Assessing Info SEPT 8 2020

Water, a Utah constitutional amendment, and how it affects property values >

A Utah constitutional amendment on November’s ballot may appear to be a sleeper issue, but proponents pushing its passage say a no vote could put millions — possibly billions — in property value at risk in Salt Lake County and across the state. In Utah, the second most arid state in the nation, it all boils down to water: Who has it as a permanent source attached to the property they own, or who has a home or business that unknowingly is receiving water through a contract subject to cancellation within as little as 30 days notice. Read more

Freedom to telecommute could add 2 million buyers to the housing market >

Almost 2 million U.S. renters that currently can’t comfortably afford to buy an entry-level home in their current metro area could potentially afford the nation’s typical starter home if they took advantage of increased telework options and moved to a less-expensive locale. Read more

Wineries and farms decimated by COVID turning their land into campsites >

Whether it’s wineries, cattle ranches or vegetable farms, owners of rural estates are confronting an unprecedented crisis due to the near-collapse of the tourism and hospitality industries and plunge in restaurant sales. Properties that count on consumer traffic to move their products have been stunted by social distancing rules and restrictions on indoor activities, while food producers are stuck with excess supply from the sudden closure of restaurants and cancellation of festivals and live events. Read more

IAAO NEWS

+ More than 1,200 attend virtual annual conference >

Nearly 1,250 attendees and exhibitors took part in the virtual IAAO Annual Conference last week, and the meeting offered about 70 educational sessions and networking events, along with a virtual exhibit hall. All education sessions are available for attendees to watch and are posted on the conference site under Videos on Demand. And as a bonus, registrants have access to all of the education sessions until the end of the year.

+ Conference CE credits still available >

Attendees can get credit for watching recorded sessions through the end of 2020. If you watched sessions live, the system recorded your attendance and the information will be posted to your IAAO record and members can view the total online. If you watch a session through the Video on Demand section of the conference website, you will need to record the codes on the link below and submit them online. IAAO will update your record. Read more

+ Check your email: 2021 Board election is in November >

The election for the IAAO Board of Directors and consideration of proposed amendments to the bylaws will take place Nov. 1-15, and Regular members are encouraged to check their email address IAAO has on file. Candidates are L. Wade Patterson, currently IAAO Vice President, who is running for President Elect. Patrick Alesandrini, CAE, RES, and Brian E. Gorsdineer, AAS, are running for Vice President. 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, Ph.D.; R. Lane Partridge; and Samantha Steele. Running for the Region 3 spot are Robert Terry Lee, AAS; and Terry Taylor, CAE, RES, AAS. There is no associate member board member opening this year. Video messages from each candidate are now available to view online. Read more

+ Online 101, 201, and 311 offered this fall >

IAAO will offer online versions of courses 101 (Fundamentals of Real Property Appraisal), 201 (Appraisal of Land), and 311 (Real Property Modeling Concept) in September and October. The 101 course will be offered online over two weeks on Tuesday and Thursdays, starting Sept. 22, with the exam taking place Oct. 5-7. The 201 course will be offered online over two weeks on Tuesday and Thursdays, starting Oct. 6, with the exam taking place Oct. 19-21. The 311 course will be offered online over two weeks on Monday and Wednesdays, starting Sept. 14, with the exam taking place Sept. 28-30. Read more

+ IAAO L.A. Chapter holding virtual seminar in October >

The Los Angeles County Chapter of IAAO will be hosting a virtual seminar on Wednesday, Oct. 28 and registration will start soon. The seminar will take place from 7:30 a.m. to noon. The cost is $15 for members and $15 for nonmembers. The seminar will include sessions on market outlook and the Proposition 15 “Split Roll” proposal. For more information, contact Augie Augliar, IAAO-LA County Chapter president. Read more

IAAO Connect Corner

+ Hot Topic: Annual reports >

IAAO Connect members are discussing property tax on heavy equipment rental inventory. Read more

AROUND THE INDUSTRY

+ San Diego County Assessor speaks against California's Props 15 and 19 >

The county’s assessor, recorder and county clerk is speaking against Propositions 15 and 19 on the Nov. 3 ballot, warning they erode the long-cherished taxpayer protections of 1978’s Proposition 13. “This is the wrong idea at the wrong time,” said Ernest Dronenburg, Jr., who has held the elected office for many years. “We need to support small businesses, not crush them with a tax increase.” Read more

+ Retail's future could well be a 'dark store' >

During a time when external circumstances have disrupted operations and forced retailers to temporarily close their doors, the industry has had to re-imagine stores and make some difficult decisions. Read more

+ No bargains in sight as home prices show little impact from Coronavirus >

The median price of U.S. homes sold in May was $263,408, up 4.6% year-over-year. But May was also the second straight month in which annual growth was slower than the month prior — definitively snapping an almost year-long period of continuous acceleration that began in April 2019 and peaked in March at 5.5%. Read more

+ The impact of COVID-19 on the hotel industry >

Up until this year, Cleveland County has seen steady growth in the hotel industry as sporting tournaments, festivals and events attract visitors to the area and keep them overnight. Not only does it benefit the local economy, but the tax dollars collected from occupancy taxes are then returned back to the county through travel and tourism grants. This spring, COVID-19 brought things to a screeching halt. Read more