Assessments for common expenses
- Statute:
- Colorado §315 · Part CCIOA-3 (CCIOA Part 3 — Management of the Common Interest Community)
- Topic:
- Assessments · Levy
- Applies to:
- HOA associations
Once the association has levied an assessment, assessments must be made at least annually based on a budget adopted at least annually. Common expenses are assessed according to the declaration's allocated interests. Past-due assessments bear interest at a rate the association sets, not to exceed 8 percent per year. Limited-common-element costs, costs benefiting fewer than all units, insurance in proportion to risk, utilities in proportion to usage, and owner-caused damage may be assessed as this section describes.
📄 Read the official text at leg.colorado.gov →
How SoShiny helps with Assessments for common expenses
SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees.
See the feature → Start freeFrequently asked
- What does Colorado §315 require?
- Once the association has levied an assessment, assessments must be made at least annually based on a budget adopted at least annually. Common expenses are assessed according to the declaration's allocated interests. Past-due assessments bear interest at a rate the association sets, not to exceed 8 percent per year.
- Who does Colorado §315 apply to?
- Colorado §315 applies to HOA associations in Colorado.
- What happens if our CID doesn't comply with §315?
- Non-compliance can expose the association and individual directors to disputes in the governing forum for Colorado community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of Colorado §315?
- The official text is published by the Colorado General Assembly at leg.colorado.gov. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Assessments for common expenses?
- SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees. Learn more →
Not legal advice. This page is a plain-English summary of Colorado §315 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a Colorado-licensed attorney. For the official statutory text, see the link above.
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