The short version
A capital assessment is a one-time charge to members for major projects: course renovations, clubhouse rebuilds, irrigation systems. It sits on top of dues and initiation.
How they happen
At equity clubs, members usually vote on assessments. At owner-operated clubs, they can be levied by the ownership. Amounts range from a few thousand dollars to well into five figures.
Before you join
Ask for the assessment history over the last ten years and whether any project is planned. A club that has just finished a renovation may be a safer bet than one with an aging course and no fund.