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Detailed Program Description

Sunday, October 29, 2017 - Optional Half-Day Forum

1:00-4:00 p.m.

Automated Valuation Models and GIS - Methods, Applications, and Standards in Valuation

Daniel Fasteen, Ph.D., IAAO Research Subcommittee Chairman, CAMA & Systems Manager, Dakota County, MN, US
Paul Bidanset, Ph.D. candidate, IAAO Research Subcommittee Member, CAMA Modeler Analyst, Norfolk, VA, US and Ulster University/Northern Ireland

Prior to the Symposium, on Sunday, October 29th IAAO will present a half-day forum covering the latest developments in valuation modeling. In this half-day forum, students will participate in an interactive discussion on automated valuation models (AVMs) and geographic information systems (GIS). An AVM is a mathematical model used to analyze comparable sold properties in order to derive valuations for unsold properties. AVMs along with GIS, which can be used to capture and understand spatial relationships among phenomena, can be used together to discover a new level of insight into deriving valuations and improving performance.

The forum will be presented by IAAO Research Subcommittee Chair, Daniel Fasteen, Ph.D. and IAAO Research Subcommittee member, Ph.D. Candidate, Paul Bidanset and will explore basic concepts and demonstrate applications of methodologies used in building valuation models using industry practices. The application of GIS in order to account for location effects will also be addressed. Additionally, a brief discussion on standards regarding AVM concepts will also be facilitated.

Topics covered will include:
• Types of Automated Valuation Models
• The life-cycle of building AVMs (and how to get started)
• Compiling and cleaning data
• Selecting appropriate AVMs (Model specification)
• Variable selection and calibration
• Enhancing AVM performance using GIS
• Interpreting AVM outputs for valuation adjustments
• Visualizing AVM output
• Measuring performance and improvement using ratio studies
• AVM Standards

Paul Bidanset is a Ph.D. real estate candidate at Ulster University’s School of the Built Environment. He is concurrently working with the city of Norfolk, Virginia’s Office of the Real Estate Assessor as their CAMA modeler. His research has been published in several real estate journals and books throughout the world and he has presented internationally on the subject of improving AVMs with geocomputational and other advanced statistical methods. His Ph.D. dissertation on improving AVMs was a recipient of the Lincoln Institute of Land Policy’s 2015 C. Lowell Harriss Dissertation Fellowship. He currently serves on the IAAO Research Subcommittee and as a reviewer for the Journal of Property Tax Assessment & Administration.

Daniel J. Fasteen, Ph.D. is the CAMA and Systems Manager for the Dakota County (Minnesota, USA) Assessor’s Office. Daniel has been in the property valuation profession since 2010 where his interests include automated valuation models (AVM’s), integration of GIS and CAMA technology, as well as technology adoption in the Assessor work environment. Dan has a Master’s degree in Geography and a Ph.D. in Research Methodologies and Applied Statistics, both from the University of North Dakota. Daniel currently serves on the editorial board of the Journal of Property Tax Assessment & Administration and is also the chair of the IAAO Research Subcommittee.

4:00-5:00 p.m.

Networking Break

Networking Coffee Break following Forum

Monday, October 30, 2017

8:30-8:45 a.m.

Welcome and Opening Remarks

Property Tax Administration and Tax Policy: World Development Challenges

8:45-10:00 a.m.

Achieving Successful Implementation of Value-based Property Tax Reforms

Richard Grover, Senior Lecturer, Department of Real Estate and Construction, Oxford Brookes University, UK
Aanchal Anand, Land Administration Specialist, World Bank, US

This presentation will highlight the results of a project carried out in 2015 by the World Bank and FAO to identify the lessons learned from property tax reforms and good practice that could be shared. The research was primarily based on eight country case studies of emerging European economies (Albania, Kazakhstan, Lithuania, Moldova, Poland Serbia, Slovenia, and Turkey at varying stages in the development of value-based recurrent property taxes. The Netherlands, which has a well-developed mass valuation system, was included as a comparison.

The presenters will identify the key technical and institutional arrangements needed for successful property tax reform, the comprehensiveness of property registration, the quality of transaction price data, the extent to which the valuation infrastructure meets internationally-recognized standards, and the quality of tax collection systems and what can cause well-designed reform programs to fail.

