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‘The Untouchables’: How Columbia and NYU
benefit from property tax breaks
As Columbia University puts the last touches on its brand-new campus in
Harlem, it has reached a milestone: The university is now the largest
private landowner in New York City. In a city where land is more
valuable than almost anywhere in the nation, the school now owns more
than 320 properties, with a combined value of nearly $4 billion. The
growth has helped it stay competitive within the Ivy League and meet its
broader ambitions to become a global institution. By
many measures, those ambitions have also helped lift the city around it,
attracting higher numbers of students, producing new jobs, and boosting
New York’s reputation as an international center of knowledge.
But as Columbia has expanded its footprint, it has also become more of a
drain on the city budget because of a state law more than 200 years old
that allows universities, museums and other nonprofits to pay almost no
property taxes. Read more |
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The U.S. housing market is set to cool this fall
The U.S. housing market is starting to cool down, and that
could usher in a good opportunity for homebuyers as prices get slashed,
according to Zillow.
Though the housing market typically cools off during the
fall months, more home are seeing price cuts this year than they have in
the past, the real estate listings site said in a note on recently.
Zillow economists, meanwhile, previously forecast home
price increases through the first half of 2024 despite the current
cooldown. Home prices could jump as much as 5% by August 2024, the
firm's research team said. Read more
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Owners turn to buying houseboats to avoid Connecticut’s property tax
How does living on the water sound? That’s becoming a
viable option for many who want to avoid paying a property tax in
Connecticut where houseboats are becoming a growing trend.
It may sound expensive, but it might save money in the long
run when it comes to taxes. Houseboats are property tax free in
Connecticut. Owners do have to pay taxes for their slip at the marina,
but for many it’s still worth it. Read more
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IAAO NEWS
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Register now for 2023 Legal Seminar
Registration is underway for the 2023 IAAO Legal
Seminar, set for Nov. 30-Dec. 1, at the Omni Louisville Hotel in
Louisville, Kentucky.
Attendees will hear from industry experts on legal topics
of interest to members of the assessment and property tax industry. The
theme for the seminar is “Assessing the New Norm.”
You can register online or submit a paper form with
payment. Continuing legal education credits (CLEs) will be available and
IAAO will seek approval for continuing legal education credits for
states requested by Oct. 1. Read more.
Server upgrade to take IAAO website offline Oct. 9
The IAAO website and access to online educational
components may be limited on Monday, Oct. 9 as part of upgrades to the
IAAO servers. The upgrade is expected to start by 9 a.m. Central and is
expected to be completed by early afternoon.
Oct. 13 is deadline to apply to volunteer in 2024
IAAO is now accepting applications from members to serve on
committees and task forces in 2024 and those interested in volunteering
should visit the IAAO Volunteer page to apply. The deadline to apply is
October 13.
IAAO has seven standing committees (Education, Ethics,
Governance, Nominating, Professional Development, and Research and
Standards) and more than 25 task forces. Members can apply for
multiple committee opportunities and for the Open Call to improve their
chances of being selected to serve. IAAO usually receives more
applications than there are volunteer opportunities but encourages all
interested members to apply. Current 2023 volunteers interested in
continuing to serve in 2024 must re-apply. Apply here.
Dues renewals underway; pay online or return email invoice
IAAO membership renewals for 2024 are underway and members can now pay online
or use the invoice that will be emailed next week to members whose dues
are not billed to their firm. The deadline for renewal is Dec. 31.
October webinar: How to protect your organizations’ data
The cyber incident response team for the El Paso Central
Appraisal District in Texas will present a guide addressing standards
and insights on how to obtain the security needed to protect your
organization's data during the October IAAO webinar.
The webinar, set for noon Central on Wednesday, Oct. 25,
will be presented by Rodolfo Arvizo and David Martinez and is eligible
for 1.5 CEU hours. The cost is $55 for IAAO members and $77 for
nonmembers. Register here.
Fighting cybercrime is the topic of November business partner webinar
Fighting Back Against Cybercrime will be the subject of a
webinar by IAAO business partner Tyler Technologies on Wednesday, Nov. 8
at noon Central. The webinar will review how sophisticated
cyberattacks targeted at state, local, and federal government
organizations and school districts place all concerned parties on high
alert.
