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Congress introduces bill to block hedge funds from buying single-family homes
Earlier this month, in response to the growing U.S. housing
affordability crisis, Democratic lawmakers from both houses of Congress
introduced bills that, if passed, would ban hedge funds from buying
single-family housing market, reports Chris Clow of HousingWire.
They would also be required to sell off all single-family homes they’ve owned over a decade.
Sen. Jeff Merkley of Oregon introduced the “End Hedge Fund
Control of American Homes Act of 2023” to the Senate. Rep. Adam Smith of
Washington introduced the House version. Read more
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Meredith Whitney LLC Founder Meredith Whitney, who
gained notoriety for predicting the 2008 financial crisis, says there
will be two demographic trends impacting housing in the coming years.
One is the fact that over the next few years, baby boomers will be turning 65.
Whitney argues many of these boomers will be looking
to downsize, freeing up some housing inventory. It's a trend Whitney
expects to start in the latter part of 2024 and continue for the next
several years. Read more
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Texas property taxes
Greg Abbott's $18 billion property tax relief package for
Texas homeowners and businesses came into force on Monday, despite
backlash from residents who complained about the cuts not being enough
to match the high tax burden they carry.
The historic bill, the Property Tax Relief Act, was
overwhelmingly approved on the Nov. 7 ballot by Texas voters and then
signed into law by Abbott.
But while the Texas governor celebrated the measure as the
“largest property tax cut in Texas history,” his jubilant post on the
social media platform X, formerly known as Twitter, was filled with
angry comments from Texas residents. Read more
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IAAO NEWS
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IAAO accepting topic proposals for the 2024 Annual Conference
IAAO is accepting presentation proposals for the 2024 Annual Conference.
The is deadline is Jan. 31 to submit proposals for the
education sessions offered at the 2024 Annual Conference, set for Aug.
25-28 in Denver.
If you have experienced situations or processes that could
benefit other IAAO members, please consider submitting an educational
session for the conference. Sessions that provide unique experiences are
encouraged. The 2023 post-conference survey respondents asked that
presentation areas include:
• Leadership and management
• GIS
• AI
• Complex commercial property, special use property, and personal property.
The Call for Presentations page is now open at www.iaao/Denver24. Information on submission guidelines is also online.
IAAO members asked to ratify bylaw updates
The IAAO Board of Directors is requesting the membership ratify additions to the IAAO bylaws.
The proposed bylaw amendments are primarily procedural
in nature but impact the ability of the board to establish councils and
affinity groups.
The election will take place starting in late January. Any updates to IAAO bylaws must be voted on by IAAO members.
At its November meeting, the directors reviewed
potential amendments, and then in a special meeting in December approved
submitting to a member vote the following additions to the IAAO bylaws.
- Section 9.4. Councils: The Board of Directors may
establish councils. The Board of Directors shall
determine the scope of the council, its organization, its
responsibility, and its specific charge.
- Section 9.5. Affinity Groups: The Board of
Directors may establish affinity groups. An Affinity Group is a
voluntary membership group that is based on a shared experience, common
goal/purpose, and/or special interest.
IPTI, IAAO seeking session topic proposals
for virtual appraisal symposium
The International Property Tax Institute and the
International Association of Assessing Officers will present a joint
(virtual) Mass Appraisal Valuation Symposium (MAVS 2024) on June 26-27,
2024, and are soliciting program topics for the symposium.
The theme of the virtual MAVS is “Challenges and
Opportunities,” and IPTI and IAAO are inviting potential speakers to let
us know if you would like to be included in the program.
Use the online application at www.iaao.org/mavspresent24
to submit the presenter information, topic, and a short synopsis of the
proposed topic. The deadline to submit topic proposals is Feb. 2.
Early registration open for GIS/Val Tech until Feb. 12
Registration is open for the 2024 GIS/Valuation
Technologies Conference, April 8-11 at the Le Meridien/Sheraton
Charlotte Hotel in Charlotte, North Carolina. Early bird registration
will continue through Feb. 12.
Additional workshops have been set up this year and the
optional pre- and post-conference workshops will provide deep dives into
many important topics.
The GIS/Valuation Technologies Conference for professionals
in property assessment, tax administration, mapping, and information
technology has been the favorite annual event for assessors and GIS
professionals who use technology to make property assessment and tax
administration more accurate and efficient for a quarter of a century.
Using AI in property assessment workflows subject of Jan. 11 Nearmap webinar
The application of artificial intelligence for change
detection has revolutionized property assessment, enabling assessors to
efficiently identify changes in the built environment, will be the focus
of a Jan. 11 webinar by Nearmap.
The webinar will review how with AI and up-to-date imagery,
you can create solutions that save time, money and resources that help
your team identify and manage changes.
With solutions such as change detection, you can create
repeatable processes and workflows that enlighten and expand the
possibilities of your department.
The webinar, “Leveraging AI for Change Detection and
Machine Learning in Property Assessment Workflows,” will be offered by
Nearmap, an IAAO Strategic Partner, at 10 a.m. Central on Thursday, Jan.