Richard Grover is currently a part-time Senior Lecturer in Real Estate in the School of Built Environment at Oxford Brookes University teaching real estate economics and property valuations mainly on programs accredited by the Royal Institution of Chartered Surveyors. Before retiring and taking up this part-time appointment, he was assistant dean of the faculty. His main academic interests are in the property markets of transition countries, property rights, and property taxation. He has undertaken a number of projects for FAO and the World Bank, most recently in Serbia, Turkey, Cyprus, and Moldova. He has been the lead consultant on a World Bank project on Property Valuation and Taxation for Fiscal Sustainability and Improved Local Governance in the ECA Region funded by World Bank ECA Region’s Programmatic Trust Fund for Public Finance Management and the World Bank-F.A.O. Co-operative Program. This has looked at the issues involved in property tax reform in nine countries. The case studies were published in the Land Tenure Journal issue 2/15 in March 2016 and a Best Practice Guide based on this work is expected to be published later this year.

Aanchal Anand is a Land Administration Specialist in the Global Land and Geospatial Unit of the World Bank. Prior to the World Bank, she worked as an investment banker in London and as a corporate strategy professional in New Delhi. Aanchal has a BSc in Economics from the London School of Economics and an MA in Economics and International Relations from Johns Hopkins University. She speaks English, Hindi, and Russian.

Fraud, Avoidance, Corruption and Evasion in Land and Property Tax

David Magor OBE, Executive Director, Institute of Revenues Rating and Valuation (IRRV), UK

The integrity of land and property taxes is critical to the effective operation. It is essential that taxpayers have confidence in the system and can be satisfied that every effort is being made to secure the tax. This presentation will investigate the scale of evasion and avoidance of property and land taxes and suggest measures for reducing and eliminating this risk.

David Magor is the Chief Executive of the Institute of Revenues, Rating and Valuation. He was formerly the Director of Housing and Revenues at Oxford City Council, David is a past President of the IRRV and became its CEO in 2001. He was awarded the OBE by the Queen in 1994 for his services to local government. His knowledge of the theory and practice of Local Government Finance and Benefits is held in high regard and he has been a frequent advisor to Government departments such as the Department for Work and Pensions, Department for Communities and Local Government, and the Ministry of Justice. He also was an advisor to the Local Government Association. He was a member of the OECD/World Bank training group advising transition countries and has been an advisor to the Northern Ireland Assembly. He has participated in numerous missions worldwide on local taxation, he recently returned from a successful visit to advise the Chinese Ministry of Finance on property tax.

10:00-10:15 a.m.

Coffee Break


10:15-11:45 a.m.

Projecting Benefits from Land & Property Tax Information Systems Modernization

Christopher Barlow, Thomson Reuters, US

This presentation summarizes research papers and case studies on the realized benefits governments from modernizing land and property tax information systems. Drawing on research conducted or else commissioned by Thomson Reuters, examples of realized benefits will include at the department, government-wide, and societal levels from jurisdictions in a number of countries. Shortened valuation cycles, a decrease in valuation appeals, improved valuation accuracy are some examples of benefits. Research draws from the experience of Cape Town, Clark County (Las Vegas, USA), and Melbourne, Australia, as examples.   The presentation proposes that as an industry we need to better define and benchmark metrics to project the returns, either operationally or else financially, when preparing a modernization initiative. 
 
Christopher Barlow is the Head of Marketing for Thomson Reuters Tax & Accounting Government business. He works to promote the impact technology has on governance, specifically through secured land tenure and enhanced government revenue generation capabilities. 

Christopher has twenty years of professional experience. Including having worked in China, Korea, Singapore, Thailand, Vietnam and Mongolia on land information systems and mapping projects. His work includes partnering with governments, multilateral organizations, industry institutions and media outlets to advance industry knowledge. He has presented and published extensively on land information and property tax modernization. 

He received his M.B.A. and also M.A. (geography) from the State University of New York (SUNY) in Buffalo, and his B.A. in East Asian Studies from Western Washington University. 

Large Scale Land Acquisition, Land Transfer Standards and Fair Compensation: Is Mass Valuation the Way Forward?

