62. We have a maximum limit on our annual assessments and we are trying to increase it over the $300, can somebody please tell me what is the CPI ?

You’ve asked a very popular question! We will assume your HOA is a limited expense liability planned community which contains a requirement to follow WV Code §36B-1-114.

Consumer Price Index (CPI) data is provided by the U.S. Department of Labor, Bureau of Labor Statistic.

WVOHOA had an important presentation that included a practice budget using an excel spreadsheet. You might try playing around with your assessment figures and see how your annual dues might increase: PRACTICE BUDGET SPREADSHEET. Modify ONLY white cells in the spreadsheet. 

You might try the US Inflation Calculator – measures the buying power of the U.S. dollar over time. Just enter any two years between 1913 and now, a unique amount, then select ‘Calculate’.

importantMOST IMPORTANT: Due to the complexity of the formula in WV Code §36B-1-114 be careful, a certified public accountant, attorney or similar professional can aid you in calculating the adjustment.
(by 2022 the $300 Cap “as adjusted” would be about $1,010.00)

  • WVOHOA is not responsible for broken and/or expired links.
  • The information found on the practice budget spreadsheet is intended to be used as a practice tool. No liability is assumed for the accuracy of the data presented or implied. Not responsible for results.

also see FAQ #25, 26, 27 and 130