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WHAT IS A SPECIAL ASSESSMENT?

Special Assessment bonds are issued by the City on behalf of improvement districts created for a specific purpose, such as to finance local street paving, street lighting, or water and sewer improvements. Property owners in the designated districts are proportionately assessed for the principal and interest costs of repaying the bonds.

The City, as trustee for improvement districts, is responsible for collecting the assessments levied against owners of property within each improvement district and for disbursing these amounts to retire the bonds issued to finance the improvements.

In the event of default (non payment) by the property owner, the City may enforce auction sale of the property to satisfy the debt service requirements of the special assessment bonds. The City of Tucson administers special improvement districts in accordance with the provisions of Arizona Revised Statute Chapter 4 of Title 48 which governs these types of taxing districts.

Additional information on Arizona Revised Statutes may be found on the State of Arizona website at: http://www.azleg.state.az.us/ArizonaRevisedStatutes.asp?Title=48