Definitions for "SPECIAL ASSESSMENT"
An assessment generally made against only those specific parcels of realty directly benefiting there from.
If significant or urgent repair or replacement expenses for the common property need to be funded and sufficient sums are not in the Reserve Fund, the Condominium Corporation Board must levy a Special Assessment so that all the unit owners contribute their fair share of the funds needed to deal with the situation.
A charge levied by a public authority to pay the cost of public improvements such as street lights, water and sewer infrastructure, landscape, etc.
Keywords:  quotimprovement, liens, see
(See "Improvement Liens.")