A person whose spouse has died within the tax year and who may file a joint tax return for that year. Additionally, the surviving spouse can file joint returns for the next two years if they remain unmarried and maintain a household as the principal residence for a dependent child.
Special Assessment
[ˈspɛʃəl əˈsɛsmənt]
What is the definition of Special Assessment?
A charge levied by a local government on property owners to fund specific public projects or improvements from which the property owners will benefit directly.
Using Special Assessment in an Example
A city council approves a special assessment for a new sidewalk in a residential neighborhood. The cost of this improvement is divided among the homeowners of that neighborhood since they are the direct beneficiaries of the new sidewalk.
Using Special Assessment in a sentence
Our latest property tax bill includes a special assessment for the road maintenance that was completed last summer.
Related Terms
Swap
A financial contract in which two parties agree to exchange streams of payments over a specified period, based on different indices such as interest rates, foreign exchange rates, or equity indices, applied to a notional amount. Swaps typically do not involve the exchange of principal.
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