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Reform-minded assessor tackles Chicago valuations, and ‘the system’
A recent story in the Chicago Sun-Times said that Cook County
Assessor Fritz Kaegi "needs to deliver on promises this year." Owners of
more expensive properties in the city, whether the business or
residential variety, worry they’ll foot the bill for those promises. An
IAAO study of 2018 Chicago assessments found that under Kaegi’s
predecessor, Joe Berrios, commercial properties in the city were
undervalued by nearly 50%. Across the county, the report found the
undervaluation at almost 40%. Read more
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The
condo collapse in Surfside has put older buildings under the
microscope: pausing deals, propelling associations to move forward with
repairs, and generally creating trepidation for buyers and sellers. The
collapse of Champlain Towers South, a 12-story, 136-unit condominium
just north of Miami Beach, is expected to lead to lower pricing in older
buildings, experts say. Buyers, lenders and insurers will likely demand
more information on inspections, repairs and recertifications than ever
before. Read more
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Remote
work is pushing up home prices in areas that may not be as friendly for
commuters. A new report from Redfin says that home prices in
car-dependent areas have risen twice as fast as those in
transit-accessible areas since the start of the pandemic. In
car-dependent areas nationwide, the median home-sale price has increased
32.8% to a record $418,100 since January 2020. In transit-accessible
regions, it has risen 15.6% to a record $540,500 during the same time
period. Read more
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IAAO NEWS
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Friday is early registration deadline for conference
Register for THE Assessing event of the year by Friday, July 16, to save up to $250. Friday is the early registration deadline for the in-person and virtual 2021 IAAO Annual Conference,
set for Aug. 29 to Sept. 1 in Chicago. Nearly 800 people have signed up
since registration opened just a few weeks ago. Here's a new schedule at a glance.
The Annual Conference is the premier platform to share successes,
discover best practices, and learn about the latest research in the
field of property appraisal. Participants may register online, or
registration forms are available to download. More than 70 sessions will
be offered at the in-person conference, and the virtual conference
component will include access to a select number of education sessions,
networking opportunities, exhibitors/sponsors, and more. Check out the video from keynote speaker Morris Morrison promoting the conference. Register here. For current information on Chicago travel conditions and any restrictions, see the Travel to Chicago web page.
Save the date! Golf event set for Aug. 29 at conference
The Illinois Chapter of IAAO is
working with IAAO to offer a golf outing on Sunday, Aug. 29.
Registration, pricing details, and a link to register will be available
soon. The event will take place at the Harborside International Golf
Club, in south Chicago, and will kick off with a 7:30 a.m. shotgun
start.
Webinar to review what to know about conference
The IAAO Annual Conference is right around the corner, and IAAO will be presenting a free webinar
from noon to 1 p.m. Central on July 30 with event details. Hosted by
the IAAO Headquarters Team and the Local Host Committee, the webinar
will dive into the details that will make this the best IAAO conference
yet. Come learn the ins, outs, and must-sees directly from the people
who make it all possible. There is no charge for the webinar and
no CEU Hours provided.
IAAO working with TEGOVA on standards; Lisa Hobart named Reviewer for standards committee
The
International Association of Assessing Officers (IAAO) recently
announced it will be working with The European Group of Valuers’
Associations (TEGOVA) on standards and Automation Valuation Modeling. As
part of the relationship, IAAO member Lisa Hobart, CAE, PPS, FIAAO, has
been appointed to serve as Reviewer for the TEGOVA’s European Plant,
Machinery & Equipment Valuation Standard. TEGOVA is on schedule to
launch Europe’s first Plant, Machinery & Equipment Valuation
Standards in the autumn 2022. Hobart, who recently began her work with
the committee, will be attending the 2021 TEGOVA Conference in October
along with IAAO President Greg McHenry and IAAO Executive Director Debra
N. McGuire, MBA, IOM, CAE. McHenry will be speaking to the TEGOVA
General Assembly on the topic of Automated Valuation Modeling. Read more
Virtual Instructor Evaluation Workshop is Nov. 4-6
Registration
is now open for the virtual Instructor Evaluation Workshop for members
interested in becoming a virtual instructor. The IEW is an intensive
three-day event that allows participants to showcase training skills and
abilities related to the delivery of IAAO materials in a virtual
classroom setting. This IEW is a virtual experience and will be offered
Nov. 4-6 via the Zoom platform. Those who pass the virtual event will be
junior instructors and certified to teach in the virtual classroom. Register here
IAAO releases public speaking video series
The
new IAAO Speaker PREP video series is now available! In this set of
five short, animated videos, IAAO speakers and presenters of all
experience levels will learn the PREP approach to effective public
speaking preparation and delivery. The series is free to all, and just
in time for 2021 conference presenters to put these practical, usable
strategies into action. The videos are available to view at www.iaao.org/speakerprep.
