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The
pandemic housing boom unleashed an “investor mania” unlike anything
seen in the U.S. housing market since the aughts housing bubble. Average
Joes poured into the market in hopes of building Airbnb empires.
Institutional investors, like Blackstone-owned Home Partners of
America, quickly expanded their single-family home portfolios.
Fast-forward to October, and that investor mania has been replaced by
investor panic.
Read more
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Blaine County
Assessor Jim Williams says the assessed property values continued to
skyrocket in response to a steady demand for housing from a massive
influx of new, out-of-state residents who left their home states at the
beginning of the COVID-19 pandemic.
But the result has led to a housing shortage. Read more
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Loudoun County, Virginia’s
airport impact district has three tiers based on the average level of
jet noise, and in the highest-noise areas, county policy forbids
residential development.
In the middle tier, prospective homebuyers must be notified of the
airport noise and homes must be built with acoustic treatments to lessen
the noise inside. In the lowest tier, a one-mile buffer around the
other two, only the notification to homebuyers is required. Read more
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IAAO NEWS
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IAAO elections underway; voting ends Nov. 15
IAAO Board of Director elections are underway and end on Nov. 15.
Regular Members should have recently received an email from Intelliscan
Inc. on Nov. 1. Regular members who did not receive a ballot by
Wednesday, Nov. 2, should contact John Arbitell at johnarbitell@intelliscaninc.com or call 610-935-6176. Candidate information is available at www.iaao.org/candidates.
The IAAO Nominating Committee certified the list of
candidate this summer and Donna VanderVries, CAE, AAS, PPS, was added
after being certified in early September following submission of a
petition.
President-Elect - Rebecca Malmquist, CAE
Vice President - Tina Stone, PPS, AAS; and Donna VanderVries, CAE, AAS, PPS, by petition
Region 1 - Alvin Lankford, CAE, AAS
Region 2 - Roderick Conley, AAS, RES; and Lloyd Funk, CAE
Region 3 - Dwane Brinson, CAE, RES, AAS; and Stuart Topliff
IAAO President Wade Patterson and Executive Director Debra McGuire,
MBA, IOM, CAE, attended the TEGOVA General Assembly in Athens, Greece,
in October.  Increasing
reliance on renewable energy and how to value these new sources were
key elements Patterson addressed in his “Green Revolution” presentation.
His focus was on the growth of wind farms, valuation methodologies, and
the importance of collaboration between the assessing authority and the
industry.
Also at the conference, Lisa Hobart, CAE, PPS, FIAAO, ASA, was
recognized for significant contributions to the European Plant,
Machinery & Equipment Valuation Standards blue book. Hobart was
awarded the new REV-PME Designation (Recognized European Valuer – Plant
Machinery Equipment), which the TEGOVA Board granted to her for life.
GIS/Val Tech Conference April 3-6 in Las Vegas; session proposals accepted through Dec. 9
The GIS/Valuation Technologies Conference, sponsored by URISA and IAAO,
will take place April 3-6, 2023, in Las Vegas. Proposals for workshops,
presentations, and keynote are being accepted through Friday, Dec. 9,
2022. Additional program details and conference registration information
will be announced in December. Conference workshops are scheduled on
Monday, April 3, and programs start on Tuesday. The Exhibit Hall will be
open Tuesday and Wednesday, and the meeting closes at noon on Thursday,
April 6.
IAAO membership renewals for 2023 are underway and members can now pay online
or use the invoice recently emailed to members whose dues are not
billed to their firm. Membership dues increased by $15 for regular and
associate members for 2023. The deadline for renewal is Dec. 31.
The IAAO Board of Directors approved the increase in July, citing
rising costs associated with the continued delivery of high-quality
benefits for members.
Alabama Chapter to hold inaugural conference
Registration
is underway for the inaugural conference of the Alabama Chapter of
IAAO. The conference is set for Jan. 11-13 at The Grand Hotel in Point
Clear, Alabama. The chapter was formed and joined IAAO in 2019.
Registration is open and the registration form is available on the
Alabama Chapter website at www.alabamaiaao.org/events.
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AROUND THE INDUSTRY
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Academics launch study on effect of digitalization, tech billions on real estate
$3.9 trillion. That is the amount of money — equal to
almost a fifth of the country’s gross domestic product — that Americans
spent on housing in 2021. That enormous figure is first, and most
importantly, a powerful way to understand just how fundamental housing
is to the country. But another dollar figure is drawing even more
attention, illustrating how technology is about to upend the
traditionally discrete, local real estate industry, as more outsiders
are noticing this enormous potential value inherent in housing. Read more
Fed hikes interest rates again. Will inflation now slow down?
The
Federal Reserve plowed ahead with a fourth straight historically large
interest rate hike Wednesday -- an increase of 0.75 percentage point --
in an effort to beat back soaring inflation.
But as the Fed’s monthslong campaign increasingly
risks a recession next year, the main question now is, will it dial back
the rate hikes in December or wait until inflation shows clear signs of
abating? Read more
Report: Property tax rate balance tilting further against commercial properties
The
gap between commercial and residential property tax rates in Canada is
growing, according to a joint study from Altus Group and the Real
Property Association of Canada. The 2022 Canadian Property Tax Rate
Benchmark Report found that seven out of the 11 major cities surveyed
have a commercial tax rate that is more than double the residential tax
rate. Read more
Allegheny County assessment appeal hearings halted over court litigation
The
board that oversees Allegheny County assessment appeals has stopped
scheduling hearings this year in the wake of litigation over the number
that will be used to determine the value at which a property will be
taxed.
Members of the board of property assessment appeals and
review won’t schedule hearings on cases that have yet to be heard until
the courts decide what common level ratio should be used in those
proceedings, solicitor David Montgomery said Monday. Read more
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+ Sarasota, Florida
Commercial Appraiser, Sarasota County Property Appraiser See more
+ Manhattan, Kansas
Appraiser III - Residential, Riley County See more
+ Wausau, Wisconsin
Deputy City Assessor, City of Wausau See more
+ McKinney, Texas
Litigation Specialist, Collin Central Appraisal District See more
+ Kansas City, Missouri
Assessor Analyst (Technology), IAAO See more
+ Vancouver, Washington
Residential Appraiser (Real Property Appraiser I, II, or III), Clark County See more
+ Concord, New Hampshire
+ Calgary, Alberta, Canada
Leader, Valuation, City of Calgary See more
+ Kissimmee, Florida
Commercial Appraiser, Osceola County Property Appraiser's Office See more
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International Association
of Assessing Officers
314 West 10th Street
Kansas City, Missouri 64105
816-701-8100
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Share news:
Keith Robison
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