Will my assessment go up?

There is no concrete answer to this. The Board of Directors creates a budget that provide for the operations of the current year and for future repair and replacements.  As with many budgets, costs go up.  The membership will have the opportunity to ratify the budget at a meeting. The Board of Directors may approve an increased budget, increasing your assessment up to this percentage in order to cover increased costs of operating and maintaining the common area and sufficient reserve funds.