Guidance on Developing Mass Appraisal and Related Tax Policy
This document, although not an IAAO Standard, was developed to provide guidance on developing mass appraisal systems from the collective experiences and lessons of valuation practitioners. The primary focus is on mass appraisal for value-based recurrent property taxes (also known as “rates on property”). November 2023
Tax Policy PaperA Review Of The Methods, Applications, And Challenges Of Adopting Artificial Intelligence In The Property Assessment Office
This white paper describes the impact and uses of artificial intelligence (AI) in government valuation offices. This white paper delivers an introduction and overview of AI through case and pilot studies and a review of relevant analytic methods while touching on possible organizational impacts. The paper looks at the changing role of valuers and assessment administrators and the evolution of valuation offices where AI will be used to improve operations, value estimates, and administration. January 2022
AI PaperSetting the Record Straight on Fee Simple
This IAAO paper addresses issues regarding the term fee simple, or more appropriately, fee simple absolute. Ongoing controversy regarding appraising the fee simple estate has prompted the need for further discussion on this topic. Specific issues arising from the term fee simple absolute include whether a property should be valued as if vacant, whether the term assumes any encumbrances on the property, and whether fee simple implies market rent. The fee simple estate is the foundation of what assessors in many jurisdictions are asked to examine, and clarifying this concept will assist assessors, appraisers, the courts, and others in the appraisal community in maintaining consistency, credibility, and uniformity in assessment and appraisal practices. (August 2019)
Fee Simple PaperCommercial Big-Box Retail: A Guide to Market-Based Valuation
This IAAO position paper provides guidance for the valuation of big-box retail properties. Over the last several years, issues involving these properties and theories about how to value them, such as the dark store theory, have resulted in great debate within both the appraisal and legal communities. Even though this paper concentrates on arriving at the market value of the fee simple interest of these properties, it provides guidance regardless of the specific law of a jurisdiction. (September 2017)
Big-Box Paper