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Other cities take note as New York City tells Airbnb: Fuhgeddaboudit
For years, it has been illegal for homes in New York City
to be rented out for fewer than 30 days, but the ordinance was rarely
enforced. And many property owners earned money through the rise of
short-term rentals.
But this fall the city began enforcing a new ordinance that
requires short-term rental hosts to register with the city. The
ordinance also ices out market juggernauts Airbnb, Vrbo, and similar
platforms from processing transactions for any unregistered short-term
rentals.
The aim of the crackdown is to return thousands of possible
rental units to the city’s housing market, which is short on available
and affordable options. Read more
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The looming office space real estate shortage.
Yes, shortage
There is more pain to come in the office real estate market
across the U.S., with maturing debt needing to be refinanced and a wave
of expiring leases, but there is also what may seem at first brush to
be a counter-intuitive message being sent to top tier companies by real
estate intelligence company CoStar Group: prepare for an office space
shortage.
You read that right: while the commercial real estate
market across U.S. downtowns is being described in apocalyptic terms,
CoStar sees a shortage on the horizon, with one key caveat for top
companies to bear in mind. Read more
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Realtors study shows Boomers in best position in current, and projected, real estate market
With their $82 trillion nest egg, baby boomers have helped
the US economy with their spending. They’re also in the perfect position
to help themselves by taking advantage of the current real estate
market.
According to a new report from the National Association of
Realtors, older Americans are making up a larger portion of home buyers
and are in a better position to buy a home in the current market. And
with signs that prices could start falling, buying real estate now puts
them in a perfect place to build even more wealth the next time prices
rise. Read more
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IAAO NEWS
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Deadline approaching for comments on Mass Appraisal Standard changes
The comment period regarding changes to the Standard on Mass Appraisal of Real Property concludes on Dec. 13.
This standard replaces the 2018 rewrite of the standard,
which replaced the 2013 Standard on Mass Appraisal of Real Property.
The Research & Standards Committee updated the section
on “Alternative to Periodic Site Inspections” with a section on
“Considerations for Establishing a Property Inspection Plan.”
The update also included changing references to CAMAs to
mass appraisal systems. A clean version and a copy with markups are available for review.
Comments on the standard should be sent to IAAO Assessment Advisor Shannon Hiss, RES, RMA, at hiss@iaao.org. The comment period runs from Nov. 14 to Dec. 13, 2023.
IAAO accepting applications for executive director through Dec. 14
IAAO is accepting
applications through Dec. 14 as part of its search for a new executive
director. The job description is posted online,
and the selected individual will be responsible for ensuring the
successful execution of the organization’s overall strategic plan while
overseeing and managing all facets of the association.
The executive director will work closely and transparently
with the Board of Directors to formulate strategies and translate them
into actionable strategies aimed at fostering growth.
The position closes on
Dec. 14, 2023, and candidates will be notified shortly thereafter
regarding the status of their application.
Interested in a CMS or PPS designation? Attend the Dec. 14 Zoom chat
Professional Development
Committee members are offering Zoom chats on the second Thursday of
every other month to answer questions and share experiences about
earning a designation.
The next chat is Thursday, Dec. 14, and will be a
discussion on earning the Personal Property Specialist (PPS) or
Cadastral Mapping Specialist (CMS) designation.
Current CMS and PPS designees will be available to answer your questions. There is no charge, and you can register here.
You can also watch recordings
of previous chats, focused on earning a designation in general, earning
the Certified Assessment Evaluator (CAE) or Residential Evaluation
Specialist (RES) designation; or earning the Assessment Administration
Specialist (AAS) or Mass Appraisal Specialist (MAS) designation.
Using AI in property assessment workflows subject of Jan. 11 Nearmap webinar
The application of Artificial Intelligence (AI) for change
detection has revolutionized property assessment, enabling assessors to
efficiently identify changes in the built environment will be the focus
of a Jan. 11 webinar by Nearmap.
The webinar will review how with AI and up-to-date imagery,
you can create solutions that save time, money and resources that help
your team identify and manage changes. With solutions such as change
detection you can create repeatable processes and workflows that
enlighten and expand the possibilities of your department.
The webinar, “Leveraging AI for Change Detection and
Machine Learning in Property Assessment Workflows,” will be offered by
Nearmap an IAAO Strategic Partner at 10 a.m. Central on Thursday,
Jan. 11. Register here.
New issue of the Journal released
Volume 20, Issue 2 of the Journal of Property Tax Assessment & Administration is now available to IAAO members to download and read.
Articles in this issue cover homestead fraud in Florida;
nonprofit hospitals’ property tax benefits; enterprise value to invested
capital; aircraft opportunity costs and airline intangible returns;
transitioning out of capped property assessments; climate change and
property assessment practices; and a review of vertical equity measures
in property assessments by the IAAO Statistical Tools and Measures Task
Force.
Past issues of the Journal are available through Research Exchange.
Registration opens soon for GIS/Val Tech
Registration will open soon for the 2024 GIS/Valuation
Technologies Conference, April 8-11 at the Le Meridien/Sheraton
Charlotte Hotel in Charlotte, North Carolina. Early bird registration
will continue through Feb. 12.