James Kavanagh, Land Group Director, Royal Institution of Chartered Surveyors (RICS), London, UK

Large scale acquisition of land, and fair compensation for infrastructural development is a growing issue in low/middle income nations and a source of concern for international development bodies such as the World Bank and UN agencies. Many much needed regional and national infrastructures can be held back or even abandoned due to land issues. Drawing on current RICS research and other sources, Mr. Kavanagh will explore how eminent domain/compulsory acquisitions work, or do not work in some nations, how land valuation/appraisal is a core component of fair compensation, and how mass appraisal might be utilized when market comparable information is scarce.

James Kavanagh MRICS C.Geog is a Chartered Land Surveyor & Chartered Geographer. James studied at DIT Dublin, Ireland and University of London. With over 25 years’ experience in the global land and property sectors, he has worked on some of the largest projects in Europe before spending several years working on formal and informal land rights issues whilst working for the United Nations (UNRWA). James is currently Director of Global Land & Resources with The Royal Institution of Chartered Surveyors (RICS). He is the author of numerous land & property journal articles, has presented professional and technical papers at numerous global conferences (World Bank 2017, FIG 2016, UNECE 2017) and regularly lectures on professional practice. James is also the co-author of several land and property industry standards, professional guidance notes and specifications including most recently the Valuation of Mineral Bearing Land, Measured Surveys and Rights of Light. He is a member of the Land Technologists Group along with World Bank, USAID, Cloudburst Group, Devex, Land Registry and Thomson Reuters.

11:45 a.m.-1:00 p.m.

Lunch Break

Keynote speech by Miguel A. López, Inspector, Bank of Spain

Property Tax Administration and Tax Policy: World Development Challenges (continued)

1:00-2:45 p.m.

Why Taxes Matter

Peter Jongkind, Program Director, VGN International (Netherlands Association of Municipalities), Netherlands
Having no access to clean water, homes without electricity, or children without disease-preventing vaccines, in many countries still is a fact of life. Like them or not, taxes pay for these public services. VNG-International developed a methodology to assist municipalities to better mobilize their own resources, to empower them to take command of their own development again, and to restore trust, commitment, co-operation, and coordination between local government and the society.

The session will introduce the attendees to the different components of the methodology and the results that can be realized; it will make them aware that taking into account the interests of often excluded citizens combined with supporting the municipality with capacity building and availability of modern IT tools can lead to improved revenues and better services.

Peter Jongkind is Program Director, VGN International (Netherlands Association of Municipalities), Netherlands.After his psychology studies in Amsterdam and some years of work in the field he worked for five years as a researcher at the Vrije Universiteit (Free University) of Amsterdam. In the 1980s he joined the Ministry of Finance and the Dutch Tax and Customs Administration (DTCA) . He was responsible for major big business change programs such as the introduction of intranet and internet and the modernization of the revenue collection. He also worked as deputy director of the training and communication department of the DTCA. From 2011 Peter has been supporting tax administrations (national and local) in modernization projects in different countries such as Mozambique, Ghana, Greece and Peru. Since last year he is working as program director for VNG International (the international department of the Association of Municipalities in the Netherlands) to develop and implement concepts and services to improve local tax revenues and public services.

The Tension between Legislation and Common Valuation Principles in the Netherlands

Marco Kuijper, Strategy Developer, Netherlands Council for Real Estate Assessment, Netherlands
Ruud M. Kathmann, Manager, Netherlands Council for Real Estate Assessment, Netherlands
Ben Bervoets, Non-residential Property Valuation Specialist, Netherlands Council for Real Estate Assessment, Netherlands

The tension between legislation and common valuation principles in the Netherlands. The appraisal for property taxation in the Netherlands is regulated in the act for real estate assessment, which states that the market value is the basis for taxation.

In disputes on the value the tax judges expect an unachievable accuracy in the determination of the market value, continuously forcing assessors to overrule the valuation models. In our presentation, we will elaborate on the challenges that emerge from this practice and we explain how we deal with this situation.

Marco Kuijper completed his study geodetic engineering at the Delft University of Technology where he graduated in 2001. In 2006 Marco became a certified internal auditor after completing a study on this discipline at the Erasmus University Rotterdam. At the Netherlands Council for Real Estate Assessment one of the main tasks of Marco is developing the organizational strategy.

