How is the Exception MAV Adjustment calculated?

The Exception MAV Adjustment is calculated by multiplying the Exception RMV (Real Market Value) of new property by the CPR (Assessment Rate). This method ensures that the real market value of any new property or improvements is effectively integrated into the assessment process while adhering to the established statutory framework. By using this multiplication, the adjustment accurately reflects how changes in property value due to new developments influence tax assessments, allowing for a fair valuation that aligns with the overall assessment methodologies used in Oregon.

In the context of property appraisal, understanding how new properties are assessed and integrated into existing assessments is crucial. This approach helps maintain equity among taxpayers and ensures that the valuation process is consistent with the principles of property assessment in Oregon.