Ballot Measure 50 limits Maximum Assessed Value (MAV) increases to 3% per year except under certain circumstances including, but not limited to: New construction/additions of more than $10,000 in one year or $25,000 over 5 years Remodel or significant rehabilitation of more than $10,000 in one year or $25,000 over 5 years Partitioning or subdivision … Continued
FAQ Tag: MAV
Maximum Assessed Value (MAV) was established by Ballot Measure 50 for the 1997-1998 tax year. MAV is the greater of 103% of the prior year’s assessed value (AV), or 100 percent of the prior year’s MAV, whichever is greater. MAV’s for properties that existed prior to 1995 were set based on the 1995-1996 Real Market … Continued
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
Assessed Value (AV) is the lower of last year’s Maximum Assessed Value (MAV) plus 3%, or the current Real Market Value (RMV). This value provides the baseline for your tax-bill calculation.