Vermont § 3-115 - Assessments for common expenses

§ 3-115. Assessments for common expenses

• (a) Until the association makes a common expense assessment, the declarant shall pay all
  common expenses. After any assessment has been made by the association, assessments
  shall be made at least annually, based on a budget adopted at least annually by the
  association. (b) Except for assessments under subsections (c), (d), and (e) of this section, or as
  otherwise provided in this title, all common expenses shall be assessed against all
  the units in accordance with the allocations set forth in the declaration. The association
  may charge interest on any past due assessment or portion thereof at a rate established
  by the association, not exceeding the legal rate. (c) To the extent required by the declaration: (1) a common expense associated with the maintenance, repair, or replacement of a limited
  common element shall be assessed against the units to which that limited common element
  is assigned, equally or in any other proportion the declaration provides; (2) a common expense benefiting fewer than all of the units or their owners may be assessed
  exclusively against the units or unit owners benefited; and (3) the cost of insurance shall be assessed in proportion to risk and the cost of utilities
  shall be assessed in proportion to usage. (d) Assessments to pay a judgment against the association may be assessed only against
  the units in the common interest community at the time the judgment was entered, in
  proportion to their common expense liabilities. (e) If damage to a unit or other part of the common interest community, or if any other
  common expense is caused by the willful misconduct or gross negligence of any unit
  owner, guest, or invitee of a unit owner, the association may, after notice and hearing,
  assess that expense exclusively against that owner’s unit, even if the association
  maintains insurance with respect to that damage or common expense. (f) If common expense liabilities are reallocated, common expense assessments and any
  installment not yet due shall be recalculated in accordance with the reallocated common
  expense liabilities. (Added 1997, No. 104 (Adj. Sess.), § 3, eff. Jan. 1, 1999; amended 2009, No. 155 (Adj. Sess.), § 34, eff. Jan. 1, 2012.)