Ruud M. Kathmann (1961) has studied geodetic engineering at the Delft University of Technology and graduated in 1985. He is a member of the management team of the Dutch Council for Real Estate Assessment. From this position Ruud is closely involved to the development of the System of Base Registers. In The Netherlands Ruud is considered to be one of the leading specialists on the areas of geo-information, mass-appraisal and e-government.

Ben P.P. Bervoets received a master degree in public administration in 2015 at the Leiden University. Prior to that he obtained a bachelor degree in real estate management. Ben has a lot of experience in the execution of mass appraisal projects in several Dutch municipalities. At the Netherlands Council for Real Estate Assessment Ben is a specialist in the field of non-residential property valuations. For this organization Ben is a permanent representative at TEGoVA, The European Group of Valuers' Associations.

2:45-3:00 p.m.

Afternoon Break

International Application of Unique Valuation Topics

3:00-4:30 p.m.

Theme Park Valuation

Rick Singh, CFA, Property Appraiser, Orange County, FL, US
Terry Taylor CAE, RES, CFE, Director, Real Estate Residential Assessment, Orange County, FL, US
The presenters will demonstrate the methods, techniques, and magnitude and importance of fair and equitable assessments of theme parks and explore seven theme parks within Orange County, Florida that provide realistic positive economic impact when establishing market value. Attendees will walk away with a stronger understanding of these complex properties.

The attendees will also gain a collaborative resource with challenging theme park valuation. The techniques, methodologies and approaches to value presented will contribute to a stronger understanding of these complex properties. The positive economic impact of fair market value for how to evaluate the distinctiveness of theme parks will be understood.

Rick Singh was elected as Orange County Property Appraiser in 2012, and has served taxpayers well by returning more than $550 million to the tax roll. He is a licensed real estate broker and a state-certified residential appraiser with the Florida Department of Business and Professional Regulation. He has completed more than 100 hours of professional appraisal courses with the International Association of Assessing Officers (IAAO) and has earned both the Certified Florida Appraiser (CFA) and Certified Florida Evaluator (CFE) designations from the Florida Department of Revenue. He currently sits on several community and countywide boards, including the Orlando Economic Development Commission and the Boy Scouts of America Central Florida Council. He has been recognized for his service in the community and was honored with the Bill Nelson award for public service. Prior to becoming property appraiser, Rick worked in the private sector as a professional appraiser of commercial and residential properties.

Terry Taylor is Director, Real Estate Residential Assessment for Orange County. He earned a Bachelor of Science in Business Administration at the University of Central Florida. He is also a Professionally Designated Appraiser recognized by the International Association of Assessing Officers with both a Certified Assessment Evaluator (CAE) and the Residential Evaluation Specialist (RES) designations. Terry is active with IAAO nationally and within the Florida Chapter IAAO as an Instructor and a Professional Designation Advisor serving as on several committees.

The Valuation of Specialized Properties

Paul Sanderson JP LLB (Hons) FRICS, FIRRV, President, International Property Tax Institute, UK

This presentation will look at the issues concerning the valuation of specialized properties for property tax purposes. Mr. Sanderson will present various problems property tax assessors face in valuing such properties and how they deal with the issues.
The presentation will include some audience participation. Attendees will leave with a better understanding of the issues involved in specialized properties and insights into how specialized properties can be valued.

Paul Sanderson is the President of the International Property Tax Institute (IPTI). IPTI is an independent, not-for-profit organisation specialising in the use of property tax to support the provision of good quality local services. IPTI has a network of experts around the world who specialise in all aspects of property tax including policy, administration, assessment and collection. In addition, IPTI runs conferences, workshops, seminars and provides education courses to assist those dealing with property tax whether as taxpayers, professional advisors, assessors, collectors or academics.

Prior to becoming President of IPTI, Paul was the Director at the UK Valuation Office Agency (VOA) responsible for providing professional advice and technical guidance across a wide range of valuation and property issues.

Paul has also worked as a specialist consultant to both the World Bank and United Nations in providing professional advice to support various urban infrastructure and other property-related projects in developing countries.
Paul also provides professional advice to G L Hearn, one of the UK’s leading independent property consultancies. Paul has over 45 years’ experience in property valuations for a variety of purposes and he has been involved either as an expert witness, advocate, or client/supervisor for some of the most significant UK cases involving valuation litigation.

