the most desirable areas to live in Oro Valley. The Vistoso Community Association (VCA) Board of Directors is obligated to maintain this standard and adequately provide for the continued care of our community. After careful consideration, your Board has approved the budgets for the VCA Master Association and Siena neighborhood. The VCA Master Association will increase by $8.00 per quarter. The Siena neighborhood will increase by $15.00 per quarter to the benefitted parcel assessment beginning January 2024.
To view the 2024 Budget for the Siena and Master Association, click HERE. The Vistoso master association assessment will be $95 per quarter for residential owners and builders. The benefit parcel assessment for Siena will be $210 per quarter. Commercial owner assessments will increase by the relative percentage rate (9.2%).
Why The Increase
Currently, the master association’s reserve is 59% funded, which is rated as fair and the HOA’s risk of special assessment and deferred maintenance is currently medium. Association Reserves. the nationwide leader in reserve study preparation, conducted an onsite inspection of the master association’s assets this year and recommended keeping the current monthly contribution of $79,167. The allocation of $950,000 to the 2024 reserve fund will increase the reserve funding level to 60.6%. Per industry guidelines, funding above 70% reduces the risk of a special assessment. In 2024, the association plans to spend $1.2 million reserve dollars on irrigation systems, gravel replenishment, tennis courts, concrete repairs, drainage, play structures, asphalt sealing, and entryway monuments. These improvements will continue to add value and protect the community’s assets.