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Smith has paid an extra $20,000 over two years for special assessments at her Point Brittany building, money meant to cover unexpected or major repairs that cannot be paid via the condo ...
Imagine being a property owner in a condominium who is humming along paying the mortgage and then getting a letter from your homeowner's association (HOA) informing you of a six-figure assessment.
While variations of the concept of special assessments have existed in a number of the world’s nations since the 1600s, [2] in the US a special assessment is more formally defined through court action as remuneration that a governmental unit may demand from property owners to fund a public project which creates a "benefit" in properties lying ...
According to the institute, the letters "do not represent specific words", and an MAI may not use the words "Member, Appraisal Institute" in lieu of the MAI mark. The primary motive for this rule is to prevent trademark dilution. These designations require attendance in appraisal technique classes, ethical training, exams, and a review of the ...
A $21 million special assessment fee has outraged residents of two 16-year-old buildings at 1060 Brickell in Miami, Florida, with some unit owners facing individual bills exceeding $40,000.
The land property tax, called "territorial tax" or "contribution", is an annual amount paid quarterly by the property's owner. It is determined as a percentage of the property's "fiscal value", which is calculated by the Internal Revenue Service, based on the property's land and built area, construction materials, age, and use.
Per the new Florida law, all three-story-plus condo buildings and at least 30 years old must undergo a mandatory engineering assessment before Dec. 31, 2024. Condo associations must also shore up ...
Starting in 2013 when mobile software became popular on construction sites, many construction teams started using software to manage their punch lists. Today there are a variety of punch list applications, ranging from simple mobile apps to more comprehensive web and mobile platforms.