{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

special assessment - Many projects are financed through the...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
What is a special assessment special project? How are special assessment projects reported? A special assessment is a fee for public improvement projects such as street and sewers that is levied against properties that will benefit from an improvement project. Most know special assessments are charges levied against lands when drinking water lines are installed, or even when streets are built too. The owners of property can also petition the government to initiate such projects to enhance property values.
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Many projects are financed through the issuance of bonds, which are then repaid through special assessments from the benefiting property owners. As the bonds are issued and special assessments are approved, the special assessments are recorded as receivables. If for example a street light has to be added to a neighborhood for $10,000. The city will most likely sell bonds of this amount to finance the construction with repayment to be made using funds collected from the owners of the property benefited....
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online