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To qualify for the $1 houses, buyers have to commit to restoring the residence and have at least $90,000 to do so.
Comparable programs have existed before. In fact, Baltimore piloted a similar offer in the 1970s and sold $1 houses to homesteaders, while many Italian cities famously sold houses for a euro in the late 2010s. Read more
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But the city is also giving away $30 million a year in tax breaks to some of Memphis' biggest companies. In Shelby County alone, there are nine boards with the power to grant PILOTs (Payments In Lieu Of Tax.)
Basically, a company gets to pay a fraction of the property tax they would typically owe. The incentive is a major tool used to lure businesses, help them expand or keep them in Memphis when they're considering moving out. The goal is to attract and keep jobs in the area. Read more
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Airbnb having ‘shocking impact’ on Ireland’s County Mayo housing
There are 27 properties on Airbnb to every long-term let in County Mayo and this is having a shocking impact on young families in Ireland, according to Independent election candidate, Harry Barrett.
Barrett was commenting on a recent report by Lorcan Sirr, professor of housing at the University of Galway, on the effects of the Airbnb platform on local rental prices.
The report found that the lack of long-term lets countrywide was severely impacted by the number of short-term lets available on the Airbnb platform. Read more
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IAAO NEWS
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IAAO seeks your help on new website design, layout, and organization
IAAO has a “Card Sort Study” where participants view a list of web pages and then group them into sections that make sense. IAAO would like to understand how members would group topics and what those groups would be named. The activity is online and shouldn’t take longer than 10 to 15 minutes to complete, and thank you for participating.
Rooms added at second hotel for conference
Registration for the 2024 IAAO Annual Conference, Aug. 25-28 in Denver, is open. Due to high demand, rooms are now available at the Grand Hyatt Denver.
The cutoff to reserve a room is July 31.
About 60 educational sessions are expected to be offered at the conference and attendees should have the opportunity to earn more than 10 credit hours. Former Denver Broncos running back and NFL Hall of Famer Terrell Davis will be the keynote speaker. Register here.
Time management topic of May 16 Launch Pad program
The Launch Pad Network will present a program on May 16 focusing on essential time management principles and practical strategies. Through interactive breakout room sessions, participants will explore prioritization techniques, effective planning methods, and goal-setting strategies.
Participants will leave equipped with actionable steps to enhance their time management skills and boost productivity in both personal and professional domains. Register here.
May 15 partner webinar is on ‘The Future
of Canvassing: Harnessing Data for Business Compliance’
Hear from a jurisdiction on how they’re revolutionizing the canvassing process, making themselves more efficient in identifying new and closed businesses, tracking compliance, and creating sample assessments.
The free webinar, by IAAO strategic partner Reason Consulting, is set for noon to 1 p.m. Central on Wednesday, May 15. Register here.
Registration open for mass appraisal symposium
The International Property Tax Institute and IAAO will present a joint virtual Mass Appraisal Valuation Symposium June 26-27, and registration is open. The theme of the virtual MAVS is “Challenges and Opportunities.”
Speakers from around the world will present on mass appraisal, emerging developments in valuation, technology and innovation, the use of data, property tax administration, leadership and ethics, and reviews and appeals. Full details on the programs are available here.
Registration fees for IAAO/IPTI members are USD $219/CAD $284. For nonmembers, the fee is USD $295/CAD $385. Register here.
IAAO to offer IEW at Annual Conference
IAAO is offering the Instructor Evaluation Workshop in August at the IAAO Annual Conference in Denver.
The three-day event will be offered before the conference at the Grand Hyatt Denver and is open to qualifying IAAO members.
Those who pass the IEW audition will be considered a junior IAAO instructor and will be able to teach in the live classroom. Apply here.
Board election info available; filing deadline is July 1
Members interested in running for the IAAO Board of Directors should submit candidate materials by July 1. Check out the Elections page on the IAAO website for more information and forms needed to submit.
A free webinar for those interested in becoming candidates is being planned for May 28. Stay tuned for details.
Regular members in good standing will be able to vote electronically from Nov. 1-15, for the Regular Board Member and Officer positions. Read more
Save the Date! International Research Symposium set for Dec. 4-5 in Amsterdam
The 2024 International Research Symposium has been set for Dec. 4-5 at the Kimpton De Witt Hotel in Amsterdam. Members are encouraged to save the date.
The symposium, sponsored by IAAO and the International Property Tax Institute, will include topics of interest to assessors around the world.
The IRS plans to showcase solutions taught by valuation and property tax practitioners that have tangible impacts on appraisal accuracy and efficiency.
Additional details on topics and registration will be announced shortly.
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IAAO Connect members are talking freeport inventory applications and exemptions. Read more
| AROUND THE INDUSTRY
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The dawn of build-to-rent homes amid U.S. housing challenges
With mortgage rates now above 7%, the supply of homes low, and demand remaining high — all according to a Zillow report — new homebuyers would need to make over six figures to afford a house.
The U.S. housing market's seemingly insurmountable barrier to entry has left younger generations resigned to rent for the foreseeable future, while some of the market has switched to a build-to-rent model. Read more
Map: Here’s Zillow’s updated house price forecast for over 400 housing markets
Despite 7% mortgage rates, strained housing affordability, and rising active inventory, national home prices continue to climb.
U.S. home prices, as measured by the Zillow Home Value Index, rose 1.1% month-over-month between February 2024 and March 2024.
This growth slightly exceeds what would be considered typical for that time of year. Read more
‘Perfect storm’: Property tax crisis threatens suburban Allegheny County school districts
Throughout Allegheny County, waves of mall owners, hoteliers, office park operators and big-box retailers are stampeding to slash taxes by challenging their property assessments.
But as property owners keep winning big breaks, they’re also creating big headaches. Read more
Maine philanthropist launches property tax relief fund for his community’s most vulnerable
Recognizing the pressing need to support the most vulnerable members of the Boothbay, Maine, community, Paul Coulombe has initiated a fund to alleviate the burden of property taxes through the establishment of a dedicated property tax relief fund.
The fund, to be overseen by the Community Resource Council (CRC), aims to provide critical assistance to seniors and other community members facing financial hardship. The Community Resource Council’s Director, Holly Stover said.
“With property taxes often posing a significant obstacle to financial stability, especially for those on fixed incomes, this initiative couldn't come at a more crucial time.”
By targeting property tax relief, Coulombe is addressing a significant household expense that directly impacts the quality of life for many individuals and families. Read more
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Chicago
• Permit Specialist, Cook County Assessor's Office See more
Rochester, Minnesota
• Appraiser/Appraiser Trainee, Olmsted County See more
Scottsdale, Arizona
• Director of Community Service, DC Ranch Association See more
Lincoln, Nebraska
• Revenue Division Manager (Property Assessment Division), state of Nebraska See more
Columbus, Ohio
• Appraisal Director, Franklin County Auditor See more
Titusville, Florida
• Sr. Director, Valuation Services, Brevard County Property Appraiser See more
Kissimmee, Florida
• Commercial Appraiser, Osceola County County Property Appraiser See more
Orange, Virginia
• Real Estate Appraiser, Orange County See more
Brighton, Colorado
• Regression Analyst, Adams 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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