Courses

Courses: Thirty hours of instruction and a final examination.

Course 101 - Fundamentals of Real Property Appraisal

This course is designed to provide students with an understanding and working knowledge of the procedures and techniques required to estimate the market value of vacant and improved properties. This course concentrates on the skills you need to estimate the market value of properties using two approaches to value: the cost approach and the sales comparison approach. This course is available in an online version or at various locations across North America. Please check the course calendar for in-person classes. For more information about this course, please review the Course Information Packet.
 
Recommended textbook: Property Assessment Valuation (PAV) (3rd edition)
AQB approved: 33.50 hours CE with exam / 30 hours CE no exam
 

Course 102 - Income Approach to Valuation

This course is designed to provide students with an understanding and working knowledge of the procedures and techniques required to estimate the market value of vacant or improved properties by the income approach. This course covers real estate finance and investment, capitalization methods and techniques, analysis of income and expenses to estimate operating income, selection of capitalization rates, and application of the approach. For more information about this course, please review the Course Information Packet.
 
Prerequisites: Course 101
Recommended textbook: Property Assessment Valuation (PAV)  (3rd edition)
AQB approved: 33.50 QE, 33.50 hours CE with exam / 30 hours CE no exam
 

Course 112 - Income Approach to Valuation II

This course is an intermediate level course designed for the practicing appraiser and builds on IAAO Course 102 training. An understanding of the income approach to value and practical experience with income capitalization are essential prerequisites. Problem solving requires a calculator with a power key. This course makes extensive use of financial compounding and discounting techniques. Emphasis is on developing financial factors by way of electronic devices with slight references to pre-printed tables. Forecasting income patterns and property value changes are prominent variables used in estimating present values. Formula driven models are the primary appraisal tools. Market value estimates through yield capitalization are the principal focus of the course. For more information about this course, please review the Course Information Packet.
 
Prerequisites: Course 101, Course 102
Recommended textbook: Property Assessment Valuation (PAV) (3rd edition)
AQB approved: 33.50 QE, 33.50 hours CE with exam / 30 hours CE no exam
 
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Course 201 - Appraisal of Land

This course is designed to provide students with an understanding and working knowledge of the procedures and techniques required to estimate the market value of land. This course concentrates on the skills necessary for estimating land value primarily using the sales comparison approach. For more information about this course, please review the Course Information Packet.
 
Prerequisites: Course 101, Course 102
Recommended textbook: Property Assessment Valuation (PAV) Textbook (3rd edition)
AQB approved: 33.50 hours CE with exam / 30 hours CE
 

Course 300 - Fundamentals of Mass Appraisal

This course provides an introduction to mass appraisal and is a prerequisite for the IAAO 300-level course series. Topics covered include single-property appraisal versus mass appraisal, components of a mass appraisal system, data requirements and analysis, introduction to statistics, use of assessment ratio studies in mass appraisal, modeling of the three approaches to value, and selection of a mass appraisal system. For more information about this course, please review the Course Information Packet.
 
Prerequisites: Course 101, Course 102
Recommended textbook: Fundamentals of Mass Appraisal (FMA) 
AQB approved: 33.50 hours CE with exam / 30 hours CE

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Course 311 - Residential Modeling Concepts

This course presents a detailed study of the mass appraisal process as applied to residential property. Topics covered include a comparison of single-property appraisal and mass appraisal, the major steps in the mass appraisal process, data requirements, market analysis, application of the approaches to value, use of sales ratio studies, and valuation review techniques. For more information about this course, please review the Course Information Packet.
 

Prerequisites: Course 300
Continuing education: 30 hours CE

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Course 312 - Commercial/Industrial Modeling Concepts

This course presents a detailed study of the mass appraisal process as applied to income-producing property. Topics include income property data, market analysis, sales comparison approach, cost approach, gross and net income analysis, capitalization rate development, model specification and calibration, and value review and maintenance. For more information about this course, please review the Course Information Packet
 
Prerequisites:  Course 300
Continuing education:  30 hours CE
 
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Course 331 - Mass Appraisal Practices and Procedures

This course is designed to build on the subject matter covered in Course 300 – Fundamentals of Mass Appraisal and prepares students to take advanced mass appraisal courses. In this course, students will learn how to use Excel and SPSS to analyze and apply data.  Much of the emphasis in this course is on data accumulation and analysis using the cost approach. Along the way, students will learn how to use Excel graphing and analysis tools for ratio studies and cost schedules. The course is available in an online version or at various locations across North America. Please check the course calendar for in-person classes. For more information about this course, please review the Course Information Packet.
 
