In short, a cooperative is a legal entity that owns real estate. Each person that owns a unit in The Saxony owns a certain number of shares of the full property, depending on the size of the unit. Monthly coop fees are determined by the number of shares allocated to each unit, and those fees are used for property taxes and building maintenance. Individual owners do not pay property tax. We are managed by a board of directors, comprised of 6-10 elected members of the cooperative. In addition, we employ a building management company, a building manager, and staff.