What is the reserve levy?
Written by Jessica Tait
Updated at January 18th, 2021
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The Reserve levy is more like a savings account. A contingency fund for accruing funds that are long term projects, or projects that are at the end of their serviceable period; such as painting, lifts etc. This levy accrues over time alleviating the need for a specific purpose levy. Once the reform has been passed this reserve levy will be a holding account for your 5 – 10-year maintenance plans.