Property Ownership
What is a condominium special assessment?
AA routine monthly HOA fee
BAn additional charge levied on unit owners when reserves are insufficient to cover major repairs or expenses✓ Correct
CA government property tax for condominiums
DA fee for special amenities
Explanation
A special assessment is an additional charge levied on condominium unit owners when the association's reserve fund is insufficient to cover major unexpected repairs or capital improvements (roof replacement, elevator repair, etc.).
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