What is a body corporate special levy?

It is a one-off charge a body corporate raises from owners to fund a major cost, such as a re-clad, roof replacement or weathertightness repairs, when the long-term maintenance fund does not cover it. Each owner pays a share based on their unit's ownership interest.

How is my share of a special levy worked out?

Your share is usually your unit's ownership or utility interest as a proportion of the whole building. This calculator works out your portion of the total levy from your share, and shows what to set aside each month to meet it.

Can a special levy be paid over time?

Some bodies corporate allow instalments, while others require a lump sum by a set date. Knowing your share early lets you plan, whether by saving monthly or arranging finance, rather than being caught out.

Body Corporate Special Levy Calculator

This calculator works out your share of a one-off body corporate special levy for a unit-title building in New Zealand, and what you need to save to cover it in time. Bodies corporate raise a special levy when a major cost, such as a re-clad, roof replacement or weathertightness repair, is bigger than the long-term maintenance fund can cover, and each owner is billed a portion based on their unit's ownership or utility interest. You enter the total levy set for the whole building, your unit's ownership share as a percentage, and the number of months until payment is due. The calculator returns your dollar share of the levy, plus how much to set aside each month and each week to have that amount ready by the due date. This turns an abstract building-wide figure into a personal number you can plan around, whether that means starting a regular savings transfer now or arranging finance instead. Ownership shares are not always a simple percentage, some schemes use utility interest, so confirm your exact share and payment terms with your body corporate or its manager, and check whether instalments are allowed. The figures are an indicative estimate only, meant to help with early planning rather than replace the official levy notice.

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Total special levy for the building

Your unit's ownership share

Months until it is due

your share of the special levy

Save per month to meet it$0

Save per week$0

Your share is usually your unit's ownership or utility interest. Confirm the exact figure with your body corporate, as schemes can apportion differently. Check whether instalments are allowed. Estimate only.

How it works

The calculator takes the total special levy for the building and applies your unit's ownership share to find your portion. It then divides that by the months until it is due to show what to set aside each month, and the weekly equivalent. Knowing your share and a savings target early gives you time to plan, whether by saving steadily or arranging finance, instead of facing a lump sum unprepared.

Worked example

A $1,200,000 building-wide levy, with your unit holding a 2.5% ownership share, gives a share of $30,000. With 9 months until it is due, that is about $3,333 a month, or roughly $769 a week, to have it ready in time.

Related calculators

Sinking Fund Calculator: saving for known costs.
Personal Loan Repayment Calculator: financing a levy.
Savings Goal Calculator: reach a target.
Mortgage Top-Up Calculator: top up the mortgage.

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