Untangling a Landlocked Mystery

By Ken Silveira, Treasurer

In the beginning there were (almost) no tangles The Tahoe Keys was created with the idea that every property would have a boat slip and access to Lake Tahoe. Landlocked properties without direct access to the Lake were provided a boat slip in the docks in the back-bay of the East Channel. Those docks became the Tahoe Keys Beach & Harbor Association (TKBHA) for Tahoe Keys landlocked property owners. Everyone benefited from and shared the cost of water quality services equally.

Tangles really began in 1991, when a major restructuring of the then 30-year-old and very complicated Tahoe Keys Property Owners Association took place. One result was a major revision to the CC&Rs, which have remained unchanged to this day (and hopefully will be updated

by a membership vote, which is currently underway – please vote!)

Also, in 1991 a legal agreement was established between the Marina, TKBHA, and TKPOA, which stipulates how water quality costs, and other costs to maintain the east channel, are shared. (“1991 Stipulated Agreement”) This agreement defines how costs are to be determined and that costs are to be billed on a delayed basis. This agreement, however, caused a double charging to TKPOA property owners who also pay for water quality costs as part of their general quarterly assessments.

To untangle the double charge, the TKPOA simply issues a credit to the accounts of all landlocked property owners that are also members of TKBHA. The credit is equal to the amounts billed to TKBHA on a per boat slip basis. This year, the TKBHA was billed $368 per boat slip for water quality costs in June and each TKPOA member also received a “boat slip credit” for $368 in their account statement.

Just one more thing to untangle – In October 2020, the Board approved a 50% discount on the water quality dues for landlocked homeowners that are not on a body of water (east/west channels or Lake Tallac) and are not a member of Tahoe Keys Beach and Harbor Association. The basis for this is that it si felt that those properties do not receive as much benefit from water quality services. The discount went into effect January 1, 2021.

A more detailed explanation of how water quality costs are determined, and included in quarterly assessments for different groups of property owners, is contained in the Annual Disclosure.

‘TIS THE Season...

...For Real Estate Reviews!

Websites that provide automated home valuations have a median error rate of 6.36% in California for off- market homes. In the Tahoe Keys we are seeing even higher; anywhere from 10-15% inaccuracy. There are many factors associated with obtaining an accurate home value. Each home is unique and your home has specific characteristics that make it vastly different from a home just a few doors away. Just as a doctor, financial planner, or accountant would provide an analysis of your health, snap shot of your portfolio performance or ways to decrease your tax liability; my responsibility as a real estate advisor is to provide you with an annual real estate review.

What is a real estate review? An opportunity to review the value of your home, current market conditions, refinancing options and answer any questions that you may have. Simply call, text, or email to start the process for your annual real estate review!

ALORA REYNOLDS

CA & NV REALTOR CA 02087131 | NV S 0189748

530 444 0710 areynolds@chaseinternational.com alorareynolds.com South Lake Tahoe Office: 989 Tahoe Keys Blvd