14: Other Calculations-Exam Prep

Condominium Assessment Calculation Formula:          Monthly assessment = (Total annual building budget x Condo unit % of value)÷12 Example: Assume a condominium complex with a $300,000 budget and a unit that comprises 1.48% of the total value of the complex. Monthly assessment? ($300,000 x .0148)÷12 = $370 monthly assessment. Contracts for the […]