Special Assessment

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Related to Special Assessment: Special Assessment Bonds

Special Assessment

A real property tax proportionately levied on homeowners and landowners to cover the costs of improvements that will be for the benefit of all upon whom it is imposed.

For example, a special assessment might be made to pay for sidewalks or sewer connections.

References in periodicals archive ?
Based on the possibility that a subsequent purchaser of a lot would not choose to seek the initial two-year reimbursement or would pre-pay their special assessments, it was important not to assess the CID special assessment on all lots equally.
In this decision, ALJ Paez wrote that the mining company assumed that the information contained in the special assessment form was "merely factual.
2002), the high court concluded that EMS provided by a city did not confer a special benefit to real property, and, therefore, the special assessment for those services was an invalid ad valorem tax clothed as a special assessment.
The typical objective of an appraiser involved in a special assessment assignment is to allocate the costs of the public improvement project to each of the affected property owners in direct proportion to the benefits generated by the project.
Congress avoided this controversy by providing that the special assessment is included as a deduction under Sec.
The phase I and phase II bonds are secured by special assessments levied upon and collected from property owners within the phase I and phase II areas, respectively of CDD No.
The first category consists of special assessment districts.
FULLY DEVELOPED HIGHLY OCCUPIED TAX BASE: The phase 1 area, upon which special assessment securing bonds are levied, is fully developed both horizontally and vertically.
Administrative and management support services are those services associated with the annual determination of the special assessments to be collected from the property subject thereto; services shall include but not be limited to subdivision parcel research, special assessment levy research, preparation of the annual assessment and calculation of administrative costs, county tax office communication, tracking of delinquent assessment fees and required PID reporting.
Even though their buildings had to be maintained and improved, condo associations were forced either to impose hefty special assessments or put off expensive repairs until they had accumulated enough funds from common charges to pay for the work.
The maximum penalty is 1 year of imprisonment, a $100,000 fine or $25,000 for each day of violation, whichever is greater, a 1 year term of supervised release and a $25 special assessment.
Here, the FSLIC extinguished the reserve through its special assessment.

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