Assessments

TInglewood Lakes Owners Association’s fiscal year is from October to September. The annual lot assessments and special assessments, along with any fees, are due October 1st of every year.

Annual Assessments: $200 per lot owned
Annual Special Assessments:

Dam Assessment $25 per lot owned, ends September of 2024
New Office Assessment $25 per lot owned, ends September 2025

Payment Due Date: Annual assessments and special assessments, along with cost for any additional gate access and any applicable interest and late fees, are due October 1st of each year and will be considered delinquent if not paid within 30 days.

When you purchase property in Tanglewood you automatically become a member of the Tanglewood Lake Owners Association and are obligated to pay assessments.

The Association uses the annual assessments to maintain all of the Association's common property in the best working condition possible with the available funds. Our properties include, but not limited to, the shelter house, parks and playground areas, shower house, swimming beach, office and equipment, trash compactor, lake buoys, public docks, entry gates, roadways, waste lagoons, and dams.

The assessments also pay for expenses including state mandated inspections, maintenance and repair of our waste lagoons and three dams, employees' wages and work comp insurance, utilities, all maintenance equipment, general equipment maintenance, fuel/oil, vehicle insurance, fish stocking, lake testing and maintenance, and the insurance that covers all of our common properties.

Non-Payment of Assessments:
The consequence of non-payment of association assessments is outlined in our Covenants and Restriction, Bylaws and policies established by the Board of Directors. Consequences of accounts that are 30 days past due include:

Accounts may be turned over for collection
Delinquent assessments shall bear interest at the rate of 8% annum until paid
A 20% late fee will be applied
Any costs and fees incurred in processing and collecting delinquent amounts, including, without limitation, interest charges, charges for preparation of delinquency notices or referral to collection, postage and copies, fees assessed by the Association's contracted designated collection agent, and attorney's fees and costs, shall become an additional charge against the owner and the owner's lot and shall become a part of the collectible debt and be subject to collection.
Any account that is one year past due is subject to a lien being placed against their property and foreclosure litigation.