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:

  1. New construction/additions of more than $10,000 in one year or $25,000 over 5 years
  2. Remodel or significant rehabilitation of more than $10,000 in one year or $25,000 over 5 years
  3. Partitioning or subdivision
  4. Discovery of omitted property
  5. Disqualification from exemption or special assessment

In these cases, the Assessor appraises the property to determine how much Real Market Value was added by the change(s) to the property.

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