Illinois HOA Special Assessment Rules (2026)
765 ILCS 605/18 (Illinois Condominium Property Act) · Last reviewed 2026
A special assessment is a one-time charge levied by an HOA board to cover an unexpected or deferred expense not covered by the operating budget or reserve fund. Below are the key rules that govern how Illinois HOAs may levy special assessments and what rights homeowners have.
Key facts at a glance
Can levy without member vote
Board may levy special assessments for common expenses with a minimum 10-day notice to unit owners. No statewide dollar cap — the declaration may impose limits.
Not required by statute
Trigger: Only if required by the community's declaration or bylaws
10 days
Advance written notice to members before assessment levy
Available
Board may levy emergency assessments without the 10-day notice when immediate action is required to prevent harm to persons or property.
- Board may levy special assessments with a minimum 10-day written notice
- No statewide cap — declaration may set limits
- Emergency assessments may bypass the 10-day notice requirement
- Unit owners have the right to review financial records
- Special assessments must be disclosed in the resale disclosure package
Illinois condo unit owners have the right to inspect financial records and may challenge assessments at a board meeting. Disputes can be escalated to the Illinois courts.
Pending special assessments must be disclosed in the resale disclosure (RTLA). FHA and Fannie Mae review active special assessments for condo loan approval.
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Start 14-Day Free TrialThis page provides general legal information only — not legal advice. HOA special assessment laws vary by community type (planned community, condominium, cooperative, etc.) and are subject to change. The information on this page is based on statutes in effect as of 2026 and may not reflect recent legislative changes. Always consult a licensed HOA attorney and review your governing documents before taking action.