New winner picked in demographic campaign; update your profile for a chance at $50
Amber
Marroquin of the Pinal County Assessor’s Office is the third recipient
of a $50 gift card for participating in the IAAO demographic data
collection campaign. IAAO launched the campaign on June 1. Members who
update their profile are entered in a drawing for $50 gift cards
sponsored by Tyler Technologies. The profile update includes additional
information than was collected in previous years. The information will
be used to assess IAAO’s membership makeup, and highlight the diversity
of our global community. Update your profile here.
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IAAO CONNECT CORNER
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IAAO Connect members are discussing the various state assessor licensing and certification requirements. Read more
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AROUND THE INDUSTRY
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The
city of Youngstown has been looking for ways to get people to move back
into the city and now, if they build new, they won’t have to pay
property taxes for 15 years. It’s called a Community Reinvestment Area,
and in some cases it could mean a savings of $20,000. With the CRA,
anyone building a house or a commercial building in Youngstown would not
have to pay property taxes for 15 years. If someone puts $5,000 or more
into remodeling an existing house or building, they would not pay
property taxes on the increase in the assessed value for 15 years. Read more
Disney
is arguing its property tax assessments are too high for the Magic
Kingdom, its other three Orlando, Florida, theme parks, its hotels and
other properties that make up the company’s sprawling Central Florida
real estate portfolio, according to a dozen lawsuits Disney filed last
month in Orange Circuit Court for the 2020 tax year. For Disney,
contesting the assessments, which the company calls “excessive,” has
become an annual event since Disney started suing over them in 2015. Read more
Changes ahead for property tax in Australia
A
new windfall gains tax will be introduced July 1, 2022. This new tax
will impose tax at 50% for increases in value above AU$500,000 which
result from a rezoning decision from the local council. Lower taxation
rates will apply to value increases of between AU$100,000 to AU$500,000.
This new tax is targeted at developers and landholders who benefit from
the increased value of land from a rezoning decision, but the scope of
the tax will ultimately depend on the drafting of the legislation, which
is yet to be issued. Read more
The
Board of Supervisors has allocated an additional $1 million to the
Marin County Assessor-Recorder-County Clerk’s Office to cover an
increased workload caused by passage of Proposition 19 in November.
Shelly Scott, the head of the office, said the money will cover two
years of costs to hire three, full-time employees. The initiative
increased the portability of Prop. 13 property tax protections for
homeowners who are 55 or older. The measure allows up to three moves in a
lifetime and places no restrictions on where the new property is
located. Read more
A
change in Tourism Development Tax requirements has left some short-term
rental owners confused about how much they need to pay Escambia County,
Florida, and it’s left the county clerk’s office with a heavier
workload trying to review hundreds of files that have in many cases
become inadvertently delinquent. Read more
Florida
Gov. Ron DeSantis issued an executive order late last week, suspending
laws that would require residents of the collapsed Champlain Towers
South condo in Surfside to pay property taxes. Read more
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+ Lincoln, Illinois
Supervisor of Assessments, Logan County See more
+ Newton, North Carolina
Tax Administrator, Catawba County See more
+ Marietta, Georgia
Real Property Appraiser 1, 2, 3, or 4, Cobb County Board of Tax Assessors See more
+ San Diego
Division Chief I, Assessor/Recorder/County Clerk, County of San Diego See more
+ Charleston, West Virginia
Director of Property Tax, West Virginia State Tax Department See more
+ Hartford, Connecticut
Chief Assessment Technician, City of Hartford See more
+ San Jose, California
Deputy Assessor, County of Santa Clara See more
+ West Hartford, Connecticut
Property Appraiser III-Residential Property, Town of West Hartford See more
+ Chesterfield, Virginia
Director of Real Estate Assessments, Chesterfield County See more
+ Lincoln, Nebraska
Senior Commercial Appraiser, Lancaster County Assessor's Office See more
+ Coeur D'Alene, Idaho
Residential Appraiser I, Kootenai County 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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