IAAO Research Exchange
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PAVE: The Connection Between Eliminating Bias and An Assessor\u27s Work
No full textAppraisal bias is a pervasive issue that contributes to the widening wealth gap in many communities of color across America. The average Black and Latino families have, respectively, one tenth and one-eighth of the wealth of the average White family. On June 1, 2021, the centennial of the Tulsa Race Massacre, President Biden announced the creation of the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) to address this issue head on by establishing a transformative set of actions to root out racial and ethnic bias in home valuations. During its initial phase, the Task Force heard from several tax assessors, many of whom emphasized the need for enhanced data sharing. Since that time, thirteen federal cabinet-level and independent agencies have released the PAVE Action Plan which, when enacted, represents the most wide-ranging set of reforms ever put forward to advance equity in the home appraisal process. Join this session to learn about appraisal bias, the work of PAVE, and the federal achievements already delivered and underway to increase the availability and diversity of appraisers, make federal appraisal data available, and to ensure that every American who buys a home has the same fair and impartial opportunities to build generational wealth through homeownership
The twisted tale of aging bourbon in Kentucky
No full textThis session explores the taxation of bourbon barrels in Kentucky, where it is centrally assessed tangible personal property with taxes collected and billed locally, as well as tax incentives for the bourbon industry
Assessing energy generation and transmission properties in a changing world
No full textOften the highest value properties in any municipality or county are energy generation and transmission facilities -- from power plants including natural gas, nuclear, and renewable energy facilities like hydro, solar, biomass and wind; to electric and natural gas transmission and distribution lines that span multiple jurisdictions over hundreds of miles. As the energy industry and policy makers facilitate the rapid transition to clean technologies and beneficial electrification, assessors are left trying to navigate rapidly changing energy markets, the assessment of new power plants and transmission lines, refurbishment and repowering of existing power plants, and the closure of large legacy facilities. In this presentation, we will: provide a high-level overview of the electric and natural gas industries; summarize recent policy and market changes, discuss the effect of climate change and beneficial electrification on assessed values, and explore strategies for how to successfully manage assessment appeals involving energy assets
Anatomy of a tax assessment defense: International Paper v. Isle of Wight County
No full textAn explication of International Paper, Inc. v. Isle of Wight County, Virginia
Fair + Equitable August 2023
No full textThe August issue cover story explores lawmakers in multiple states enacting major tax cuts despite slowing revenues.https://researchexchange.iaao.org/f-e/1011/thumbnail.jp
Fair + Equitable April 2023
No full textThe April 2023 issue cover story addresses how Owner Alert programs can help property owners protect their homes and commercial real estate from fraud.https://researchexchange.iaao.org/f-e/1015/thumbnail.jp
Ratio study practices in the United States, Canada, and the world: Results of the 2022 survey
No full textThis paper explores current practices and issues in ratio studies by comparing states, provinces, four nations outside North America, and a few local jurisdictions not subject to review by a state/provincial oversight agency in terms of frequency of studies, standards used to evaluate results, and final use of results. The report includes an introduction and a narrative discussion of responses and some trends since 1989, but focuses on the most recent changes. The report also offers tables and appendices showing key findings, tabulated responses, and the individual responses from each jurisdiction. In comparing responses to IAAO standards, the 2013 version of the Standard on Ratio Studies is the basis
Beyond the map: GIS, improving assessment operations
No full textThe GIS ecosystem, platform, infrastructure, or whatever you want to call it is growing and evolving and delivering more capabilities specific to assessors. Assessors don’t all assess the same way. Assessor regulations differ from state-to-state. Assessors don’t all use the technology the same way. This session will show how to take new GIS technologies that go beyond maps and integrate R and deliver graphs, charts statistics and dashboards and how to set them up for your specific needs
Implementing Automated Valuation Models (AVMs) in Absence of Reliable Transaction Data
No full textAutomated valuation models (AVMs) are predictive algorithms used to estimate market value based on property characteristics and market conditions. AVMs were first proposed over 100 years ago and have demonstrated an ability to achieve more efficient, accurate, equitable, and cost-effective valuations than alternative mass appraisal methodologies. Because AVMs are trained using transaction data, if data integrity is compromised (e.g. under-reported sales prices; missing, incomplete, inaccurate, or outdated fields), market value estimates will be inaccurate. Various constraints related to land cadasters, sales registries, data laws, and market transparency, have left governments outside of America, Canada, and western Europe at a disadvantage with regard to AVMs. This presentation will discuss methodologies and work flows to help overcome such constraints so the benefits of AVMs may be realized by more countries. Various research and country case studies (e.g. Moldova, China, Indonesia) as well as IAAO standards will be reviewed
Mapping the Road to Trust: Leveraging GIS Technology to Reduce and Settle Tax Appeals and Build Public Confidence
No full textJoin us in this engaging presentation as we delve into the realm of transparency in tax systems. Through the utilization of GIS technology, we can lower some of the burden of managing tax appeals, improve accuracy and enhance public trust by providing clear and accessible information. We will showcase how GIS tools can effectively visualize and communicate complex tax data, enabling citizens to understand the assessment process and have confidence in its fairness. Through real-world examples and best practices, we will explore how transparency in action can transform tax systems and create a more accountable and trusted environment