special assessment


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Related to special assessment: Special Assessment Bonds

special assessment

A charge to property owners in order to pay for some improvement benefiting all assessed owners in common.Local government sometimes makes special assessments to pay for road or sewer work.More commonly,condo associations and neighborhood associations will levy special assessments for the repair or expansion of recreational or other community amenities,or for structural repairs such as a new roof or road repaving.

References in periodicals archive ?
On appeal, the City argued that its decision to levy special assessments was legislative and that the courts should not interfere unless its actions were "palpably arbitrary, unreasonable or beyond its authority." (203) However, the City's only legislative decision was to pass an unconstitutional special assessment, because the assessment was not measured or limited by the special benefits accruing to the property.
The FDIC switched from the interim rule to the final rule in part to reduce the "pro-cyclical" effects of the special assessment because banks were struggling to lend money already.
In some areas, the cost of residential street lighting service is passed along to property owners through special assessments, similar to what's being done in Hills-borough County, while other local governments pay for this through their general fund.
The CID's special assessment income stream can then fund the loan payments.
The heart of the new law is a one-time special assessment on thrift deposits to shore up the SAIF.
That is, if any separate assessment adopted by the board results in the sum of all regular and separate assessments to exceed 115 percent of the regular and separate assessments payable during the preceding year, owners with 20% of the votes of the association have a right to file a petition with the board within a specified number of days of the board's adoption of the special assessment. If the board of a condominium association receives such a petition, it should consult with counsel immediately.
Raphael, who has broad experience with multi-family housing bonds, special service area and special assessment financings, as well as sales tax revenue bonds, was previously head of municipal structured finance with William Blair.
He has deep experience with multi-family housing bonds, special service area and special assessment financings, and sales tax revenue bonds.
It was agreed that special assessment centres will be designated across the country to assess patients seeking liver transplant facilities in Turkey.
Based on the results of the Special Assessment or Visit of Establishment, DOLE found that PLDT contractors violated Occupational Safety and Health Standards as they lacked trained safety personnel and personal protective equipment such as harness, hard hat, safety shoes, and warning devices.
The town is now eligible for financing through the Commercial Property Assessed Clean Energy, or commercial properties, including nonprofits, can obtain long-term financing for energy efficiency and renewable energy projects, by electing to repay their loan through a special assessment tax from the town.

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