4:30-5:00 p.m.

Review & Closing Remarks


5:00 - 6:00 p.m.

Reception

Spanish Tapas and Cash Bar

Tuesday, October 31, 2017

8:30-8:45 a.m.

Welcome and Opening Remarks

International Land Administration System Development

8:45-10:00 a.m.

GIS Technology Enabling Modern Land Administration

Brent Jones, PE, PLS, Global Manager Land/Cadaster, Environmental Systems Research Institute (ESRI), US
The advances in GIS technology and the continued rapid development of new capabilities has consistently demonstrated globally that GIS is the platform for land administration. This presentation will discuss new technology and the changes in how we plan, develop and deploy modern land administration systems. Attendees will understand the new capabilities of off-the-shelf technology, the advantage of open standards, and how to begin the transition to a modern system. Attendees will learn the availability of global data sets, cloud capabilities and the change in the approach to land administrations from building to configuring.

Brent Jones is based in Washington D.C. and oversees Esri’s worldwide strategic planning,business development, and marketing activities for land records, cadastral, surveying, and land administration. As a recognized technology innovator, Jones specializes in modernizing existing land administration systems and designing new GIS-based cadastral management platforms for small and large governments around the globe. He is a member of the URISA board of directors, past president of the Geospatial Information and Technology Association and a current member of the United Nations Committee of Experts on Geospatial Information Management sitting on the Expert Group on Land Administration and Management. Established in 1969, Esri creates systems that drive all components of land and cadastral administration, including addressing, registration, taxation/valuation, planning, and development.

What’s New at the IAAO!

Margie Cusack, IAAO Research Manager, US
This a quick look at what’s happening and the latest offerings of the IAAO.

Margie Cusack serves as the Research Manager for the International Association of Assessing Officers, creating original research and publications studying emerging trends and best practices for application in assessment administration.

Margie brings real-world experience in property tax administration to IAAO research. Prior to this position, Margie was the Director of Real Estate for the Cook County Clerk’s Office. Margie was responsible for calculation of approximately $14 billion in local taxes derived from approximately 1.86 million properties. Margie’s thirty years of property tax administration specialized in GIS system expansion, property valuation and tax policy development. Prior to leading the Clerk’s Office Taxation Unit, Margie was the Chief of Valuations at the Cook County Assessor’s Office. Margie led government transparency efforts and recently created an integrated Land Management system that is transferrable to use at any government level.

Margie has two Master’s degrees from the University of Chicago, one in Political Science and the other from the Harris School of Public Policy. Margie served in the Mentor program of the Harris School of Public Policy and has also taught Public Policy Administration at the graduate level at the University of Illinois at Chicago.

10:00 -10:15 a.m.

Coffee Break

Spotlight on International Mass Valuation Systems and Automated Valuation Models

10:15-11:45 a.m.

Using Mass Valuation Systems for Alternative Purposes: Lithuanian Experience

Rūta Kliunkienė, Specialist for Buildings Valuation, State Enterprise Centre of Registers, Vilnius, Lithuania

Mass valuation system is often regarded as expensive by the public and by funding authorities. However, using it for non-taxation uses makes the whole system more cost efficient and has a positive economic impact for many stakeholders. The presentation will be on a range of alternative uses of Lithuania’s mass valuation system: meeting other (non-taxation) state economic needs, providing sales data to property professionals and publishing comprehensive property data online for public use.

The attendees will be engaged with detailed practical examples of alternative uses of Lithuanian mass valuation system providing the information of how effective they have been.

Rūta Kliunkienė is a Chief Specialist for Buildings Valuation at Valuation for Public Needs Division, State Enterprise Center of Registers, Lithuania. Her responsibilities at Center of Registers include methodological guidance, quality control and coordination of yearly revaluation of buildings; also she is a member of the Real Property Taxpayers’ Appeals Commission. She holds a Master’s Degree in European Real Estate from Kingston University, London and Bachelor’s Degree in Real Property Management from Vilnius Technical University.

