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
Proposed Florida timeshare valuation bill would give large tax breaks to Disney, others
   A Florida bill sponsored by Representative Randy Fine, R-Palm Bay, would redefine the way timeshare properties are valued in the state, consequently allowing the potential for massive tax breaks to companies such as Walt Disney World, Hilton Grand Vacations, Marriott Vacations Worldwide, Westgate Resorts, etc.
   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
Tennessee property assessor eyeing crypto mining values
   Cumberland County (Tennessee) Property Assessor Sandy Gilbert expects personal property assessments on two cryptocurrency mining operations to add several million to the county’s tax rolls next year.
   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
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.
Hot topic: Navigation software and hardware
  IAAO Connect members are talking about the best hardware and multi-stop software for efficiently navigating to a list of properties. Read more
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
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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Kansas City, Missouri 64105
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