A special assessment refers to a tax imposed by a local government to finance enhancements to public infrastructure, such as sidewalks, curbs, or other similar amenities, within a limited geographic region. Only properties that benefit directly from these improvements are subject to this tax.
In a condominium or another type of common interest association, funds are collected from property owners to support significant capital expenditures, like replacing a roof, in cases where reserve funds are inadequate. This additional assessment is distinct from the routine fee assessed for the upkeep of common areas.