11. Register here.
Tyler Jan. 17 webinar: Enhancing assessment operations and recovering revenues
Tyler Technologies is offering a webinar on Wednesday, Jan.
17, to explore the industry landscape and note specific examples of how
clients are relying on Tyler solutions and services to enhance the
functions of their assessment offices and recover revenues to support
constituents.
The webinar, “How to Enhance Assessment Operations and
Recover Revenues,” will be offered by Tyler, an IAAO Strategic Partner,
from noon to 1 p.m. Central. Register here.
For questions or information regarding strategic partnerships, please contact Leann Ritter at ritter@iaao.org.
Interested in an IAAO designation? Attend the
Feb. 15 Zoom chat
If you are interested in an IAAO designation, Professional
Development Committee members are continuing to offer Zoom chats on the
second Thursday of every other month to answer questions and share
experiences about earning a designation.
The next chat is Thursday, Feb. 15, and will be a
discussion on earning an IAAO designation. Current designees will be
available to answer your questions. There is no charge, and you can
register here.
Future chats will focus on CAE and RES designations, the
MAS and AAS designations, and the CMS and PPS designations. Additional
chat dates and links to register are on the designation discourse page.
Eagleview to host Jan. 31 webinar on uncovering lost revenue and boosting accuracy
Take a deep dive into the significance of sketch
verification for property assessors during a webinar by Eagleview on
Wednesday, Jan. 31.
By integrating sketch verification into regular assessment
practices, assessors can recapture missed tax dollars and streamline
their review processes, ensuring no change goes unnoticed. Sign up to
explore how staying proactive with sketch verification can seal the
cracks, bolstering both efficiency and revenue for local governments.
The webinar, “Sketch Verification: The Key to
Uncovering Lost Revenue and Boosting Assessment Accuracy,” will be
offered by Eagleview an IAAO Strategic Partner from noon-1 p.m. Central
on Wednesday, Jan. 31. Register here.
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| MEMBER CONNECT CORNER
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IAAO Connect members are are discussing what
constitutes a significant/substantial “attachment” of an addition to
residential structures. Read more
| AROUND THE INDUSTRY
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Fulton County homeowners push back against corporate property tax breaks
The Fulton County (Georgia) Board of Assessors is stuck in a
rare stalemate on whether or not to grant millions in property tax
incentives for several major corporations.
“For the first time ever, the Board of Assessors has not
been able to rubber stamp it. They haven’t got the votes,” fair property
value advocate Julian Bene said.
Bene is applauding the Fulton County Board of Assessors for
the 2:2 vote that stalled the approval of a $32 million tax incentive
for a local data center being built at the Tilford Yard.
“If that $32 million was paid by that entity, there
would be relief on the homeowners,” said Lee Morris, one of the two
Fulton County Board of Assessors members who voted against the recent
tax breaks. Read more
San Diego County assessor’s office wins award
for its title fraud protection program
The San Diego County Assessor-Recorder-County Clerk (ARCC)
Office has been honored with an award for providing a free real estate
fraud notification service that protects San Diego County property
owners against title theft.
The award, presented by the Center for Digital Government,
recognized ARCC’s “Owner Alert,” a free service that is available to any
San Diego County property owner. Read more
Judge declines to dismiss San Francisco housing vacancy tax lawsuit
The San Francisco City Attorney’s Office will have to go to
court this year to defend a voter-approved tax on vacant homes, a judge
recently ruled.
Prop. M, also known as The Empty Homes Tax, was approved by
54.5% of San Francisco voters in 2022, but it immediately faced a legal
challenge from a group of property owners who argue that the measure
violates their constitutional rights to keep properties vacant.
The opponents of the new tax, who include the San Francisco
Apartment Association and the San Francisco Association of Realtors,
have since been engaged in a year-long back-and-forth with the City
Attorney’s Office. Read more
Where townhomes and condos will deliver
the biggest discounts for first-time homebuyers
The monthly cost to own a home — especially for those who
haven’t built equity by owning a house already — has never been higher,
and has caused many wannabe first-time homebuyers to throw in the towel.
But there is hope. For many newbies, it might just be a
matter of making a shift toward something they can better afford—like a
condo or townhome.
These lower-cost homes have historically been a
stepping-stone for buyers looking for a less expensive alternative to a
single-family home. And now is no different. Read more
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Paola, Kansas
• Assistant County Appraiser, Miami County See more
• Field Appraiser III, Miami County See more
Wasilla, Alaska
• Appraiser Supervisor, Matanuska-Susitna Borough See more
Manhattan, Kansas
• Appraiser III(DOQ), Riley County See more
Lansing, Michigan
• City Assessor, the City of Lansing See more
Kissimmee, Florida
• Commercial Appraiser, Osceola County Property Appraiser ’s Office See more• Residential Field Appraiser, Osceola County Property Appraiser ’s Office See more
Coeur D’Alene, Idaho
• Specialized/Commercial Appraisal Manager, Kootenai 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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Share news:
Keith Robison
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