Glossary · Strata and condos
Special levy
A special levy is a one-time charge the strata corporation votes to collect from owners, usually for a major repair the reserve fund can't cover.
Who pays a levy approved around the time of a sale depends on the contract and when it was passed, so buyers and sellers should settle it in the offer. Minutes often show a levy coming months before the vote.
Related terms
General information, not legal or tax advice. Rules change; confirm the current figures with the province or your notary or lawyer before relying on them.