New Developments with IAAO Standards

Randy Ripperger, CAE, IAAO President & Assessor, Polk County, IA, US
August Dettbarn, IAAO Technical Standards Subcommittee & Douglas County, KS, US

This presentation will provide an overview of IAAO Standards and their importance in international application. This discussion will also focus on the IAAO Standard on Automated Valuation Models (AVMs). Ideas will be shared on what developers and users need to know to create and evaluate performance of an AVM. The presentation will engage the audience by sharing viewpoints on uses and limitations of AVMs and their application in government offices. Attendees will better understand how to evaluate the quality of AVM models and their output. They will also learn how data quality and quantity limitations may affect model reliability and value conclusions.

IAAO President Randy Ripperger, CAE, is the Assessor for Polk County in Des Moines, Iowa. He has worked in the office for 36 years. Ripperger is currently IAAO President and served on the Executive Board from 2011 through 2013. He has been a member since 1981 and has chaired the Education and Professional Designations Subcommittees, and the Budget Committee. Ripperger holds the Certified Assessment Evaluator (CAE) designation and was awarded the Verne W. Pottorff, CAE Professional Designee of the Year Award in 2011. He is also a senior instructor and the grading chair for IAAO’s professional designation program. He has a B.A. degree in economics from Central College in Pella, Iowa.

August Dettbarn is Appraiser Manager for Douglas County, KS and has 10 years practice as architectural designer and project manager in private sector, four years as design consultant and program manager for United States Department of Housing and Urban Development Section 8 housing rehabilitation program. He has 30 plus years in single property appraisal and market analysis using Auto-CADD based spatial modeling and has been with Douglas County, Kansas since 1986. He currently serves on the IAAO Technical Standards Committee for the revision of the IAAO Standard on Automated Valuation Modeling. He received a Bachelors of Environmental Design University of Kansas and is a lecturer on property valuation and analysis of spatial data as it relates to land use policy for the Public Administration Program of the University of Kansas.

11:45 a.m. -1:00 p.m.

Lunch Break

Spotlight on International Mass Valuation Systems and Automated Valuation Models (continued)

1:00-2:45 p.m.

Estimating Value in the Absence of Transactions: Spatial AVMs Using Census Data from Malawi Africa

William McCluskey, Ph.D., Professor, Ulster University Northern Ireland
Peadar Davis, Ph.D., MRICS, Professor, Ulster University Northern Ireland
Michael McCord, Ph.D., Professor, Ulster University Northern Ireland
Paul Bidanset, Ph.D. Candidate, Ulster University Northern Ireland

Due to physical, legal, and other barriers, as well as cost prohibitive reasons associated with data collection and storage, sparse data can be a common hurdle in the effectiveness of governments who depend on or are considering the implementation of a property tax regime. The ability to estimate, with some degree of confidence, property values for certain geographic areas is oftentimes a highly difficult task, particularly in areas with little or no sales transactions. This research develops a model to estimate house price determinants across an entire country (Malawi, Africa) using secondary data collected in the Malawi Integrated Household Survey. Advanced spatial interpolation AVM techniques will be compared using IAAO ratio study standards.

Paul Bidanset is a Ph.D. real estate candidate at Ulster University’s School of the Built Environment. He is concurrently working with the city of Norfolk, Virginia’s Office of the Real Estate Assessor as their CAMA modeler. His research has been published in several real estate journals and books throughout the world and he has presented internationally on the subject of improving AVMs with geocomputational and other advanced statistical methods. His Ph.D. dissertation on improving AVMs was a recipient of the Lincoln Institute of Land Policy’s 2015 C. Lowell Harriss Dissertation Fellowship. He currently serves on the IAAO Research Subcommittee and as a reviewer for the Journal of Property Tax Assessment & Administration.

Dr. Peadar Davis is a Chartered Surveyor and Senior Lecturer in Property Appraisal and Management. He was previously employed in private practice as a property valuer and asset manager.

He specialises in providing research, consultancy and training solutions for property taxation in developing/transitional jurisdictions. Recent property related work includes: advising the World Bank, FAO UN and the Ugandan Government on Government property valuation process modernisation and the introduction of CAMA; advising the Ethiopian Government on appropriate valuation training reform; advising the Dubai Land Authority on the creation of property market indices and advising Housing Associations on matters of investment and development strategy. Previous research has been instrumental in informing the review of Northern Ireland, Ugandan and Egyptian property tax policy and training of consultants in Kosovo. Peadar is the Editor (Property) for the Journal of Financial Management of Property and Construction (www.emeraldinsight.com/journal/jfmpc).

