The number of Airbnb properties in County Mayo is contributing to the worsening housing crisis. Last week, there were 18 houses for long-term rent in the whole of Mayo on a local property website, while there are 251 properties listed on Airbnb in Westport alone.
   While he does not blame landlords for going the Airbnb route, Westport-based Councillor Peter Flynn says it is a major problem.
   “The average household is about three-and-a-half people per house, so you’re talking about the best part of 1,000 people in Westport that should be long-term lets but are in short-term with Airbnb.
   “The big problem is the tax and utility systems that we operate for long-term letting. If you own a house or apartment, from a financial point of view, the smart option is Airbnb because you make good money, and it’s taxed at a normal source of income. Whereas if you go long-term letting, it’s taxed at the high tax rate automatically and a lot of expenses are not tax-deductible. So the system is completely twisted.” Read more
  Gov. Jared Polis signed a group of bills into law aimed at saving people money on various fees and taxes, a goal the governor has been adamant about in his reelection effort. The largest measure inked on Monday is a $700 million cut to property taxes over two years in an effort to reduce how much homeowners owe as property values soar. It reduces the taxable value of homes by $15,000 and the value of some commercial properties by $30,000 and lowers assessment rates. Read more
   The Missouri State Tax Commission sided with the City of St. Louis’ Board of Equalization in a ruling against Ikea’s request to lower its property taxes, but it still received a $13 million tax reduction. The city found the true value in money of Ikea’s 20-acre site with its 376,538 square-foot building to be $75.7 million on Jan. 1, 2019. Ikea claimed the value was $23.4 million. Read more
IAAO Code of Ethics focus of June 15 webinar
   Changes to the IAAO Code of Ethics and a new enforcement section will be the topic of an IAAO webinar from 11 to 11:30 a.m. Central, June 15, presented by President Wade Patterson and Ethics Committee Chair Bruce Woodzell. In 2021, the Ethics Committee completed updates to several parts of the Code of Ethics and in 2022 completed a new enforcement section, currently under 30-day exposure.
   The webinar will review the work by the committee, outside legal counsel, and IAAO, and the impact on members. Register here
   The proposed enforcement section to the IAAO Code of Ethics was developed by the Ethics Committee and reviewed by the Governance Committee and Board of Directors. The enforcement section outlines the process to file a complaint, the alleged violation evaluation process, potential sanctions, publication of sanctions, and the appeals and reinstatement process.
   Comments on the Code of Ethics enforcement section should be sent to Executive Administrator Mindy Murphy-Watson at watson@iaao.org. The comment period will run to May 25, 2022. The proposed enforcement section is also available on the Exposure Drafts page. Read more

Register for the 2022 Annual Conference

  Conference registration and hotel reservations for the 2022 IAAO Annual Conference, Aug. 28-31 in Boston, are now available. The IAAO Annual Conference is the premier platform to share successes, discover best practices, and learn the latest research in the field of property appraisal. Attendees can register online for the in-person and virtual component or download a paper registration form. Vision Government Solutions is the registration sponsor. Register here
   Also, the IAAO Local Host Task Force has a group of tickets for a baseball game at historic Fenway Park in Boston on Saturday afternoon, Aug. 27, between the Tampa Bay Rays and the Boston Red Sox.
   To register for the IAAO golf tournament or to buy baseball tickets, go to the Massachusetts IAAO chapter website at ma-iaao.org.
   The Annual Conference will take place at the Hynes Convention Center in Boston and hotel rooms are available at the nearby Sheraton Boston and Marriott Copley Place. In-person attendees can earn up to 12.5 credit hours from the main conference and eight additional hours from pre-conference workshops. Virtual attendees will have 11.5 preselected credit hours available via the livestream. Read more

Learn about reappraisals from experts in webinar

   The May IAAO webinar will review “What We Know Now...a Reappraisal Story” at noon Central, Thursday, May 26, for a panel discussion with IAAO members from multiple jurisdictions who will share their reappraisal stories. Learn from those who have recently been through the reappraisal process and hear what they know now and what they wish they knew before undertaking the project. If you are interested in hearing about the experiences from your fellow assessors, we ask you to join us. CEU hours are not available for this webinar. Register here
Register for Emerging Leaders’ Summit
  Registration is open for the 2022 Emerging Leaders’ Summit and this year’s theme is “Leading Multigenerations.” The Emerging Leaders’ Summit is designed for early to mid-career managers who want to advance within the assessment profession and to grow as leaders.
   The program will be presented in three parts: two webinars (scheduled for July 28 and Aug. 10) and a third session, “Mind the Gap! How to Navigate Intergenerational Communication Gaps in the Workplace,” will take place on Aug. 31 at the IAAO Annual Conference in Boston. The final session at conference will be recorded for those unable to attend. Fees for the Emerging Leaders’ Summit are $295 for IAAO members and $395 for non-members and registration is open through June 30. Read more

