Is there a cap?
Some states and many governing documents cap how much the board can raise regular fees each year without an owner vote. Others have no cap; the board simply adopts a budget. Check your declaration and bylaws, and your state's rules.
Why fees are rising
Insurance premiums, new reserve and safety rules, and stricter mortgage lending standards are pushing fees up in many buildings.
What you can do
Ask for the budget and the line items that went up. Ask whether the board shopped the insurance and reviewed the reserve study. Go to the budget meeting.
General information, not legal advice. Rules vary by state and by your governing documents.