What is a special assessment?
By Bob Millaway, South Jersey Community Expert & REALTOR®
A special assessment is an additional property tax levied on properties that benefit from a specific public improvement, such as new sidewalks, street lighting, sewer lines, or road repaving. Unlike general property taxes, a special assessment is charged only to property owners in the benefiting area. The cost is typically spread over several years.
Why It Matters
Special assessments can add hundreds or thousands to your annual tax bill for several years. Knowing about planned assessments before buying helps you budget accurately.
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