FAQ Tag: property tax increases

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

What is a property tax “exception event”?

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

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