Memphis, Tennessee, home sellers and the Shelby County assessor are banding together to slow outside investors that are making home ownership increasingly difficult for Mid-South families. On top of that, Zillow reports year-to-year Memphis home values up 23%. Shelby County resident Susie Lynch wants to change this trend — on her terms.
   “People are struggling and they are trying to plan a future and they don't know what it’s going to be,” Lynch said. When she puts her house on the market soon, there’s one condition: it must go to a local family and not an outside investor. “People that are going to enjoy it and raise their kids in it and be proud to own it,” she said. Read more
   Fundamental economics tells us that home price growth and income growth are interwoven. Neither can outrun the other for very long. That is what’s concerning about the pandemic’s housing boom: Over the past year, home price growth (20.6%) is four times greater than income growth (4.8%).
   That disconnect has more economists flirting with the most hated two words in real estate: housing bubble. Read more
New York’s most generous property tax break could bite the dust
  For those who want to see New York City revive and thrive, the impending demise of the 421a housing-construction abatement, known by its section of state law, may seem like a blow. The annual $1.8 billion property-tax break, the city’s most lucrative, has enabled the construction of thousands of income-restricted “affordable” units.
   The majority of the city’s new residential development since 2013 (and 28% of affordable units) has made use of it. But after 50 years, the subsidy looks to be at the end of the line in Albany. Read more
Code of Ethics changes, new enforcement section 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.
   The online presentation will review the work by the committee, outside legal counsel, and IAAO, and the expected impact on members. Register here
   In 2021, the Ethics Committee completed updates to several parts of the Code of Ethics. The new enforcement section to the IAAO Code of Ethics was developed by the Ethics Committee and reviewed by the Governance Committee and was recently approved by the 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.

June IAAO webinar: Valuation of Solar Farms

   Property Tax Assessment of Solar Farms in Indiana will be the subject of an IAAO webinar in late June. The webinar, from noon-1:30 p.m. Central on Wednesday, June 29, will review how solar energy is a rapidly growing industry with a short history.
   This makes solar property valuation challenging. Solar development also presents challenging considerations for local government officials. With enough information and a goal of fair treatment of solar properties, appraisers and officials can be ready to face these challenges head on. The webinar will be presented by Bradley Berkemeier of the Nexus Group and is eligible for 1 CEU hour. Register here

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 between the Tampa Bay Rays and the Boston Red Sox at historic Fenway Park on Saturday afternoon, Aug. 27. 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. Hotel rooms are available at the nearby 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

Emerging Leaders’ Summit registration deadline is June 30

   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,” that 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. Thanks to DataCloud Solutions, a Woolpert Company, for being the Materials Sponsor for the event. 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 board member and officer positions. Read more

Think land values are high? Minnesota says county should have gone higher

   While taxpayers across Crow Wing County continue to digest an average 35% spike in residential and seasonal property values, the state says the county didn’t go high enough in some cases. Read more
    “If someone is going on holidays and lets out their home for a couple of weeks or lets out their room, that shouldn’t be an issue, but the idea that we have a situation where we have multiples of short terms lets versus long terms in all our major cities is not a sustainable situation,” said Darrah O’Brien, Ireland’s minister for housing, local government, and Heritage of Ireland. Read more
  Pakistan’s Real Estate sector has asked the government to transfer the decision of determination of Property Valuation from federal to provincial governments.
   Pakistan’s Real Estate sector in its budget proposals for the next fiscal year asked the federal finance minister to exclude Section 68(4) of Income Tax Ordinance 2001 immediately besides Property Valuation should only be done by Provincial Govt who are already practicing it and capable of doing it as they already have Field Force Revenue Department. Read more
   A new Tennessee law offers privacy protections for residential property owners. Through the bill, a property owner can request that their county property assessor label them as “unlisted” in online searchable databases. The bill was signed into law by Gov. Bill Lee and will go into effect Jan. 1, 2023. Read more
Opinion: Fritz Kaegi finally fixed Cook County’s broken property tax system
   I’ve never been impressed with any of Illinois’ politicians but Fritz Kaegi, the Cook County Assessor since 2018, is the exception to that rule. He inherited a seriously broken system from former Assessor Joe Berrios and has completely turned it around.
   I believe the end result will be extremely good news for Chicago homeowners who need to note that this guy is on the primary ballot on June 28. Read more
+ Vancouver, Washington
Residential Appraisal Manager, Clark County Assessor's Office See more
+ Chicago
Industrial Commercial Valuations Junior Analyst, Cook County Assessor's Office See more
Manager of Commercial Valuations, Cook County Assessor's Office See more
+ Wauwatosa, Wisconsin
City Assessor, City of Wauwatosa See more
+ Fayettteville, North Carolina
Senior Appraisal Analyst, 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
International Association
of Assessing Officers
314 West 10th Street
Kansas City, Missouri 64105
Share news:
Keith Robison
Don't want these emails?
Unsubscribe here.