States
Colorado special assessments: what your board must do.
Payment plans of 18+ months, an 8% interest cap, and foreclosure limits for owners.
Does the board need an owner vote?
Colorado law sets no separate owner vote for special assessments; your declaration decides. For the budget, unless your declaration requires otherwise, the board's proposed budget is deemed approved unless a majority of all owners (or a larger percentage in your declaration) vetoes it at the noticed meeting, whether or not a quorum is present. This applies to older communities too (except some formed before 1 July 1992 whose declaration caps assessments); it is Colorado's single act for condominiums and HOAs.
C.R.S. 38-33.3-303(4)(a)(II)What notice must owners get?
Notice of an owners' meeting must be hand delivered or mailed 10 to 50 days ahead, posted where feasible, and must state the time, place and agenda items, including any budget changes. Board meetings are open to all owners, who may speak on an issue before the board votes.
C.R.S. 38-33.3-308(1), (2)(a), (2.5)Your right to see the records
You or your agent can inspect and copy association records, including budgets, contracts, minutes and the most recent reserve study, and the association cannot require you to state a reason. It may require a written request describing the records at least 10 days before inspection, and may charge no more than the estimated cost of producing copies. If it fails to allow inspection or copying within 30 calendar days of a certified-mail request (and payment of any copy fee), it owes $50 a day starting on the 11th business day, up to the greater of $500 or your actual damages.
C.R.S. 38-33.3-317(1), (2)(a), (4), (4.5)Payment plans, late fees and liens
Interest on unpaid assessments cannot exceed 8 percent a year. Before using a collection agency or lawyer the association must have and follow a written collections policy, send a certified-mail delinquency notice and make a good-faith effort to set up a payment plan of equal installments over at least 18 months; it can foreclose only if you owe at least six months of assessments, the board has voted by recorded vote on your specific unit, and you have had 30 days' notice of your right to mediation. For debts that began on or after 7 Aug 2024, an owner who lives in the unit as a principal residence generally cannot be foreclosed on unless the association first won a court judgment (or a listed exception applies, such as bankruptcy or being unable to serve you within 180 days).
C.R.S. 38-33.3-209.5(5), (8)(a); 38-33.3-315(2); 38-33.3-316(10.5)-(11); 38-33.3-316.3In Colorado, the same rules cover condos and HOAs.
Summarised from the statutes in November 2026. Not legal advice; your declaration and bylaws may add more rules.