Fee Simple, the subject of a recent IAAO position paper, will be the focus of an upcoming free webinar series, "Big Box Appraisal: Fee Simple Concepts & Tax Assessment," hosted by realquantum. The two-part webinar series is set for November 6 and November 22.
Big box appraisal valuation has been a huge topic in the appraisal industry. Valuations for tax purposes are based on a fee-simple value. However, there has been confusion on what exactly fee-simple entails. As a result, it led to a debate about how to value big box appraisal retail properties and realquantum is offering the webinar series on the topic.
Part One - Challenging Fee Simple and Retail Tax Assessments in Big Box Appraisal
The first part is on Wednesday November 6, 2019, from 10:00 am – 11:00 am Central and is on “Challenging Fee Simple and Retail Tax Assessments in Big Box Appraisal.” Mark Hutcheson, attorney and managing partner at Popp Hutcheson, PLLC, will present. He leads the Case Resolution Team of the firm and also serves on the Institute for Professionals in Taxation (IPT) Board of Governors.
Part Two - Setting the Record Straight on Fee Simple in Big Box Appraisal
The second part is Friday, November 22, 2019, from 11:00 am to Noon Central, and will be on “Setting the Record Straight on Fee Simple in Big Box Appraisal” with Peter Korpacz, MAI, CRE, FRICS and Greg McHenry, AAS. The session will review the definition of “highest and best use” and “fee simple estate.”
Mr. Korpacz is the founder of Korpacz Realty Advisors, Inc., specializing in litigation-support, including expert witness testimony and served on the task force that developed the fee simple paper for IAAO. Greg McHenry, AAS, is county appraiser of Riley, County, Kansas, a Kansas registered mass appraiser (RMA), and Vice President of IAAO.
Fee Simple to be reviewed at the IAAO Legal Seminar
Mr. Korpacz, and other members of the IAAO Fee Simple task force will present on the fee simple paper at the annual IAAO Legal Seminar in Phoenix in December. Registration for the Legal Seminar is currently open and the early registration deadline is Friday, Nov. 1.
