There are two costs associated with living in a cooperative: the share price and the monthly dues. Aquila Commons Cooperative is a market share cooperative, meaning there is no underlying building mortgage and each share, or unit, is sold at market rate.
The monthly association fees vary depending on the size of your unit and include the following:
- Repair and replacement of standard appliances
- Basic hi-def cable television
- Water, sewer, trash
- Security and fire protection
- Professional on-site management
- Building insurance
- Building maintenance, including custodial
- Landscaping and snow removal
- Reserve fund
- Use and maintenance of common areas (craft room, fitness room, game room, car wash, workshop, community room with kitchen, library)
Each owner is responsible for their share of the real estate taxes paid by the cooperative, based on the share’s assessed value. Each share is eligible for homesteading and the property taxes are tax deductible just like property taxes at a home.