Magnolia Cove homeowners face massive jump in monthly HOA dues

SHERRILLS FORD, N.C. — Homeowners in the Magnolia Cove subdivision in Catawba County say they are facing steep HOA increases, with monthly dues jumping from $1,250 to $7,500 a month.

Several residents have shared an email with Channel 9 from their HOA that says, in part:

“Ahead of our October 26 meeting, we want to make sure the 2027 budget is clear. Starting January 1, 2027, the assessment for each lot will be $7,500 per month. That works out to $90,000 per lot for the year, and it’s the figure behind the $2,070,000 in Base Assessments shown in your budget packet.

The increase is mainly driven by the Association’s legal and collection costs from owner accounts that haven’t been paid. Owners who stay current help bring those costs down over time. If you have questions, please submit them by Friday, October 23, at 5:00 PM, as described in your notice, so they can be addressed at the meeting.”

The homeowners say when they initially moved into the neighborhood, fees were $158 a month.

Those fees rose to $350 and then $1,250 a month earlier this year.

Channel 9 has reached out to the HOA for information about the proposed increases.