Has special assessment of residents living on local roads that require road repair been considered? Why or why not?
Typically, special assessment or improvement districts are established by a geographical boundary and consist of commercial or industrial properties. In that case a special assessment is done for infrastructure improvements within the district. To do this within a residential area would be highly unusual. Typically with this type of program each property owner would be assessed a proportionate cost of the improvement to the street. This assessment would remain until paid off by the property owner, in this case homeowner, or upon sale of the property. The administrative costs and assessment costs to individual homeowners make this option highly undesirable.
Related Questions
- What services are received for the assessment and why is there a special assessment when residents already pay property taxes? What are property taxes paying for?
- Has special assessment of residents living on local roads that require road repair been considered? Why or why not?
- We require financial assistance of a special assessment or bank loan. How can a reserve study help us at this time?