Additional workshops have been set up this year and the
optional pre- and post-conference workshops will provide deep dives into
many important topics.
The GIS/Valuation Technologies Conference for professionals
in property assessment, tax administration, mapping, and information
technology has been the favorite annual event for assessors and GIS
professionals who use technology to make property assessment and tax
administration more accurate and efficient for a quarter of a century.
Enhancing assessment operations and recovering revenues topic of Tyler Jan. 17 webinar
Tyler Technologies is
offering a webinar on Wednesday, Jan. 17, to explore the current
industry landscape and note specific examples of how clients are relying
on Tyler solutions and services to enhance the functions of their
assessment offices and recover revenues to support constituents.
The webinar, “How to Enhance Assessment Operations and
Recover Revenues,” will be offered by Tyler, an IAAO Strategic Partner,
from noon to 1 p.m. Central. Register here.
For questions or information regarding strategic partnerships, please contact Leann Ritter at ritter@iaao.org.
Eagleview to host Jan. 31 webinar on uncovering lost revenue and boosting accuracy
Take a deep dive into
the significance of sketch verification for property assessors during a
webinar by Eagleview on Wednesday, Jan. 31.
By integrating sketch
verification into regular assessment practices, assessors can recapture
missed tax dollars and streamline their review processes, ensuring no
change goes unnoticed. Sign up to explore how staying proactive with
sketch verification can seal the cracks, bolstering both efficiency and
revenue for local governments.
The webinar, “Sketch Verification: The Key to
Uncovering Lost Revenue and Boosting Assessment Accuracy,” will be
offered by Eagleview an IAAO Strategic Partner from noon-1 p.m. Central
on Wednesday, Jan. 31. Register here.
| _2685675.jpg) | MEMBER CONNECT CORNER
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IAAO Connect members are talking about the best ways to value houses made from storage containers. Read more
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AROUND THE INDUSTRY
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Owners of just 3,000 properties liable for Ireland’s new vacant property tax
Owners of only 3,000 properties will have to pay the new
Vacant Homes Tax, according to new figures from the Department of
Finance.
The tax was aimed at driving underused and vacant
properties into the housing market to be available for sale or rent but
the tiny number of homes liable for the levy suggests it is unlikely to
have a significant impact on supply. Read more
Detroit mayor touts economists’ poll backing proposed Land Value Tax; critics unconvinced
Detroit Mayor Mike Duggan is touting the proposed Land
Value Tax plan once again, pointing to national economists who support
the plan.
The University of Chicago’s Kent A. Clark Center for
Global Markets conducted a poll of national economists weighing the
plan’s viability. Of the 31 respondents who addressed the question of
viability, 83% agreed or strongly agreed that it would substantially
boost economic growth and development over the next 10 years. Read more
Unaccredited Florida university should pay taxes
on $1.6 million home, magistrate rules
Rep. Carolina Amesty’s family-run university should not be
exempt from paying property taxes on the $1.6 million house it owns
because it is used as a private residence and is not “an integral part
of the educational institution,” according to a special magistrate
ruling released Tuesday.
Central Christian University, where the Republican
lawmaker serves as vice president, argued it should not pay 2023
property taxes on the five-bedroom pool home, because its president,
Amesty’s father, resides there and uses it for some university business.
The house sits in an upscale golf community that isn’t
accessible to visitors unless they show a pass to a guard at its
entrance. It’s about 15 miles from Central Christian’s campus. Read more
Singapore offers one-time rebate up to 100% for homeowners to cushion higher property taxes
A one-off property tax rebate for owner-occupied homes,
ranging from 100% for the smallest public flats to 15% for private
properties, will be given next year to offset the expected rise in
property taxes. Read more
U.S. Rep proposes Stop Wall Street Landlords Act
to address housing market concerns
U.S. Rep. Ro Khanna of California on Tuesday voiced his
apprehensions regarding the financialization of the housing market by
Wall Street and the impact of institutional investors on the ability of
individuals to own houses.
In his recent post on X (formerly Twitter), Khanna
highlighted a newly launched single-family residential fund by Arrived, a
real estate investment platform supported by Amazon founder Jeff Bezos.
To address these concerns, Khanna called for the passage of his
proposed Stop Wall Street Landlords Act. Read more
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Colonial Heights, Virginia
• City Assessor, City of Colonial Heights See more
Fort Collins, Colorado
• CAMA Modeler, Larimer County Assessor See more
Deland, Florida
• Commercial Property Analyst, Volusia County Property Appraiser See more
Manhattan, Kansas
• Appraiser III, II, I-Residential D.O.E., Riley County See more
Eau Claire, Wisconsin
• City Assessor, City of Eau Claire See more
Paola, Kansas
• Field Appraiser III, Miami County See more
Kansas City, Missouri
• Executive Director, International Association of Assessing Officers See more
Kissimmee, Florida
• Commercial Appraiser, Osceola County Property Appraiser's Office See more• Residential Field Appraiser, Osceola County Property Appraiser'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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