If the assessment is clearly a repair, rather than an improvement then it would be deductible. If the expense makes the property more valuable or extends the useful life of the building it is an improvement and would have to be capitalized and depreciated over its useful life.
You also need to consider if this would create a passive loss that could not be claimed in the current year.
Here is a good discussion of repair vs improvement: IRS Clarifies Capital Improvement vs Repair Expense?
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