TeachMeFinance.com - explain special assessment
special assessment -- a property tax levied for a specified improvement only on those properties directly benefiting from the improvement. Special assessments are used to pay for such improvements as sewers, water systems, street repairs and street lights. Also called an improvement lien.
About the author
Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.