ValuationOregon_property_tax_assessment_and_measure_50EASY
A property in Salem has a Maximum Assessed Value (MAV) of $200,000 in the current tax year. Under Oregon's Measure 50, what is the maximum MAV for this property in the following tax year, assuming no exception events occur?
Correct Answer
B) $206,000
Under Oregon's Measure 50 (ORS 308.146), the Maximum Assessed Value (MAV) may increase by no more than 3% per year when no exception events occur. Calculation: $200,000 × 1.03 = $206,000. This 3% cap is a constitutional limit under Article XI, Section 11 of the Oregon Constitution.
Answer Options
A
$202,000B
$206,000C
$210,000D
$220,000Why This Is the Correct Answer
Sign up free to unlock full analysis
Why the Other Options Are Wrong
Sign up free to unlock full analysis
Deep Analysis of This Valuation Question
Sign up free to unlock full analysis
Background Knowledge for Valuation
Sign up free to unlock full analysis
Sign up free to unlock full analysis
Real World Application in Valuation
Sign up free to unlock full analysis
Related Topics & Key Terms
Key Terms:
measure_50maximum_assessed_value3_percent_capproperty_tax_calculationmath
Was this explanation helpful?
More Valuation Questions
Example of economic obsolescence in real estate?
Who typically hires the appraiser in a real estate transaction?
Which appraisal report type do California lenders commonly rely on for single-family residence financing?
Return of an investor’s investment is provided for through:
All of the following are one of the four important elements of value, except:
- → Under the replacement cost approach of appraisal, an appraiser is least interested in:
- → The appraisal process which allocates a percentage of a property’s total value to the land and a percentage to the improvements is known as:
- → Which Tennessee government body is primarily responsible for appraising real property for ad valorem tax purposes at the local level?
- → A property's value decreased because a noisy highway was built nearby. This is an example of:
- → Which of the following is the least important factor used to determine the market value of a property?
- → In Texas, a comparative market analysis (CMA) can be prepared by:
- → All of the following have a specific dollar value, except:
- → In which appraisal approach to value would the value for the land be calculated separately?
- → In Texas, functional obsolescence includes:
- → A capitalization rate of 8% on a property with $40,000 NOI indicates a value of: