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Memphis, Tennessee, home sellers and the Shelby County assessor are
banding together to slow outside investors that are making home
ownership increasingly difficult for Mid-South families. On top of that,
Zillow reports year-to-year Memphis home values up 23%. Shelby County
resident Susie Lynch wants to change this trend — on her terms.
“People are struggling and they are trying to plan a future and they
don't know what it’s going to be,” Lynch said. When she puts her house
on the market soon, there’s one condition: it must go to a local family
and not an outside investor. “People that are going to enjoy it and
raise their kids in it and be proud to own it,” she said. Read more
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Fundamental economics tells us that home price growth and income growth
are interwoven. Neither can outrun the other for very long. That is
what’s concerning about the pandemic’s housing boom: Over the past year,
home price growth (20.6%) is four times greater than income growth
(4.8%).
That disconnect has more economists flirting with the most hated two words in real estate: housing bubble. Read more
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New York’s most generous property tax break could bite the dust
For
those who want to see New York City revive and thrive, the impending
demise of the 421a housing-construction abatement, known by its section
of state law, may seem like a blow. The annual $1.8 billion property-tax
break, the city’s most lucrative, has enabled the construction of
thousands of income-restricted “affordable” units.
The majority of the city’s new residential development since 2013 (and
28% of affordable units) has made use of it. But after 50 years, the
subsidy looks to be at the end of the line in Albany. Read more
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IAAO NEWS
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Code of Ethics changes, new enforcement section focus of June 15 webinar
Changes to the IAAO Code of Ethics and a new enforcement section will
be the topic of an IAAO webinar from 11 to 11:30 a.m. Central, June 15,
presented by President Wade Patterson and Ethics Committee Chair Bruce
Woodzell.
The online presentation will review the work by the committee, outside
legal counsel, and IAAO, and the expected impact on members. Register here
In 2021, the Ethics Committee completed updates to several parts of the
Code of Ethics. The new enforcement section to the IAAO Code of Ethics
was developed by the Ethics Committee and reviewed by the Governance
Committee and was recently approved by the Board of Directors. The
enforcement section outlines the process to file a complaint, the
alleged violation evaluation process, potential sanctions, publication
of sanctions, and the appeals and reinstatement process.
June IAAO webinar: Valuation of Solar Farms
Property Tax Assessment of Solar Farms in Indiana will be the subject
of an IAAO webinar in late June. The webinar, from noon-1:30 p.m.
Central on Wednesday, June 29, will review how solar energy is a rapidly
growing industry with a short history.
This makes solar property valuation challenging. Solar development also
presents challenging considerations for local government officials.
With enough information and a goal of fair treatment of solar
properties, appraisers and officials can be ready to face these
challenges head on. The webinar will be presented by Bradley Berkemeier
of the Nexus Group and is eligible for 1 CEU hour. Register here
Register for the 2022 Annual Conference
Conference registration and hotel reservations for the 2022 IAAO Annual
Conference, Aug. 28-31 in Boston, are now available. The IAAO Annual
Conference is the premier platform to share successes, discover best
practices, and learn the latest research in the field of property
appraisal. Attendees can register online for the in-person and virtual
component or download a paper registration form. Vision Government
Solutions is the registration sponsor. Register here
Also, the IAAO Local Host Task Force has a group of tickets for a
baseball game between the Tampa Bay Rays and the Boston Red Sox at
historic Fenway Park on
Saturday afternoon, Aug. 27. To register for the IAAO golf tournament
or to buy baseball tickets, go to the Massachusetts IAAO chapter website
at ma-iaao.org
The Annual Conference will take place at the Hynes Convention Center in
Boston. Hotel rooms are available at the nearby Marriott Copley Place.
In-person attendees can earn up to 12.5 credit hours from the main
conference and eight additional hours from pre-conference workshops.
Virtual attendees will have 11.5 preselected credit hours available via
the livestream. Read more
Emerging Leaders’ Summit registration deadline is June 30
Registration is open for the 2022 Emerging Leaders’ Summit, and this
year’s theme is “Leading Multigenerations.” The Emerging Leaders’ Summit
is designed for early- to mid-career managers who want to advance
within the assessment profession and to grow as leaders.
