Forget fancy kitchen upgrades ... what buyers desperately want is a home office >
The coronavirus pandemic has had a tremendous impact on our lives in one way or another. When it comes to housing, one survey has found that the top reason for moving over the second quarter was a need for more space. HomeLight surveys about 2,000 agents every quarter. Its latest results indicate that homebuyer housing preferences have certainly shifted amid the COVID-19 pandemic. The most desirable upgrades to homes in a post-COVID world are now home offices (17%), a less dense location (16%), single-family living (15%), and a private and spacious outdoor area (15%). “Home offices will likely become more formal and outfitted to a comfortable working environment as remote jobs become a permanent fixture of society,” HomeLight’s report said. Read more
Proposals for large solar plants routinely come under scrutiny for their potential to cause erosion and runoff, but for property owners who live nearby, concerns about the impact on their home values often loom just as large. Read more
Feat-Right.pngTravis, County, Texas, OKs millions in property tax rebate to lure Tesla factory >
Travis County Commissioners approved a property tax rebate Tuesday for Tesla Inc., aimed at luring the electric car maker to develop land for a truck factory. Tesla could get a rebate of up to 80% of the largest part of its county tax bill, resulting in a savings of $14 million for the company over the first 10 years. Read more
+ Nominating Committee approves board candidates >
Twelve candidates have filed and been approved by the Nominating Committee to run for the IAAO Board of Directors in the annual election to take place Nov. 1-15. Running for President-Elect is L. Wade Patterson. Running for Vice President are Patrick Alesandrini, CAE, RES; and Brian E. Gordineer, AAS. Running for the Region 1 board spot are Marcy Martin, AAS; Anita NG; and Deborah Nielsen. Running for the Region 2 spot are Brian Gay; Calvin A. Kent, AAS; R. Lane Partridge; and Samantha Steele. Running for the Region 3 spot are Robert Terry Lee, AAS; and Terry Taylor, CAE, RES, AAS. Read more
+ Conference to feature keynote on assessing sports collectibles, other memorabilia >
Attendees at the 2020 IAAO Virtual Annual Conference can take part in a special keynote session on the valuation of sports and other memorabilia. Attendees can submit photos of their items for valuation by Leila “Lee” Dunbar, longtime PBS series “Antiques Roadshow” sports memorabilia appraiser and Chair of The Appraisal Foundation Board of Trustees. Photos of items to be evaluated must be submitted to Leann Ritter by July 28. Read more
+ Virtual annual conference schedule, session list now available >
The list of sessions and overall schedule for the 86th Annual International Conference on Assessment Administration is available on the IAAO website. IAAO is transforming the conference into an exciting virtual conference featuring educational sessions, an exhibit hall, and special events. The 2020 virtual conference will take place Aug. 30 to Sept. 1. Registration is now open, and the Early Bird deadline is July 31. Read more
+ August webinar AssessR: A new tool for ratio studies and more >
Cook County Assessor’s Office Chief Data Officer Rob Ross will present a new R package, AssessR, and show how assessors can use it to perform ratio studies, look for sales chasing, and more during a webinar on Aug. 14. AssessR was developed as part of the Cook County Assessor’s New CAMA system, built on free, open-source software. It contains a growing suite of helpful tools to streamline and standardize ratio studies. It is available to the public for free, and its source code is public. In this webinar, Rob will demonstrate how to open and read data into R, and how to use AssessR to calculate ratio statistics. Read more
+ Legal Seminar set for Dec. 3-4 in Austin; registration now open >
The 41st Annual Legal Seminar will be presented Dec. 3-4 at the Omni Austin Hotel Downtown in Austin, Texas. It will cover legal topics of interest to members of the assessment and property tax industry. Attendees may register online or submit a paper form with payment. Fees are $500 for IAAO members and $700 for nonmembers until Nov. 2. After that date, fees increase to $550 for members and $750 for nonmembers. For more information, see the registration and hotel page on the IAAO website. Read more
+ Are you a second-generation IAAO designee? >
