Special assessment from your Vermont condo — and the emergency power the floods unlocked

Vermont at a glance

Negative option, plus an emergency power

Under 27A V.S.A. § 3-123, the board's budget (and any special assessment in it) passes unless a majority of owners vote to reject it. Separately, if the board votes by two-thirds that a special assessment is needed for an emergency, it takes effect immediately on notice — no ratification wait. That emergency power was heavily used after the 2023 and 2024 floods.

No reserve mandate

Vermont permits but doesn't require reserves, so flood and storm damage that outruns the (often thin) reserves becomes a special assessment. The resale certificate must disclose the reserve amount or state that none is included — a blank or zero reserve is a strong signal of assessment risk.

Super-lien and resale protection

Vermont gives the association a six-month super-priority over the first mortgage (§ 3-116), and foreclosure requires a 3-month delinquency plus a board vote. The resale certificate (5-day cancellation) discloses unpaid special assessments, so reading it — and the minutes for post-flood damage — tells you what's coming.

Sources

• 27A V.S.A. § 3-123 — budget ratification & emergency specials(High)
• 27A V.S.A. § 3-116 — lien for sums due (6-month priority)(High)
• 27A V.S.A. § 4-109 — resales of units(High)

Educational only — not legal, financial, or engineering advice. Confirm against the current statute and, where it matters, a Vermont-licensed professional.