If you own the unit you are residing in, you will actually be compelled to pay an assessment fee. This assessment fee is important because this will determine the accurate market value of your unit. If for example your unit costs $1,000.00 (hypothetically), come next year, after you have paid the assessment fee, the government will “assess” or review the value/worth of your unit. It may change or it may retain its original amount depending on the status of the building’s environment. If the street where the building is located was paved, the market value of your unit will increase. Or perhaps if a new mall was built near it, then it’ll have the same effect on its market value. This is actually beneficial for those who wish to rent or sell their units in the future.

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