In this webinar, hear from cybersecurity expert Tim Walsh,
who will discuss how agencies can approach the way they think about
cybersecurity – from innovative and strategic resource usage to
effective application, detection, and response mechanisms to ensure the
security of data and high valued assets. Register here.
Hear about Farragut’s property tax solutions during Nov. 9 webinar
Find out how to harness the full potential of your office
and data with Farragut's suite of tailored property tax solutions by
attending a webinar by IAAO Strategic Business Partner Farragut. From
their business intelligence solution to CAMA solution to billing and
collections, come experience how to empower your team to extract
valuable insights, streamline operations, and make confident data-driven
decisions.
The webinar, Unleash the Power of Tailored Solutions:
Maximize Your Office and Data Potential, will be offered at 1 p.m.
Eastern on Thursday, Nov. 9. Register here
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IAAO Connect members are talking about the release of
the Vertical Equity App developed by the Lincoln Institute of Land
Policy in partnership with the Center for Appraisal Research and
Technology. Read more
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AROUND THE INDUSTRY
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2024 USPAP now available to buy
The 2024 Uniform Standards of Professional Appraisal
Practice is now available for purchase in physical and digital formats.
This year, for the first time, you can buy just the
book of USPAP standards for $35. This covers all Definitions, Rules, and
Standards.
Also new this year: The Appraisal Foundation is offering All
Advisory Opinions, Frequently Asked Questions, and the recently launched
Reference Manual as part of a standalone publication called the 2024
USPAP Guidance and Reference Manual. Go to the TAF online store or call 800-348-2831 to order.
Telecommunications companies sue Napa County for more than $1.1 million in property tax refunds
Five telecommunication companies are suing Napa County over
property taxes they say were collected in violation of the California
Constitution. The companies — Pacific Bell, AT&T, Sprint Spectrum,
T-Mobile, and CenturyLink — seek combined tax refunds of more than $1.1
million. Read more
U.S. counties with the highest housing costs
A new report by real estate data company Attom reveals that
housing prices in 99% of U.S. counties are more unaffordable than ever
for the average American earner. Despite high mortgage rates imposed by
the Federal Reserve, U.S. housing market prices have remained high,
further straining buyer affordability. Read more
Mecklenburg County doing four-year property revaluations cycles from now on
Property revaluations will occur in Mecklenburg County
every four years moving forward, following a unanimous vote this week.
The 2023 revaluation came on a four-year cycle but resulted
from a one-off resolution approved in October 2019. It was previously
on an eight-year cycle, which is the state minimum. The Board of County
Commissioners would have to vote to change the cycle in the future. Read more
Wyoming homeowners speak in favor of a new property tax system, lawmakers move to draft new bill
Members of the Joint Revenue Committee moved to draft
legislation that would amend the state constitution and implement an
acquisition value property tax system in Wyoming.
An acquisition value property tax system assesses a
property at its market value from the time the property was purchased,
with limited annual tax increases until the property is resold,
according to the Lincoln Institute of Land Policy. Acquisition value is
defined under HB 100 as “the purchase price paid for the acquisition of
property.”
Homeowners and lawmakers, however, expressed differences in opinion regarding favor of the new property tax system.
Representatives from TEAM Consulting LLC, a company hired
to conduct a study under the direction of HB 100, presented the legal
processes Wyoming would need to undertake in order to implement an
acquisition value property tax system. Read more
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Savannah, Georgia
• Chief Appraiser, Chatham County Government See more
Marietta, Georgia
• GIS Manager, Cobb County Board of Tax Assessors See more
Eau Claire, Wisconsin
• City Assessor, City of Eau Claire See more
San Diego, California
• Appraiser II, County of San Diego-Assessor/Recorder/County Clerk See more
West Hartford, Connecticut
• Property Appraiser 3 - Residential, Town of West Hartford See more
McKinney, Texas
• Commercial Property Specialist, True Prodigy See more
Gastonia, North Carolina
• Property Appraisal II (REAL), Gaston County Government See more
Chicago
• Assessment Intervention Analyst, Cook County Assessor's Office See more
Durham, North Carolina
Palmer, Alaska
• Borough Assessor, Matanuska-Susitna Borough See more
Greenwich, Connecticut
• Commercial Real Estate Appraiser, Town of Greenwich See more
Kissimmee, Florida
• Commercial Appraiser, Osceola County Property Appraiser's Office See more
Sandpoint, Idaho
• Residential Appraiser I, Bonner County Assessor'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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