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Panama City Beach Condo Special Assessments 2025

Florida Condo Special Assessments

Condominium Special Assessments

Special assessments are extra charges levied on property owners for unforeseen or non annual costs. In 2025, the frequency of these assessments has increased due to the implementation of the Structural Integrity Reserve Study (SIRS) and Milestone Inspections.  With a capable buyer's agent, special assessments shouldn't be a concern. Simply deduct the assessment from your offer price and negotiate for the seller to cover it at closing. Special assessments are actually one of the most straightforward methods for addressing:

  • Inflation gaps in reserves
  • The need to update elevator and fire system electronics well before their expected lifespan.
  • Dramatic rise in insurance premiums (that are now going down again)
  • New structural requirements mandated by law
  • Milestone Inspection Report Deficiencies

They're an effective way to align regular association fees with the true cost of annual condo maintenance.

One Time Vs Installment Special Assessments

Special assessments can be paid as a single lump sum or through installments. This approach clearly distinguishes between regular annual dues and one-off expenses, making financial planning more straightforward for owners.

Association Loans

Although it's common for associations to take loans and repay them via the annual budget, using special assessment installments to pay off loans provides a clearer budgeting strategy.

Panama City Beach Condos with Special Assessments in 2025

This list is not exhaustive. It's advisable for your buyer's agent to assist you in gaining a thorough understanding of any existing special assessments and the potential for future assessments when searching for Panama City Beach condos for sale. Do not rely solely on this list.  For the majority of condominiums in Panama City Beach, these special assessments will facilitate the balancing of association dues to accurately reflect the annual expenses for the year.  Here's a comparison graph of 2025 condo association dues featured in our "Panama City Beach Florida Condo Association Dues 2025" article.

A Building at Dunes of Panama

Building A (Phase-1) at the Dunes of Panama underwent major changes after the Mlestone Inspection. Throughout 2025, changes were made to resolve all identified safety concerns. The building is currently shut down while undergoing a renovation project, with reopening expected in the summer of 2026.

Ramsgate Harbour Condominium

Pinnacle Port Condominiums

Pinnacle Port Condominiums approved its 2025-2026 budget (July 1 to June 30), excluding funding for the Structural Integrity Reserve Study (SIRS) reserves. In June, the board paused SIRS funding in line with HB-913 guidelines. The board will need to address reserve funding in the future. I anticipate clear communication from the Pinnacle Port Board to owners regarding the Milestone Inspection repairs and upcoming construction projects.

Ocean Villa

Ocean Villa Condominium is among the first condominium associations to proactively forecast and disclose projected special assessments (even those not yet voted on) in order to provide residents with clear guidance for the upcoming year.

Projected 2026 Special Assessments

  • April 2026: $1,036 per unit – Master Insurance policy premium for the year.
  • September 2026: $8,000 per unit – Exterior painting project.

These projections are based on current planning and are subject to change pending final quotes, board approval, and owner notification as required by the governing documents.

2026 Forecast: Detailed Explanation and Background

Master Insurance Policy (Not Included in Regular Budget)

Since December 2023, the board has chosen not to include the full master insurance premium in the annual operating budget because premiums have been too volatile to forecast accurately. Instead, insurance is now funded each year through a separate insurance special assessment.

Recent History & Current Outlook
  • 2023: A $450,000 insurance special assessment was levied ($3,600/unit), plus regular collections, totaling ~$716,000. 2024: Actual premium came in lower than expected → created a large surplus.
  • May 2024: Surplus of $357,000 was carried forward and fully paid the lower 2025 premium ($285,000).
  • Projected 2026 insurance cost are 10% lower than the $285,000 paid in 2026. That would be $256,500.
  • Today: Approximately $127,000 remains in the insurance reserve toward 2026.
  • The projected 2026 premium of $256,500 – 127,000 in the insurance reserve = 129,500 or a $1,036 projected special assessment per condo in April 2026.
2026 Exterior Painting Project

The current reserve study calls for a full building repaint in 2026 at an estimated cost of $1,500,000. Planned funding: $500,000 from remaining Hurricane Michael settlement proceeds (will reduce that account balance to ~$500,000) $1,000,000 via special assessment Projected per-unit special assessment: ≈$8,000 Timing: Expected in Q3 or Q4 of 2026

Twin Palms

Twin Palms Condominium has imposed a special assessment of $5,815 for this year (2025), which is being collected in three payments. The last installment is expected to be reduced by around $500, as insurance estimates have been lower than initially projected.

Shores of Panama

Coming Soon.

Florida Condos with Special Assessments in 2025

South Florida has been making headlines with significant special assessments and even building buyouts. Here are some of the notable news stories we've come across.

Brickell Condominium Miami

Residents of two 16-year-old buildings at 1060 Brickell in Miami, Florida, are in upset over a $21 million special assessment, with individual owners potentially facing bills over $40,000.

 

Mediterranean Village

In Mediterranean Village, reports indicate that special assessments have reached as high as $400,000.

 

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