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Subject: Special Assessment
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Author Messages
DorisW1
(Arizona)

Posts:2


01/09/2020 12:39 PM  
For the state of AZ,does the funds collected for special assessment required to be used in the calendar year they are collected?
SheliaH
(Indiana)

Posts:3356


01/09/2020 1:28 PM  
That's a legal question, so you need to ask a private attorney. I don't know if there would be a statute on this anyway - what did your board tell you (if you didn't ask them, do so).
JohnC46
(South Carolina)

Posts:9672


01/09/2020 2:29 PM  
Doris

The answer is no. I have seen Special Assessment spread out over 5 years. I seen them go to build the Reserves so no telling when they will be spent. The whatevers are usually spelled out in the request for such.
GeorgeS21
(Florida)

Posts:2902


01/09/2020 3:22 PM  
Special Assessment can normally be used per the explanation of or plan for the funds.
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Forums > Homeowner Association > HOA Discussions > Special Assessment



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