special assessment

American  

noun

1. a tax levied by a local government on private property to pay the cost of local public improvements, as sidewalk construction or sewage disposal, that are of general benefit to the property taxed.

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special assessment British  

noun

1. (in the US) a special charge levied on property owners by a county or municipality to help pay the costs of a civic improvement that increases the value of their property

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Etymology

Origin of special assessment

First recorded in 1870–75

Example Sentences

To address the reasons for selling: A rental that is only breaking even today is also vulnerable to HOA increases, special assessments, and possible vacancies, not to mention taxes and maintenance.

From MarketWatch

Condo demand has dropped recently as high homeowners-association fees and insurance costs are putting off some prospective buyers, as well as special assessments that are on top of monthly fees to maintain the property.

From MarketWatch

Anderson also waived a $2,000 fine proposed by prosecutors, citing Woodbury’s financial circumstances, and ordered him to pay a mandatory $10 special assessment, according to the judgment.

From Los Angeles Times

A special assessment by the Federal Deposit Insurance Corporation had reduced per-share earnings by 74 cents, the bank said.

From New York Times

But even its Crime Victims Fund depends on fluctuating criminal fines, penalties, forfeited bail and other special assessments, which has also meant financial uncertainty.

From Seattle Times