Assessing Info 2018 July 19

Retail anchor store closures have landlords eliminating escape clauses >

As department stores continue to struggle mightily and exit malls across the country, landlords are doing what they can to stop the bleeding. Mike Mozart via Flickr Creative Commons One said of the more damaging after-effects of a mall's anchor going dark is the co-tenancy clause many smaller tenants have in their lease, allowing them to exit early if their larger neighbors close. But as closures continue, some landlords are removing such clauses from new leases, Bloomberg reports. Read more

Tax haircuts, or the rich? Californians consider
the options >

The Sacramento Bee fielded a question from a reader: What can be done to reduce the state budget's dependence on the income of a handful of high earners and remove the spending volatility? Here are some answers from other readers: Read more

Michigan counties teaming up against dark stores >

Marquette County and other local governmental units are contributing to Escanaba’s fight against dark stores — active big box retail stores that are assessed as if they stand empty and vacant, substantially reducing their taxable value. Escanaba is seeking funds from other municipalities to aid with a Michigan Tax Tribunal hearing that will “determine, once and for all, the treatment of big box appeals in Michigan.” Read more

IAAO NEWS

+ Nominating Committee Certifies Candidates >

Carol Kuehn, Chair of the 2018 Nominating Committee, has certified the following candidates were unanimously approved by the Nominating Committee on July 18, 2018 and will be on the ballot in November. President-Elect - Amy Rasmussen, RES, AAS; Vice President - Greg McHenry, AAS & Scott Winter, CAE, RES; Region 1 - Tanya Giddings & David Harper, AAS; Region 2 - Donna VanderVries, CAE, AAS, PPS; Region 3 - Tracy Drake, CAE, RES, AAS; and Associate Member - William A. Birkle, AAS. Read More

+ Conference Early Bird Registration Ends July 20 >

The Annual Conference Early Bird Registration period ends July 20 The early bird registration fee for the conference is $645 for members and $845 for nonmembers until July 20th. Fees then increase to $770 and $970. After Sept. 8 the fee is $895 for members and $1,095 for nonmember. The hotel room block IAAO reserved at the Hilton Minneapolis and the Millennium Minneapolis are full, however several other hotels in the area reported availability. Read More

+ IAAO offering Workshop 851 online in August >

IAAO will offer Workshop 851 online on August 8-9. The RES Case Study Review Workshop provides a topical review and case study for the valuation of residential property. It is designed to assist candidates in preparing to complete the residential case study examination towards either the RES or CAE designations. This workshop reviews key concepts and introduces candidates to the structure of the case study examination, ending with a practice exam. Read More

+ Preconference Mapping & Modeling Sessions Offered >

IAAO is offering introductory and advanced pre-conference workshops on mapping and modeling to take place on Sunday, September 23. Registration for each workshop is available online or by using the registration form and the fee is $125 for members and $220 for nonmembers. Participants must be registered for the sessions by August 24 and the sessions require a minimum of 20 students and maximum of 50. Read More

AROUND THE INDUSTRY

+ Four states sue Trump Administration over tax law >

Four states on Tuesday filed a lawsuit in federal court, arguing the new $10,000 cap that limits how much of a federal tax deduction can be taken for state and local taxes interferes with their abilities to make policy choices about what government provides in their communities. The change to the so-called "SALT" deduction was one of the most contentious provisions in last year's Republican tax cut bill. Read more

+ Accurate valuation is key to selling homes in less active UK property market >

A property that is accurately valued is more likely to sell quickly in the current British housing market where activity is slowing, it is claimed. New figures from a independent estate agent form 54 branches suggests that valuation is the key to avoid having to drop the asking price or accept an offer well below what is sought. Read more

+ Assessor apologizes for ethics violations >

The Upshur County, West Virginia, assessor issued a public apology Monday after reaching an agreement with the state Ethics Commission in which he admits he violated the West Virginia Governmental Ethics Act by continuing to sell real estate while also serving as county assessor. Read more

+ Trump Organization missed property-tax deadlines in five states >

President Trump’s company missed deadlines to pay property-tax bills in five states this year, the Washington Post reported. Trump’s company did not pay on time in New Jersey, New York, Florida, Illinois, and California, according to the newspaper. Read more