special assessment bond


Special projects municipal bond that is repaid through taxes on the services/benefits of that special project. For example, if a city builds a community center in a certain neighborhood, individuals living in the area that benefit from the community center may see an increase in the amount of property taxes they pay. The additional tax funds would then be used to pay back bond.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
special assessment special benefit