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

Upgrades through these loans can be treated as a public benefit and repaid through a special assessment on the property tax bill, which can reduce risk and lower capital costs.

From The Wall Street Journal • Apr. 16, 2026

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

From New York Times • Jan. 12, 2024

They are also seeking a fine of $350,000, a special assessment of $200, and a three-year term of supervised release for Huizar.

From Los Angeles Times • Dec. 28, 2023

To recoup the loss to the FDIC’s Deposit Insurance Fund, the special assessment will charge 0.125% of each bank’s uninsured deposits over $5 billion.

From Washington Times • May 24, 2023

He is perfectly willing to pro rate the special assessment and there will be no difficulty in getting him to pay for title insurance.

From Babbitt by Lewis, Sinclair