Do a search in your local title office on your HOA, you might be surprised how much rejiggering gets done on amendments to the original agreements. If it suits your needs, great, but I personally have enough problems with the concept of property tax without volunteering for more.
That said, I was on the first board without developer input. It was an eye opener and I can see how things can get out of hand quickly i.e. one person kept pushing for a rule specifying no one could have a car more than 9 years old. Fortunately inane proposals were strongly out voted but I can now see how these benign HOAs can become tyrannosaurus rex on steroids.