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I <br /> LIMITED MARKET VALUE <br /> 111 An increase in taxable market value for residential, agricultural, and non-commercial <br /> seasonal recreational properties is limited. If a property's value increases due to an <br /> added improvement, there is no limitation on the value increase due to this <br /> improvement. However, if the property increases due to a revaluation, the amount of <br /> that increase for taxable purposes may be limited. An increase of 8.5% or more in <br /> estimated market value over the previous year's taxable market value will be limited. <br /> The new taxable market value cannot exceed the greater of either 8.5% of the <br /> preceding year's value or 15 percent of the difference between the current estimated <br /> market value and the previous taxable market value. <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> t <br /> valsumllmtdvalu.mkt <br /> 18 <br />