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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
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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
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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 |
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IAAO NEWS
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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
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IAAO CONNECT CORNER
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IAAO Connect members are talking about market sales following wildfires. Read more
| AROUND THE INDUSTRY
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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
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+ 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 moreValuation Appraiser, Brevard County Property Appraiser 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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Keith Robison
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