There is no limit on the number of special assessments, only on the total percentage, i.e., the board may levy five 1% special assessments in a single year, or one special assessment of 5%. Once the board hits an aggregate of 5% of the budgeted gross expenses for that fiscal year, the membership must approve any further special assessments (unless the additional assessments qualify as emergencies). There is no limit on the size or number of special assessments imposed by the membership upon themselves.
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