Which scenario requires an adjustment to MAV according to property assessment exceptions?

In property assessment, an adjustment to the Maximum Assessed Value (MAV) is necessary when there are changes that can impact how a property's value is evaluated. A lot line adjustment that does not affect the total Assessed Value (AV) can still require a MAV adjustment because it signifies a change in the physical boundaries or characteristics of the property. While the overall AV remains unchanged, the reconfiguration of the lot lines may affect the assessed value of an individual parcel due to potential changes in the development potential, usage regulations, or market perceptions associated with the new configuration.

This type of adjustment acknowledges that the manner in which properties are assessed and valued can be influenced by changes in their physical demarcations, even if the fiscal measures (like total AV) do not reflect a change in the market's financial performance or overall value assessment at that moment. The regulatory framework around property assessments often requires these adjustments to ensure that the MAV remains fair and reflective of the current circumstances surrounding each property.