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You've come to the right place, @staci-gregg.
You can create a yearly-type recurring transaction. Here's how:
You can visit this article to learn more about recurring transactions: Create Templates for Recurring Transactions.
Also, I've added these articles as an additional reference in managing your recurring transactions:
Always feel free to swing by here if you have other questions about tracking your HOA-related transactions. I'm always here to help.
Have you tried following the steps I've shared? Were you able to create an annual type recurring transaction?
The Community and I are always here to help you achieve your goals. Feel free to drop your comments below if you have other questions or concerns. Wishing you continued success!