Special assessments or special taxes are fairly common in the Wichita, KS area. These are charges attached to real estate for public projects. Examples of these public projects are installing water lines, sewer lines, paving streets, street lighting, sidewalks and parking structures.
Almost all brand new homes have special taxes. Specials are usually spread over 15 or 20 years at a low interest rate. In general homes that are 15 years or older have these specials already paid off. Although older homes can have special taxes, too. , usually they are for paved roads, water or sewer lines. You may pay off specials at any time.
It is important to know if a home you are purchases has specials and how much they are. Special taxes can greatly affect your house payment.
It is the law in Kansas that special taxes must be disclosed.