FAQ Tag: assessed value

Why did my property taxes increase more than 3%?

This is a common misperception. Actually, Measure 50 only limits Maximum Assessed Value (MAV) increases to 3% per year for unchanged property. It does not limit either Assessed Value (AV) or tax rates. Taxes may increase more than 3% due to: Changes in the tax rate for your Levy Code Area, such as when a … Continued

Why did my Assessed Value increase so much?

Your Assessed Value (AV) can increase for two reasons: An Exception Event Or if your previous year’s Real Market Value was lower than your Maximum Assessed Value and now your Real Market Value is more than your Maximum Assessed value. If so, you may see a jump in your Assessed Value, depending on how low … Continued