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Whose 'essential' is it? Different rules for box stores and local retailers >
April Cabral, owner of Sundance Clothing of Chatham and Sandwich in
Cape Cod, Massachusetts, said she plans to open her store Friday and
put 80 percent of her merchandise in a tent near the curb. “I’m not
allowed to open. I’m opening. I’m not breaking the rules since the
terminology is such a loosely defined phrase. I am just as essential as
Walmart,” she said. Cabral said she began thinking about this after
recently venturing out for the first time in weeks when she went to the
nearby Walmart and saw the store was selling women’s clothing, which she
sells. While Walmart is open, Sundance Clothing can only sell online
and, soon, by curbside service only. Read more
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The coronavirus pandemic has eviscerated state and local finances.
The country’s roughly 90,000 nonfederal-government entities provide and
pay for most of the government services that Americans receive. Factor
out federal defense spending and the federal government’s contributions
to health care, and state and local governments do most of the
government spending too: $4 trillion worth, or more than one-fifth of
America’s gross domestic product. Read more
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Despite mass unemployment and underemployment, multifamily rental
payments have held up far better than many industry experts expected
amid the economic wreckage caused by the spread of the novel
coronavirus. More than 36 million people have filed for unemployment in
recent weeks and millions of others working fewer hours and taking
reduced pay. Read more
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IAAO NEWS
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+ Run for the Board of Directors! The deadline is July 6 >
Members
interested in running for the IAAO Board of Directors should submit
candidate materials by July 6. Check out the Elections page for more
information. Regular members in good standing will be able to vote
electronically from Nov. 1-15, 2020, for the 2021 Regular Board Member
and Officer positions. There will not be candidates for Associate
Members in 2020. Read more
+ Upcoming webinars: Tax policy standard and using Excel in conducting ratio studies >
+ U40 Leadership Lab seeks nominations for U40 grant >
The
U40 Leadership Lab is seeking nominations for the U40 Leadership Lab
Grant. The grant is available to those members who have made tangible
contributions/innovations in their assessment offices and are under 40
years old. Applicant must demonstrate a need for financial assistance
and also submit a two- to three-page paper explaining the
contribution/innovation. The grant would provide financial aid to the
selected applicants who would normally not be able to attend the annual
conference. The grant form can be found and downloaded here: www.iaao.org/U40, and the submission deadline is June 15, 2020. Successful applicants will be notified once all the submissions are revised. Read more
+ IAAO to offer four online courses in June >
IAAO will offer Courses 101, 300, 331, and 400 in June in the Live Online format. Live Online Course 331: Mass Appraisal Practices and Procedures (30.0 CEUs) will be offered on Tuesday and Thursdays, June 2, 4, 9, and 11. Course 300: Fundamentals of Mass Appraisal (30.0 CEUs) offered on Monday and Wednesday, June 8, 10, 15, and 17. Live Online Course 101: Fundamentals of Real Property Appraisal (30.0 CEUs) will be offered on Tuesday and Thursdays, June 16, 18, 23, and 25. Live Online Course 400: Assessment Administration (30.0 CEUs) will be offered on Monday and Wednesdays, June 22, 24, 29, and July 1. Read more
+ IAAO has personalized training for R >
IAAO
is now offering personalized training on the R software for modeling
and spatial analysis, through screen sharing and video conferencing.
Paul Bidanset, IAAO Valuation Research Project Manager (and Ph.D.
candidate), who has presented at many IAAO and industry events on
modeling and other topics, will be providing the training. You can learn
R, using real data from your jurisdiction or with data supplied by
IAAO. Contact Paul at bidanset@iaao.org for cost details on R training or any other specific training requests.
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 | IAAO Connect Corner
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+ Hot Topic: Excel spreadsheets for statistics >
IAAO Connect members are discussing creating and sharing Excel workbooks that are used to calculate their statistics. Read more
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AROUND THE INDUSTRY
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+ The real estate industry pushed for $160 billion in tax breaks in the CARES Act, filings show >
House Democrats passed a largely symbolic bill on May 15 rolling
back two controversial tax provisions that had been slipped into the
CARES Act, the $2 trillion stimulus law that Congress passed in March
with overwhelmingly bipartisan support. The two tax provisions, which
remove caps on individuals’ and businesses’ ability to write off net
operating losses, are expected to deliver a $160 billion windfall to the
wealthiest Americans, disproportionately benefiting hedge fund and real
estate investors. While the repeal effort will likely be dead upon
arrival in the Senate, where it has no support among Republicans, the
Democrats’ move raises a question: How did these two massive tax breaks
for the very rich get slipped into the CARES Act in the first place? Read more
At a moment when state and local governments are already drowning
in red ink, Colorado’s constitution is now projected to trigger the
second-largest residential property tax cut in modern history. Under
forecasts presented Tuesday, Colorado lawmakers could be asked to cut
residential property taxes by nearly 18% in 2021 to comply with a
tax-limiting constitutional provision known as the Gallagher Amendment. Read more
The California state Board of Equalization is about to consider
some tax-law changes that would be a huge boon to big commercial
property owners and a disaster for cities and counties. California
counties could be required to give immediate tax rebates – that is, cash
payments – to private commercial property owners who say that the
COVID-19 pandemic has hurt their property values. Read more
At a time when unemployment levels are rising to heights not seen
since the Great Depression, the mortgage industry is among the
relatively few sectors outside of the frontline workforce that is
actively seeking out new employees. “We’re hiring and we’re expanding,”
said Paul Buege, president of Pewaukee, Wisconsin-based Inlanta
Mortgage. “And that’s happening on top of record volume for a company
that’s nearly 100% virtual.” Read more
Even more turmoil lies ahead for the U.S. retail sector as
effective retail rents are projected to plunge 11.00 percent in 2020,
according to Moody’s Analytics recent market forecast. This drop would
be nearly twice the decline in retail rents that occurred following the
Great Recession of 2008. It will also make retail the hardest-hit
commercial real estate sector, Moody’s Analytics pointed out. Read more
The Philippines will consider a digital services tax after the head
of the nation’s Ways and Means Committee, Joey Salceda, proposed one as
a measure to increase the nation’s post-pandemic tax base. Read 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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