The program will be presented in three parts: two webinars (scheduled
for July 28 and Aug. 10) and a third session, “Mind the Gap! How to
Navigate Intergenerational Communication Gaps in the Workplace,” that
will take place on Aug. 31 at the IAAO Annual Conference in Boston. The
final session at conference will be recorded for those unable to attend.
Fees for the Emerging Leaders’ Summit are $295 for IAAO members and
$395 for non-members and registration is open through June 30. Thanks to
DataCloud Solutions, a Woolpert Company, for being the Materials
Sponsor for the event. Read more
Mass appraisal topic of June online symposium
Registration
is open for the online symposium on Mass Appraisal Valuation, presented
by IAAO and the International Property Tax Institute. The virtual
symposium, “Applications and Challenges,” will take place on June 22-23.
Programming is focused on appraisal, valuation and assessment
practitioners, valuation/assessment agency managers, municipal
representatives, policymakers, technology professionals, academics, and
educators interested in sharing experiences and knowledge relative to
property tax policy and valuations, including innovations, theory,
application, management, and practices. More information on the
symposium and registration is available online. Read more
Election info submission deadline approaching
Members interested in running for the IAAO Board of Directors should
submit candidate materials by July 1. Check out the Elections page
for more information and forms needed to submit. Regular members in
good standing will be able to vote electronically from Nov. 1-15 for the
board member and officer positions. Read more
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AROUND THE INDUSTRY
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Think land values are high? Minnesota says county should have gone higher
While
taxpayers across Crow Wing County continue to digest an average 35%
spike in residential and seasonal property values, the state says the
county didn’t go high enough in some cases. Read more
“If someone is going on holidays and lets out their home for a couple
of weeks or lets out their room, that shouldn’t be an issue, but the
idea that we have a situation where we have multiples of short terms
lets versus long terms in all our major cities is not a sustainable
situation,” said Darrah O’Brien, Ireland’s minister for housing, local
government, and Heritage of Ireland. Read more
Pakistan’s
Real Estate sector has asked the government to transfer the decision of
determination of Property Valuation from federal to provincial
governments.
Pakistan’s Real Estate sector in its budget proposals for the next
fiscal year asked the federal finance minister to exclude Section 68(4)
of Income Tax Ordinance 2001 immediately besides Property Valuation
should only be done by Provincial Govt who are already practicing it and
capable of doing it as they already have Field Force Revenue
Department. Read more
A new Tennessee law offers privacy protections for residential property
owners. Through the bill, a property owner can request that their
county property assessor label them as “unlisted” in online searchable
databases. The bill was signed into law by Gov. Bill Lee and will go
into effect Jan. 1, 2023. Read more
Opinion: Fritz Kaegi finally fixed Cook County’s broken property tax system
I’ve never been impressed with any of Illinois’ politicians but Fritz
Kaegi, the Cook County Assessor since 2018, is the exception to that
rule. He inherited a seriously broken system from former Assessor Joe
Berrios and has completely turned it around.
I believe the end result will be extremely good news for Chicago
homeowners who need to note that this guy is on the primary ballot on
June 28. Read more
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+ Vancouver, Washington
Residential Appraisal Manager, Clark County Assessor's Office See more
+ Chicago
Industrial Commercial Valuations Junior Analyst , Cook County Assessor's Office See more
Manager of Commercial Valuations, Cook County Assessor's Office See more
+ Wauwatosa, Wisconsin
City Assessor , City of Wauwatosa See more
+ Fayettteville, North Carolina
Senior Appraisal Analyst , Cumberland County Tax Administration See more
+ Fort Collins, Colorado
Appraiser I , Larimer County Assessor See more
+ Bend, Oregon
Applications System Analyst II or III , Deschutes County See more
+ Pittsburgh, Pennsylvania
Chief Assessment Officer , Allegheny County See more
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International Association
of Assessing Officers
314 West 10th Street
Kansas City, Missouri 64105
816-701-8100
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Keith Robison
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