What is an Assessment? An assessment (sometimes referred to as a Maintenance Fee) is an Owner’s financial obligation to a community association during a given period of time (typically one year). It covers the owner’s share of the common expenses. An annual assessment may be paid on a monthly, quarterly or annual basis. An assessment is a binding legal obligation based on the community association’s governing documents. In condominiums and planned communities, assessments are binding obligations that the owner cannot avoid.    Read the article…………………….