Final answer:
Taxes imposed on a property owner for improvements benefiting only that property are known as Special Assessments.
Step-by-step explanation:
Special assessments are taxes imposed on property owners by a local government to fund specific improvements or projects that directly benefit those properties. These assessments are distinct from general property taxes as they are earmarked for localized enhancements, such as road repairs, sidewalk installations, sewer system upgrades, or other infrastructure developments. The cost of these improvements is distributed among property owners in the affected area based on factors like the property's size, value, or proximity to the improvement. Once the enhancements are completed, property owners are typically required to pay these assessments either as a lump sum or through installment payments over a defined period. Special assessments are a means for communities to finance and execute necessary enhancements while allocating the costs fairly among the beneficiaries of the improvements.