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All associations that elect to be taxed as a homeowners association are entitled to a speciï¬c $100 deduction from its taxable income. This means that associations with relatively small amounts of taxable income could have their tax liability eliminated by the application of the speciï¬c $100 deduction.
Report Abuse. Only if the special assessment was for something that was tax-deductible-- like county taxes -- but it's very unlikely you would not be billed directly for those as the property owner. SDD Â· 9 years ago. Thumbs up. 0.