What Is a Special Assessment Tax? A special assessment tax is a surtax levied on property owners to pay for specific local infrastructure projects such as the construction or maintenance of roads or sewer lines. The tax is charged only to the owners of property in the neighborhood that will benefit from the project. That
What Is a Special Dividend? A special dividend is a non-recurring distribution of company assets, usually in the form of cash, to shareholders. A special dividend is usually larger compared to normal dividends paid out by the company and is often tied to a specific event like an asset sale, corporate restructuring, spinoff, or other
What Is Special Financing? Special financing is a segment of the auto lending industry for borrowers with a limited or tainted credit history. Special financing in the auto finance industry is risk based, which means that the terms of the loan are set so that the expected returns to the lender/investor are great enough to
What Is a Specialist? At one time, a specialist was the term used by the New York Stock Exchange (NYSE) to refer to a member of the exchange who acted as the market maker to facilitate the trading of a given stock. The NYSE now refers to these individuals as designated market makers (DMM). Key
What Is a Specialist Firm? A specialist firm is a company that hires specialists to represent stocks listed on the New York Stock Exchange (NYSE). Specialists on the NYSE are the market makers who facilitate trade of a certain stock by buying and selling to and from investors and holding shares of that stock when
What Is the Specialist Short Sale Ratio? The specialist short sell ratio is a measure of specialists’ short-selling activity on the New York Stock Exchange (NYSE). Specialists facilitate trading in certain stocks and make a market in the stock they trade by displaying their best bid and asking prices to the market during trading hours. The short sell
What Is a Special Item? In corporate accounting, a special item is a large, one-time expense or source of income that a company does not expect to recur in future years. Special items are reported on the income statement and are separated out from other categories of income and expenses so investors can more accurately
What Is Specialization? Specialization is a method of production whereby an entity focuses on the production of a limited scope of goods to gain a greater degree of efficiency. Many countries, for example, specialize in producing the goods and services that are native to their part of the world, and they trade them for other
What Is a Special Needs Trust? A special needs trust is a legal arrangement and fiduciary relationship that allows a physically or mentally disabled or chronically ill person to receive income without reducing their eligibility for the public assistance disability benefits provided by Social Security, Supplemental Security Income (SSI), or Medicaid. A grantor creates a
What Is a Special Power of Attorney? A special power of attorney is a legal document that authorizes one person, called an agent or an attorney in fact, to act on behalf of another person, known as the principal, under specific, clearly laid-out circumstances. Also known as a limited power of attorney (LPOA), a special
