Before the meeting, you will be mailed a Notice of Annual Meeting, a multi-page, single-spaced document that sets out, for the new year (2019), the estimated operating budget listing the cost components, applicable dues per item and per point and total operating budget dues and total per point. It then provides an estimated capital reserves budget and estimated annual dues for that, and finally it sets out an estimate for property taxes and dues for that. The dues per point contained therein will be the ones voted on by the board at the meeting (you get no vote).
Near the end of the year, you get an annual statement (a bill) providing the actual dues you will have to pay and actual property taxes paid in the existing year (2018). The dues per point for the new year in that annual statement may differ somewhat from the ones voted on. There can be an adjustment made in that statement resulting from property taxes actually paid during the existing year. The actual taxes are sometimes less than you paid in for taxes, in which case your actual dues per point for the new year will be somewhat less than voted on at the meeting because you get a set-off for the existing year's overpayment in taxes, or the actual taxes are sometimes more than you paid in for the existing year, in which case your dues for the new year will be somewhat more than voted on at the meeting.
Annually, DVC guarantees that you will have to pay no more than the dues voted on at the meeting, i.e., there will be no special assessments in the upcoming year and DVC has to cover any costs that exceed annual dues collected, with the exception of possible assessments resulting from major property damage events such as resulting from hurricanes. However, that guarantee does not apply to property taxes and thus DVC can make that annual adjustment for actual taxes paid.
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