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a major risk for the economy
The next big potential risk to the U.S. economy may be
lurking in corporate towers across the country’s downtown districts.
With many people still working from home, companies
are cutting back on so much office space that it threatens to unleash
even more headwinds for the U.S. economy.
An unraveling of the office sector spells trouble not
only for banks that are owed an estimated $1.2 trillion in outstanding
office loan debt, but also for countless small businesses that depend on
white-collar customers as well as cities that benefit from the property
taxes tied to office buildings. Read more
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The bill primarily aims to reduce the amount of
property taxes paid by timeshare owners to city and county governments
by giving the owners the right to determine “fair market” rates
via resales, even if there are only a small handful. Read more
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Cryptocurrency is a digital form of money. “Mining” is
a way to earn currency such as bitcoin by verifying transactions in the
currency that occur on the internet.
The math used to verify the transactions requires
high-performance computing equipment. Those computers are often housed
inside a complex of shipping containers near electrical substations. Read more
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IAAO NEWS
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Conference golf tournament to take place Aug. 27
in Salt Lake City
Registration is underway for the annual IAAO Golf
Tournament, set for Sunday, Aug. 27, in Salt Lake City. The Utah Chapter
of IAAO organized the event at the Eaglewood Golf Course and is
managing registration. Register here.
Fees are $110 per person. Separate packages including transportation and/or golf clubs are also available.
Board election information available; filing deadline is July 1
Members interested in running for the IAAO Board of Directors should submit candidate materials by July 1. Check out the Elections page on the IAAO website 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
May webinar: ‘Eight Mistakes to Avoid on Model Development Process’
IAAO’s May 31 webinar will discuss eight mistakes that
jurisdictions should want to avoid when designing a model development
process.
The webinar will help attendees understand best
practices in how to configure systems for mass appraisal model
development. The webinar, set for noon Central on Wednesday, May 31,
will be presented by Josh Myers and is eligible for 1.5 CEU hours. The
cost is $55 for IAAO members and $77 for nonmembers. Register here
Building high-performing teams the focus
of Emerging Leaders’ Summit
Registration is open for the 2023 Emerging Leaders' Summit,
“Building High-Performing Teams.” The ELS is designed to provide a
powerful professional development opportunity for emerging leaders in
the assessment industry.
The program will be presented in three parts: webinars on
July 18 and Aug. 15, and an in-person session at the IAAO Annual
Conference in Salt Lake City on Aug. 29. Data Cloud Solutions, a
Woolpert Co., will sponsor materials. The third session will be recorded
for those unable to attend. More information is at www.iaao.org/els.
Register for Mass Appraisal Valuation Symposium
Registration is open for the virtual Mass Appraisal
Valuation Symposium, set for June 21-22. The International Property Tax
Institute (IPTI) and IAAO will present the virtual symposium covering
“Valuing Properties in Uncertain Times.” Tyler Technologies is
sponsoring the event.
Registration information is available at www.iaao.org/mavs23.
IAAO offering Workshop 191 as a preconference class
IAAO is offering Workshop 191 on Sunday, Aug. 27, in Salt Lake City, before the start of the IAAO Annual Conference.
The workshop is a National seven-hour USPAP Update offered for
continuing education for licensure and certification through The
Appraisal Foundation. The workshop provides a general overview of USPAP
guidelines, advisory opinions, statements and other appraisal practices.
Conference registration is not required but participants must
register by Aug. 9 for the workshop. The cost is $229 for members and
$339 for nonmembers. The USPAP textbook is included.
| MEMBER CONNECT CORNER
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IAAO Connect members are talking about the best hardware and
multi-stop software for efficiently navigating to a list of properties.
Read more
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AROUND THE INDUSTRY
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Why tax policy experts fear the Texas House plan to lower property taxes could have dire ripple effects
Efforts to minimize taxes for Texas property homeowners
sparked one of many largest fights between state lawmakers this 12
months — however when it’s all stated and carried out, both chamber’s
proposal would save the standard homeowner about the price of a pleasant
dinner date every month.
Nonetheless, the two choices are hardly alike. Read more
Second exposure draft of proposed changes to the Criteria available for comment
The Second Exposure Draft of proposed changes to the Real
Property Appraiser Qualification Criteria is now available for public
comment.
This exposure draft would make fair housing a required
component of an appraiser's qualifying and continuing education. Public
comments are critical to the development of new editions of the
Criteria, and the Appraiser Qualifications Board values all input it
receives.
The Appraiser Qualifications Board is accepting public
comments until June 17th. To read the draft and submit a comment, click here, and the AQB will review your feedback.
Looking to sell your house for cash? Read this first.
Cash home buyers like the “We Buy Ugly Houses” company may
offer a quick and convenient sale to homeowners. Here’s what experts say
you should know about interacting with these companies. Read more
Tamil inscriptions found in India reveal 11th century property tax records
Two fragmented inscriptions, written in Tamil and believed
to be from the 11th century and the 13th century were found from the
ruins of an old Lord Shiva temple at a small village in the Tirupati
district of India.
An incomplete and fragmented inscription, it is a record of
a gift of land for a koneri (a square pond with steps from all the
sides). Read more
Delaware House passes bill to require property tax reassessments every five years
It took a lawsuit by public education advocates in 2020 for
all three of Delaware’s counties to conduct property tax reassessments
for the first time in decades.
Now state lawmakers are considering whether to require them at regular intervals.
State Rep. Madinah Wilson-Anton’s bill would require each county to
reassess property values every five years, starting the clock when the
current reassessments end. Read more
Thanks to TABOR, some Colorado counties won't reap benefits of historic property values
Property values across the state have skyrocketed,
prompting counties and municipalities that aren’t restricted by
Colorado’s Taxpayer Bill of Rights to lick their chops at the prospect
of collecting more taxes this year.
But what about the places that aren't exempt from TABOR? Read more
Appraisal Standards Board adopts new edition
of USPAP, effective Jan. 1
The Appraisal Standards Board voted to adopt the Fifth
Exposure Draft of proposed changes to the Uniform Standards of
Professional Appraisal Practice (USPAP). The new edition will be
available this fall and will become effective on Jan. 1, 2024. Unlike
previous editions, it will not have an end date.
All exposure drafts are developed by the Appraisal
Standards Board and released for public comment. Successive exposure
drafts are updated and released based on public comments on previous
drafts. Read more
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Kansas City, Missouri
• Director of Accounting and Finance, IAAO See more
Paola, Kansas
• County Appraiser, Miami County See more
Nashville, Tennessee
• Commercial Appeals Appraiser, Metro Govt of Nashville and Davidson County See more
Orlando, Florida
• Deputy Property Appraiser, Orange County See more
Richmond, Virginia
• Property Tax Director, The Commonwealth of Virginia Dept of Taxation See more
San Antonio, Texas
• Chief Appraiser, Bexar Appraisal District See more
Columbus, Ohio
• Deputy Appraisal Director, Franklin County Auditor'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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Keith Robison
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