Which of the following is true with respect to special assessment levies?

Question

Quizplus · Accepted Answer

Special assessments are typically considered a liability of the property owner and not the government. Therefore, if the government is not liable for the special assessment debt, it should be accounted for in an agency fund. Choice A is incorrect because taxpayers cannot opt out of a service-type special assessment unless they can establish that they do not benefit from the service being provided. Choice B is incorrect because service-type special assessments may be accounted for in the General or special revenue fund if the assessment revenue is used to finance a specific service. Choice C is incorrect because construction-type special assessments often involve issuing bonds, and therefore do not necessarily need to accumulate until there is enough money to finance the project.

Which of the Following Is True with Respect to Special