Or are you a designee married to a designee ? We're looking for designee families to interview for a future story in Fair+Equitable magazine. If you belong to an IAAO designee family, please contact F+E Editor Keith Robison at robison@iaao.org
+ July webinar: Preparing CAMA Data for Automated Valuation Models >
The ability of automated valuation models (AVMs) to produce accurate valuations reflective of the market is dependent upon appropriate formatting of CAMA data. This will be reviewed in a webinar presented by IAAO Valuation Research Project Manager and Ph.D. candidate Paul Bidanset on July 31 and he will address best practices with regard to data quality and will demonstrate how to prepare data to be used in a regression-based automated valuation model. Read more
IAAO Connect Corner
+ Hot Topic: Specialized communtity resales >
IAAO Connect members are discussing whether there is premium paid by the initial owner of houses in specialized community resorts. Read more
+ Outlook for hotels worsens, again >
Just a few weeks ago, the hotel business seemed to be on the mend. More people were checking into hotel rooms as many states across the U.S. loosened restrictions meant to slow the spread of the coronavirus. The recovery seemed to come just in time. The percentage of hotel properties that had fallen behind in their mortgage payments had already sharply increased. But tens of thousands of people have now tested positive for the novel coronavirus every day in the first weeks of July, setting new records across the Southeast and Western U.S. That’s brought a new blow to the hotel sector. Read more
Prosecutors from more than half of Idaho’s counties are questioning whether Gov. Brad Little’s plan to use $200 million in federal aid for property tax relief is legal under the federal CARES Act. Little’s plan calls for sending $200 million to participating cities and counties to cover local public health and public safety personnel salaries, on the condition that savings are passed to property taxpayers as a credit on their 2021 tax bill. Additionally, cities and counties could not increase their property tax budgets by the allowed 3% next year or use any forgone balance from previous years, but they could still collect new construction or annexation. Read more
As more department stores and other anchor retail tenants file for bankruptcy and close permanently, landlords face yet another problem in an already dire retail environment — co-tenancy clauses. When anchor stores go dark in a retail center or mall — or a certain amount of overall space remains unoccupied — it can trigger co-tenancy clauses in leases that can allow in-line tenants to demand rent reductions or even break their leases. Read more
When Connecticut policymakers adopted an individual income tax in 1991, many hoped that it would take pressure off state sales taxes and local property taxes. Sales tax rates, hiked in the preceding years, came down — but the Nutmeg State’s property taxes remain among the highest in the country. As a percentage of housing value, Connecticut homeowners now pay 20 percent more than New Yorkers and almost 50 percent more than their Massachusetts peers. Those two neighboring states once had property tax burdens on par with Connecticut’s, but after more than eight years under a property tax limitation regime in New York and four decades in Massachusetts, the states’ respective property tax systems have diverged sharply. Read more
+ Rosenberg, Texas >
Chief Compliance and Legal Officer, Fort Bend Central Appraisal District See more
+ Sandpoint, Idaho >
Certified Residential Appraiser, Bonner County See more
+ Salem, Oregon >
Senior Property Appraiser, Marion County See more
+ Coeur d Alene, Idaho >
Residential Appraiser II, Kootenai County See more
+ Coeur d Alene, Idaho >
Residential Appraiser I, Kootenai County See more
+ Washington, North Carolina >
Tax Assessor, Beaufort County See more
+ Newbury, New Hampshire >
Assistant Assessor, Tri Town Assessing See more
+ Minot, North Dakota >
Director of Tax Equalization, Ward County See more
+ Nashua, New Hampshire >
Chief Assessor, City of Nashua See more
+ Dallas, Texas >
Director of Appraisal Services and Chief Appraiser, Berry Global See more
+ Hannibal, Missouri >
Certified General Appraiser, FCS Financial See more
+ Kansas City, Missouri >
Senior Commercial Appraiser, Jackson County See more
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