Assessing Info Feb 21 2019

Why America's new apartment buildings all look the same >

These buildings are in every U.S. city. They range from three- to seven-stories tall and can stretch for blocks. They’re usually full of rental apartments, but they can also house college dorms, condominiums, hotels, or assisted-living facilities. Close to city centers, they tend toward a blocky, often colorful modernism; out in the suburbs, their architecture is more likely to feature peaked roofs and historical motifs. Read more

With Amazon out of New York, some lawmakers seek multistate ban on corporate tax breaks >

Lawmakers in at least a half-dozen states are considering forming a compact in which they would agree to end efforts to lure companies with tax incentives. Read more

North Dakota legislators ponder tax definitions of 'farmer' >

For the past century, North Dakotan farmers’ residences have been exempt from property taxes. The problem is that the current definition of “farmer” has made it “almost impossible” for most farmers to qualify, according to Sen. Jim Dotzenrod, D-Wyndmere. Read more

IAAO NEWS

+ Legal Seminar call for papers is open >

IAAO has set the 40th Annual Legal Seminar for Dec. 5-6 in Phoenix and the Legal Task Force is now seeking qualified professionals to present on topics of interest to lawyers and assessors. Topics will be considered from the following categories: unique valuation problems, effective representation, technology, public policy and ethics. Submission deadline for the 200-word abstract is March 31. Send submissions to Heather Steel (steel@iaao.org). Because of Mandatory Continuing Legal Education (MCLE) requirements, confirmed speakers must submit a completed written paper by Oct. 1. Read More

+ Nominations accepted for Awards, Fellow programs >

IAAO is accepting nominations through May 1 for its Awards Program and Fellows Program. The Awards Program boasts 17 categories recognizing individual and organizational achievements in several areas, including publications, technical expertise and service to IAAO. Award winners and Fellow selections are recognized at the IAAO Annual Conference. The Awards Program is a highly visible event and all IAAO members and affiliated organizations are encouraged to submit nominations. Fellow nominees are brought forth by the IAAO membership annually and submitted during the awards nominations period. Read more

+ LA IAAO County Spring Seminar is April 3 >

The Los Angeles County Chapter of IAAO is having the 2019 Spring Appraisal Seminar on Wednesday, April 3rd, at the Quiet Cannon in Montebello, CA. To request registration information, please go here.

+ Appraisal Standards Board OKs USPAP exposure draft >

The Appraisal Standards Board, an independent board of The Appraisal Foundation, unanimously agreed to move forward with a fourth exposure draft for the 2020-21 edition of the Uniform Standards of Professional Appraisal Practice (USPAP) at its recent public comment meeting in Scottsdale, Arizona. The ASB will issue the fourth exposure draft within the next few weeks and ASB will then announce the date and place for its next public meeting, where final adoption of changes for the 2020-21 USPAP is expected. Read more

+ Appraisal Foundation issues Valuation in Financial Reporting advisory on contingent consideration >

The Appraisal Foundation recently issued its fourth Valuation in Financial Reporting (VFR) advisory on contingent consideration. The purpose of this valuation advisory is to outline best practices in the valuation of contingent consideration, which is a technical concept that quantifies how expectations regarding certain future events impact the valuation of a future payment that is dependent on those future events. While this valuation advisory is voluntary, it provides business valuation professionals, and those who use their services, with reasonably consistent and supportable fair value conclusions. Read more

AROUND THE INDUSTRY

+ U.S. Supreme Court restrains states' power to seize property >

Constitutional protections against excessive fines and property forfeitures apply to states and localities in the same way they do for the federal government, the U.S. Supreme Court ruled Wednesday. Read more

+ Florida is drowning and condos are still being built >

People only tend to respond to immediate threats and financial consequences – and Florida’s coastal real estate may be on the cusp of delivering that harsh wake-up call. In 2016, Zillow predicted that one out of eight homes in Florida would be underwater by 2100, a loss of $413 billion in property. Read more

+ Amid rising global skepticism, the Swiss trust their government more than ever >

While many other countries across the world are seeing destabilizing populist movements negatively impact people’s trust in governance, the land of folk hero William Tell hasn’t seen such a shake-up — which may be helping the Swiss appreciate their form of popular representation and governance. Read more

+ New Detroit program allows monthly property tax payments >

Some homeowners in Detroit can set aside money each month toward their summer and winter tax bills instead of having to fork over the total amount at one time. Under the city’s new Plan Ahead program, homeowners without mortgage escrow accounts for property tax payments can make payments at their own schedules at DivDat kiosks located throughout Detroit. Read more