HOA Special Assessment Calculator
When reserves fall short of a major repair, boards turn to a special assessment. This free HOA special assessment calculator splits a one-time project cost across your units, either equally or by square footage, and can spread each owner's share over a monthly payment plan so you can communicate the impact clearly.
- Total project cost
- $300,000
- Units
- 120
- Per unit assessment
- $2,500.00
- Monthly for 12 months
- $208.33
How it is calculated
With the equal method, the total project cost is divided evenly by the number of units. With the by square footage method, each unit pays its proportional share: its square footage divided by the total community square footage, applied to the total cost.
If you enter a payment plan length, the per-unit assessment is divided by that number of months to show a simple monthly installment. This estimate does not include interest or financing charges some associations add to payment plans.
Run your whole HOA on hoa.to
These calculators cover one number at a time. FourCents HOA does the whole job: online dues, real fund accounting, budgets, reserves, delinquency automation and owner-visible financials.