Question

local government can recover the cost of widening a street in an existing neighborhood by charging the neighborhood property owners a

Answer 1

local government can recover the cost of widening a street in an existing neighborhood by charging the neighborhood property owners a Special Assessments.

What is an Special Assessments?

Special Assessments  can be described as one-time taxes levied that is been imposed on a particular property, this is been done so as to be  to help in the payment  for some public improvement that benefits property .

It should be noted that this is usually levied on a front foot basis  with respect to the  utility and sewer improvements, hence local government can recover the cost of widening a street in an existing neighborhood by charging the neighborhood property owners a Special Assessments.

In conclusion, special assessment tax in real estate can be described as the additional property tax where by the assessment is been done by local government so they can be responsible for the property as well as the neighborhood projects, however in this case the tax is been directed towards the specific geographic region which is been regarded as the special assessment district, and this amount is been paid by the property owners.

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