Dr. Michael McCord is a Reader in Property Market Research within the School of the Built Environment at Ulster University. Having enjoyed his academic studies, Michael gained a thirst for research which led him onto a Ph.D. pathway where he obtained Ph.D. in Property from the School of the Built Environment, University of Ulster, winning Best Ph.D. Thesis in School of the Built Environment (2010).

His principal teaching areas are in the fields of real estate market analysis and econometrics, property finance and capital markets. His current research interest's centre on house price dynamics, market modelling, property taxation and investment analysis related to capital markets. Michael has a sizeable portfolio of esteemed commissioned research projects, peer reviewed journal publications, book chapters and international conference papers. He serves on the editorial boards, and is an expert reviewer for a number of prestigious international journals. He has received international recognition for his research endeavours, receiving an Outstanding Reviewer Award for the Journal of Financial Management of Property and Construction in 2013 and receiving a best paper award at the ARES conference in Hawaii in 2014.

Statewide Mass Appraisal of Multi-Family Properties

Julie Roisen, MA, CAE, Property Tax Administrator, Iowa Department of Revenue, US
Robert Gloudemans, Partner, Almy, Gloudemans, Jacobs & Denne, US

The session will describe a mass appraisal of multi-family residential properties undertaken by the Iowa Department of Revenue for purposes of evaluating compliance by Iowa's 107 assessment jurisdictions with market value standards imposed by new legislation. The presentation will describe the methodology employed and provide insights into the feasibility of employing economic, demographic, location, and property characteristics data across a vast geographic area comprised of widely varying properties, communities, and political divisions.

Julie G. Roisen is the Property Tax Division Administrator for the State of Iowa Department of Revenue. In this capacity, she has oversight for all aspects of local property and excise tax administration, including ownership records credits and exemptions, equalization, billing and collections, assessor conduct, GIS mapping functions, and fund distribution.

Prior to joining the Department over five years ago, Ms. Roisen served as the Deputy Director of Taxpayer Services in Blue Earth County, Minnesota; a Commercial Appraiser for Washington County, Minnesota and the City of Bloomington, Minnesota; an Appraiser in Freeborn County, Minnesota; and also owned and operated her own appraisal company, Integrity Appraisals. While serving as Deputy Director for Blue Earth County, Ms. Roisen was the recipient of the Project Manager of the Year Award from the Manatron Corporation for the conversion and implementation of new tax administration software. More recently, she was awarded the Government Public Service Award from the Midwest States' Association of Tax Administrators and the Digital Government Achievement Award from the Center for Digital Government.

Ms. Roisen received her Bachelor's and Master's degrees in Economics from Mankato State University and also did graduate studies at St. Thomas University in Minneapolis. She is a licensed Federal General Real Property Appraiser and has a CAE designation. Additionally, she has taught numerous courses to assessors during her career.

Robert J. Gloudemans is a mass appraisal consultant and partner in Almy, Gloudemans, Jacobs & Denne. Bob previously worked for IAAO and the Arizona Department of Revenue. He provides consulting services in mass appraisal modeling, computer-assisted appraisal systems, and ratio studies and has served over 100 clients in the U.S., Canada, and worldwide. He has served three appointments on the IAAO Standards Committee and has contributed extensively to the mass appraisal literature. He is the author of Mass Appraisal of Real Property (IAAO, 1999) and with his partner, Richard Almy, co-author of the IAAO textbook, Fundamentals of Mass Appraisal. Among other projects, he is currently developing a series of four new mass appraisal courses for IAAO, three of which have been completed and comprise part of IAAO’s updated mass appraisal curriculum.

2:45 - 3:00 p.m.

Afternoon Break


3:15-4:00 p.m.

