Special Assessments

11/05/26

“How can we issue special fees to property owners to cover large unexpected costs?”

It’s common for municipalities, HOAs, and co-op/condo boards to charge regular fees to cover maintenance costs. However, large unexpected events may incur incredibly high costs. Governing entities can cover this deficit by issuing Special Assessments, or one–time fees to collect revenue to cover improvements and maintenance. Special assessments can only be levied on people who will receive the benefits of the improvement in an equal/fair manner commensurate with the expense needed. Projects that can get funded by a special assessment range from sewer improvements to emergency repairs.