Prerequisites:  Course 300 
Recommended textbook: Fundamentals of Mass Appraisal textbook (FMA)
AQB approved: 33.50 hours CE with exam / 30 hours CE
 

Course 332 - Modeling Concepts

This course introduces and explains the fundamentals of mass appraisal model building. This course includes a large number of demonstrations and labs using Excel, which is capable of producing basic models for a limited number of variables. This course serves as a foundation and bridge to IAAO’s two follow-up model building courses: 333 (residential modeling) and 334 (commercial modeling). For more information this course, please review the Course Information Packet.

Prerequisites: Course 300 and a solid working knowledge of Excel
Recommended textbook: Fundamentals of Mass Appraisal (FMA)
AQB approved: 33.50 QE, 33.50 CE with Exam / 30 hours CE no exam
 
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Course 333 - Residential Model Building

This course focuses on mass appraisal model building for residential properties. Along with problems and illustrations, this course uses hands-on labs and exercises along with real-world data to answer questions and construct data transformations, price trends, land and improved residential models, and ratio analyses. The course uses IBM’s statistical software package, SPSS (Statistical Package for the Social Sciences), the most common statistical software package used by assessors. 

Prerequisites: Course 300 and a solid working knowledge of SPSS
Recommended textbook: Fundamentals of Mass Appraisal textbook (FMA)
Continuing education:  30 hours CE

Course 400 - Assessment Administration

This course provides an overview of fundamental management concepts for management and supervisory personnel in an assessor’s office and focuses on the need for management, and the responsibilities placed on the assessor and all supervisory personnel. The course introduces the four major management functions: planning, organizing, directing, and controlling with a separate chapter devoted to each function for more in-depth learning and discussion. For more information about this course, please review the Course Information Packet
 

Prerequisites: Course 101
Recommended texbook: The Appraisal Foundation’s Uniform Standards of Professional Appraisal Practice (USPAP) and Assessment Administration textbook 
Continuing education: 30 hours CE

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Course 402 - Tax Policy

This course offers strategies for assisting in the effective formulation and implementation of tax policies and provides the context in which property tax policy is established. During this course, students will use analytical tools, including sound theory to guide decision-making and creating workable solutions, to explain the effects of proposed property tax changes. This course is designed for assessment administrators and students of taxation, as well as professional policy advisors who guide and make decision in the area of tax policy on a regular basis. For more information about this course, please review the Course Information Packet.

Recommended textbook: Fundamentals of Tax Policy 
Continuing education: 30 hours CE

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Course 500 - Assessment of Personal Property

This course is designed to provide students with an understanding and working knowledge of the procedures and techniques required to assess personal property. This course concentrates on the skills necessary for listing, appraising and assessing the market value of properties using the three approaches to value: the cost approach, income approach and sales comparison approach. This course offers a broad mixture of theory and practical application. For more information about this course, please read the Course Information Packet.
 
Recommended textbook: Property Assessment Valuation (PAV) (3rd edition) 
Continuing education: 30 hours CE
 

Course 501 - Personal Property Auditing – Basic to Advanced

This course combines Workshop 552 and 553 material and provides a foundation for understanding basic financial records, specifically related to fixed assets. The balance sheet, depreciation schedule, and income statement are described and discussed in detail. Emphasis is placed on the pertinent data relevant to the personal property appraiser. In addition, the course expands to advanced discussions of accounting and auditing theory as it relates to fixed assets. Capitalization techniques are also discussed. A case study that includes sample financial records is used to "discover" fixed assets that may otherwise be hidden from the appraiser. For more information about this course, please review the Course Information Packet.
 
Prerequisites: Course 500
Continuing education: 30 hours CE
 

Course 600 - Principles and Techniques of Cadastral Mapping

This course is designed as a comprehensive and interactive program that introduces entry-level map maintenance personnel and assessment technicians to the cadastral mapping field. Students will learn basic mapping principles and techniques and are expected to demonstrate basic skills that will allow you to plot deeded descriptions in both the metes and bounds land description and Public Land Survey systems. For more information about this course, please review the Course Information Packet
 
Prerequisite: Course 101
Continuing education: 30 hours CE
 

Course 601 - Cadastral Mapping Methods & Applications

This course is a continuation of the mapping science curriculum and exposes students to aspects of protocol and legal principles that are not featured in Course 600. For more information about this course, please review the Course Information Packet
 
Prerequisite: Course 101, Course 600 
Continuing education: 30 hours CE

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