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Special levies explained

Written by dev on . Posted in Committee Education.

A special levy is an additional contribution raised by the Owners Corporation to fund expenses that cannot be met from existing administrative or capital works funds.

Special levies are commonly required for:

  • Major repairs or replacement works.
  • Building defect rectification.
  • Unexpected insurance or legal costs.
  • Emergency maintenance.
  • Capital improvement projects.

While no committee likes raising additional levies, delaying necessary expenditure can often increase costs and expose the Owners Corporation to greater financial risk.

Good financial planning reduces the likelihood of unexpected special levies. Regular reviews of your Capital Works Fund, realistic budgeting and timely maintenance all contribute to the long-term financial health of your building.

Our team helps committees understand funding options, prepare accurate budgets, explain levy proposals to owners and develop long-term financial strategies that minimise financial surprises wherever possible.