AVMs the World Over: A Comparison of Appraisal Models in International Markets

Paul Bidanset, Ph.D. Candidate, IAAO Research Subcommittee Member, CAMA Modeler Analyst, Norfolk, VA, US and Ulster University/Northern Ireland
Daniel Fasteen, Ph.D., IAAO Research Subcommittee Chairman, CAMA & Systems Manager, Dakota County, MN, US

Geographically weighted regression (GWR) is an AVM technique that has been shown to improve AVM estimates of property value. This paper will add to the existing literature base by executing the industry's most cutting-edge spatial AVM techniques (e.g. geographically weighted regression, spatial lag models, response surface analysis) in international markets (selected from the United Kingdom, South America, Asia, Canada, and the U.S.). All models within this research will be compared by IAAO ratio study standard attainment to help guide taxing agencies the world over in their AVM development efforts.

Attendees will leave this presentation with a better understanding of state-of-the-art AVM methodologies and how to execute them using free software as well as how these AVMs perform with respect to IAAO ratio study standards in various markets. Attendees will also learn how property valuation differs and how it is the same, from an AVM standpoint, across the globe, and what we can learn from this moving forward as a profession.

Paul Bidanset is a Ph.D. real estate candidate at Ulster University’s School of the Built Environment. He is concurrently working with the city of Norfolk, Virginia’s Office of the Real Estate Assessor as their CAMA modeler. His research has been published in several real estate journals and books throughout the world and he has presented internationally on the subject of improving AVMs with geocomputational and other advanced statistical methods. His Ph.D. dissertation on improving AVMs was a recipient of the Lincoln Institute of Land Policy’s 2015 C. Lowell Harriss Dissertation Fellowship. He currently serves on the IAAO Research Subcommittee and as a reviewer for the Journal of Property Tax Assessment & Administration.

Daniel J. Fasteen, Ph.D. is the CAMA and Systems Manager for the Dakota County (Minnesota, USA) Assessor’s Office. Daniel has been in the property valuation profession since 2010 where his interests include automated valuation models (AVM’s), integration of GIS and CAMA technology, as well as technology adoption in the Assessor work environment. Dan has a Master’s degree in Geography and a Ph.D. in Research Methodologies and Applied Statistics, both from the University of North Dakota. Daniel currently serves on the editorial board of the Journal of Property Tax Assessment & Administration and is also the chair of the IAAO Research Subcommittee.

International News: What’s New and Trending?

4:00-4:45 p.m.

Valuation in Spain, Europe and Worldwide – Current Status, Challenges and the Future of the Profession

Leandro S. Escobar-Torres, Secretary General, Professional Association of Valuation Companies of Spain (ATASA), Spain

Leandro S. Escobar-Torre is an economist at the Madrid College and a lawyer at the Madrid Bar Association, an MRICS Registered Valuer, a Recognised European Valuer (REV), a European Financial Advisor (EFA) and a Valuador Panamericano. He has 15 years experience in the valuation of all kinds of assets for several purposes. He serves as the Secretary General of ATASA, which he combines with lecturing and research. 

On behalf of ATASA, he serves as a member of the following bodies: the Advisory Forum Working Group (AFWG) at the IVSC (International Valuation Standards Council); the European Valuation Practice and Methodology Board (EVPMB) within TEGoVA (The European Group of Valuers' Associations); the IPMSC’s (International Property Measurement Standards Coalition) Executive Committee; the Board of the International Ethics Standards Coalition (IESC); the Union of Pan-American Valuers (UPAV); the Forum of Valuation Companies' Associations (ForVal); and the International Association of Assessing Officers (IAAO).

On his own behalf, he is part of the Writing Committee of RICS Insights Paper on the Future Role of the Valuer, the Valuation Professional Group Board of RICS Spain and the Committee for Revision of the Standard in AVMs (Automated Valuation Models), he is also an IAAO member (International Association of Assessing Officers).

In lecturing, he is an associate professor of Financial Mathematics, Statistics and Econometrics at Icade-Comillas, as well as a guest lecturer in Valuation at the Universidad Europea de Madrid, the University of Jaén and Oxford Brookes University.   In addition, he is the author, co-author or coordinator of 15 books related to finance, statistics, valuation and international and European professional standards.
 

Review of 2017 Symposium & Preview of 2018 Symposium in Prague


4:45 p.m.

Closing Remarks


Wednesday, November 1, 2017

9:00-11:30 a.m.

Optional Tour of Local ATASA Office, Details to be Announced


International Research Symposium Partners