IAAO Courses
- Course 101 — Fundamentals of Real Property Appraisal
- Course 102 — Income Approach to Valuation
- Course 112 — Income Approach to Valuation II
- Course 201 — Appraisal of Land
- Course 300 — Fundamentals of Mass Appraisal
- Course 311 — Residential Modeling Concepts
- Course 312 — Commercial/Industrial Modeling Concepts
- Course 400 — Assessment Administration
- Course 402 — Property Tax Policy
- Course 500 — Assessment of Personal Property
- Course 600 — Principles and Techniques of Cadastral Mapping
- Course 601 — Cadastral Mapping - Methods & Applications
Courses: Thirty hours of instruction and a final examination.
Course 101 - Fundamentals of Real Property Appraisal
The Fundamentals of Real Property Appraisal is designed to provide the students with an understanding and working knowledge of the procedures and techniques required to estimate the market value of vacant and improved properties. This course concentrates on the skills necessary for estimating the market value of properties using two approaches to value: the cost approach and the sales comparison approach. The Fundamentals of Real Property Appraisal utilizes lectures, classroom discussion, and homework problems to emphasize the main concepts and procedures taught in the course.
Recommended: Property Assessment Valuation (PAV) textbook (3rd edition)
AQB Approved: 33.50 CE with exam / 30 CE no exam
Course 102 - Income Approach to Valuation
The Income Approach to Valuation is designed to provide the students with an understanding and working knowledge of the procedures and techniques required to estimate the market value of vacant or improved properties by the income approach. The material covers real estate finance and investment, capitalization methods and techniques, analysis of income and expenses to estimate operating income, selection of capitalization rates, and application of the approach. The Income Approach to Valuation utilizes lectures, classroom discussion, and homework problems to emphasize the main concepts and procedures taught in the course.
Recommended: Course 101, Property Assessment Valuation (PAV) textbook (3rd edition)
AQB Approved: 33.50 QE, 33.50 CE with exam / 30 CE no exam
Course 112 - Income Approach to Valuation II
IAAO Course 112 is a comprehensive, interactive program intended for mid-level, commercial-industrial appraisers. The material will cover the income approach to value in depth, and reflect contemporary appraisal theory. The course will be broad based, while covering many topics that will focus on a case study problem that utilizes methodology learned in the course and will allow the audience to work through the case study to its conclusion. Depending on the size of the class, students will be grouped, based on the instructor’s summation of the student’s class participation. The groups will generally consist of 2-4 students. Each group will be expected to present their results to the remainder of the class. The instructor will be available to assist each group.
Recommended: Course 101, Course 102, Property Assessment Valuation (PAV) Textbook (2nd edition)
AQB Approved: 33.50 QE, 33.50 CE with exam / 30 CE no exam
Course 201 - Appraisal of Land
Appraisal of Land is designed to provide the students with an understanding and working knowledge of the procedures and techniques required to estimate the market value of land. This course concentrates on the skills necessary for estimating land value primarily using the sales comparison approach.
Recommended: Course 101, Course 102, Property Assessment Valuation (PAV) Textbook (3rd edition)
AQB Approved: 33.50 CE with exam / 30 CE
Course 300 - Fundamentals of Mass Appraisal
This course provides an introduction to mass appraisal and is a prerequisite for the 300 series of courses offered by the IAAO. Topics covered include single-property appraisal versus mass appraisal, components of a mass appraisal system, data requirements and analysis, introduction to statistics, use of assessment ratio studies in mass appraisal, modeling of the three approaches to value, and selection of a mass appraisal system.
Recommended: Course 101, Course 102, Fundamentals of Mass Appraisal textbook
AQB Approved: 33.50 CE with exam / 30 CE
Course 311 - Residential Modeling Concepts
Course 311 presents a detailed study of the mass appraisal process as applied to residential property. Topics covered include a comparison of single-property appraisal and mass appraisal, the major steps in the mass appraisal process, data requirements, market analysis, application of the approaches to value, use of sales ratio studies, and valuation review techniques.
Recommended: Course 300, Mass Appraisal of Real Property textbook (MARP) - 30 hours CE
Return to TopCourse 312 - Commercial/Industrial Modeling Concepts
Course 312 presents a detailed study of the mass appraisal process as applied to income-producing property. Topics include income property data, market analysis, sales comparison approach, cost approach, cost approach, gross and net income analysis, capitalization rate development, model specification and calibration, and value review and maintenance.
Recommended: Course 300, Mass Appraisal of Real Property textbook (MARP) - 30 hours CE
Course 400 - Assessment Administration
Course 400 provides fundamental management concepts for management and supervisory personnel in the assessor’s office. The course begins by emphasizing the need for management, and the various roles placed on the assessor and all supervisory personnel. The course then introduces the four major management functions (planning, organizing, directing, and controlling). Although the four functions are interrelated, a separate chapter is devoted to each one. This provides for a greater understanding of the major functions.
Recommended: Course 101, The Appraisal Foundation’s Uniform Standards of Professional Appraisal Practice (USPAP) and Assessment Administration textbook - 30 hours CE
Return to TopCourse 402 - Property Tax Policy
Course 402 offers students’ strategies for assisting in the effective formulation and implementation of tax policies and presents background enabling students to understand the context under which property tax policy is established. Students will be given analytical tools with which they can explain the effects of proposed property tax changes. They will be provided with a sound theoretical basis to guide decision-making and to assist in creating workable solutions for their jurisdictions. The course is designed for assessment administrators and students of taxation, as well as professional policy advisors who guide and make decision in the area of tax policy on a regular basis.
Recommended: Fundamentals of Tax Policy textbook - 30 hours CE
Course 500 - Assessment of Personal Property
The Assessment of Personal Property is designed to provide the students with an understanding and working knowledge of the procedures and techniques required to assess personal property. This course concentrates on the skills necessary for listing, appraising and assessing the market value of properties using the three approaches to value: the cost approach, the income approach and the sales comparison approach. The Assessment of Personal Property utilizes lectures, classroom discussion, and homework problems to emphasize the main concepts and procedures taught in the course. The ten sections of the course present a broad mixture of theory and practical application. Exercises are included so the student can test and reinforce new skills. Time is allotted for questions and answers throughout the course. Students are encouraged to participate actively.
Recommended: Property Assessment Valuation (PAV) (2nd edition) textbook – 30 hours CE
Course 600 - Principles and Techniques of Cadastral Mapping
Principles and Techniques of Cadastral Mapping is intended to be a comprehensive, interactive program to introduce entry-level map maintenance personnel and assessment technicians to the field of cadastral mapping. Students are presented basic mapping principles and techniques and are expected to demonstrate basic skills that will allow them to plot deeded descriptions in both the metes and bounds land description system and the Public Land Survey System. Principles and Techniques of Cadastral Mapping utilize lectures, classroom discussion, and exercises to emphasize the main concepts and procedures taught in the course.
Recommended: Course 101 – 30 hours CE
Course 601 - Cadastral Mapping Methods & Applications
Cadastral Mapping-Methods and Applications is intended to be a continuation of the mapping science curriculum. It exposes students to aspects of protocol and legal principles that are not covered in Course 600. This course utilizes lectures, classroom discussion and exercises to emphasize the main concepts and procedures taught during the week.
Recommended: Course 101 & 600 – 30 hours CE