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
- Discovery of omitted property
- 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.