Mass appraisal topic of June online symposium

  Registration is open for the online symposium on Mass Appraisal Valuation, presented by IAAO and the International Property Tax Institute. The virtual symposium, “Applications and Challenges,” will take place on June 22-23. Programming is focused on appraisal, valuation and assessment practitioners, valuation/assessment agency managers, municipal representatives, policymakers, technology professionals, academics, and educators interested in sharing experiences and knowledge relative to property tax policy and valuations, including innovations, theory, application, management, and practices. More information on the symposium and registration is available online. Read more
Election info submission deadline approaching
  Members interested in running for the IAAO Board of Directors should submit candidate materials by July 1. Check out the Elections page  for more information and forms needed to submit. Regular members in good standing will be able to vote electronically from Nov. 1-15 for the Regular Board Member and Officer positions. Read more
Hot topic: Responding to wildfires
   IAAO Connect members are talking about market sales following wildfires. Read more

L.A. County property market soars by $100 billion

   Property values in Los Angeles County are projected to rise by a record $100 billion this year, providing a boon to municipal coffers on the back of a hot housing market. The amount translates to $1.86 trillion in net value for taxable properties in the county, a 6% increase from 2021, according to a May forecast of the county’s assessment roll, which is used to plan local budgets. Read more

Study: Many U.S. homeowners pay more than their fair share of property taxes

   Ownwell, a property-based startup, recently announced a study highlighting data that indicates a significant disparity in effective tax rates among higher- and lower-assessed value properties. The research found a striking difference in the effective tax rate between the top and bottom percentiles in nearly every state. Across the nation, properties in the top 5% of market value have an effective property tax rate of 1.23%, while the lowest-valued 25% of real estate have an effective tax rate of 1.95%. When these tax rate disparities are translated into real-world numbers, lower-assessed value homes — and their respective homeowners across the United States — pay 58% more as a percentage of total real estate value than the highest-value homes. Read more

Philadelphia City Council considering measures to ease impact of new property assessments

   Philadelphia City Council is weighing a trio of bills designed to offset the financial burden newly released property assessments are expected to put on thousands of homeowners in the form of increased property taxes. Read more

Kansas Supreme Court to hear ‘dark store’ case — with millions in tax dollars on the line

   A decision that could mean the difference in millions of dollars of tax revenue to Johnson County, its cities, and schools looms ahead as the Kansas Supreme Court prepares to hear a “dark store” case. The Kansas state Board of Tax Appeals ruled the county’s taxing method meant the Walmart stores overpaid by $60 million. That ruling was upheld later by the state Court of Appeals. The state supreme court will now consider the finer legal points of both arguments. Read more

Freddie Mac releases feedback on its 2021 racial, ethnic valuation gaps report

   This Research Note builds on our previous Note published in September 2021 to report on a refined and expanded modeling approach that Freddie Mac adopted in the racial valuation gap context.
   Our first Note analyzed tract averages as little research existed on this important topic and we wanted to spark a discussion and receive feedback on our approach leading to subsequent work. This note reflects much of the feedback we have received. Specifically, we adopt a modeling approach to study whether properties in predominantly minority (Black and Latino) census tracts are more likely than properties in predominantly White census tracts to receive an appraisal value that is lower than the contract price when homes are appraised for the purpose of obtaining a home loan (home purchase appraisals). Read more
+ Fayetteville, North Carolina
Senior Appraisal Specialist, Cumberland County Tax Administration See more
+ Fort Collins, Colorado
Appraiser I, Larimer County Assessor See more
+ Bend, Oregon
Applications System Analyst II or III, Deschutes County See more
+ Pittsburgh, Pennsylvania
Chief Assessment Officer, Allegheny County See more
+ Chicago
Manager of Commercial Valuations, Cook County Assessor's Office See more
+ Littleton, Colorado
Commercial Appraiser II/III, Arapahoe County See more
+ Chicago
Commercial Appraiser, Urban Real Estate Research Inc. See more
+ New York City
Appraiser, Assessor, or Valuation Expert, Lawrence J. Berger PC See more
+ Bellevue, Washington
Manager, Property Tax Consulting, Ryan LLC See more
+ Orlando, Florida
Senior Director, Valuations, Orange County  Property Appraiser See more
+ Titusville, Florida
GIS Cadastral Mapper, Brevard County Property Appraiser See more
Valuation Appraiser, Brevard County Property Appraiser See more
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Keith Robison
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