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Korpacz on Real Estate Market Trends 2010

Wednesday, November 17, 2010 1:00­2:30 pm CST




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The recession, we are told, ended in June of 2009. Fears of a double-dip recession have been replaced by fears of a new recession. A stubborn high unemployment rate and the lack of significant new jobs creates a cloud of uncertainty over the economic recovery, as well as the anticipated improvement in real estate leasing and transaction markets. Is the fear justified or is a turnaround about to kick in? Well-known author and real estate guru Peter Korpacz, MAI, CRE, FRICS, President of Korpacz Realty Advisors, delves into the state of the U.S. real estate market during the fourth quarter 2010. The content covered in this Webinar will focus on the overall economy and how it is affecting the office, retail, industrial, apartment, and hotel segments of the real estate industry at the close of the year. From this Webinar you will learn: · How the economy is doing now that the recession is behind us · Why new jobs are hard to come by · Which economic statistics might be signaling the start of a sustained recovery · Whether the leasing markets are stabilizing · Which markets show the most transaction activity and why · And, which direction cap rates are moving and where they will likely be in 2011

1.5 CEUs are being offered for this Webinar.

Peter F. Korpacz possesses more

than 47 years of experience in the real estate appraisal, counseling, publication, and research fields. Mr. Korpacz is a graduate of St. John's University (Queens, NY). Over the course of his career, he has been associated with Landauer Associates, Inc., as chief appraiser; Korpacz & Weitzman, Inc., as a principal, Peter F. Korpacz & Associates, Inc., as owner; PricewaterhouseCoopers LLP, as Director in the Global Strategic Real Estate Research Group; and as an Executive Managing Director of Weiser Realty Advisors. Currently, he is president of Korpacz Realty Advisors, specializing in litigation-support, including expert witness testimony. He is well known for cap rate studies and valuations of regional malls for tax appeals. Mr. Korpacz is the founder and original publisher of the quarterly Korpacz Real Estate Investor Survey®, one of the industry's standard sources of real estate capital market trends, including capitalization and discount rates and other cash flow forecast assumptions of active real estate investors. He was a principal researcher and advisor for the annual Emerging Trends in Real Estate® from the 2001 U.S. issue through the 2008 U.S. issue.

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November 2010 · volume 8, Number 11


2 25 8 9 13 14 22 23 26 7 14 17 19 21

Hospital Tax Assessment: More Hospitals to Hit Tax Rolls

Jack Randal Poteet

Cover Story


From the President's Desk From the Director's Chair Answers from AssessorNET Committee reports Legal Trends Member Communiqué Member Anniversaries Education Calendar Classified Ads Letter to Editor IAAO Celebrates a Milestone in 2010 In the News IAAO Rep of the Month--Rande Chmura, Town of Putnam, Connecticut Where Do You Read F&E?






The statements made or opinions expressed by authors in Fair & Equitable do not necessarily represent a policy position of the International Association of Assessing Officers.

Cover design by Chris Bennett

Fair & Equitable is published monthly by the International Association of Assessing Officers, 314 W 10th Street, Kansas City, Missouri 641051616. Subscription rate for members is included in annual dues. Nonmember subscriptions are $48 annually. Individual issues are $5 plus shipping and handling. Send address changes to: Membership Department, International Association of Assessing Officers, 314 W 10th Street, Kansas City, Missouri 64105-1616. Send all correspondence to the address above. Web site:




November 2010 · volume 8, Number 11

From the President's Desk

Bill Carroll

Dear IAAO Members, One of the most important events that has happened in recent IAAO history occurred recently in Kansas City. We had a note-burning celebration at Leadership Days on October 8. We paid off the 20-year mortgage on our Kansas City headquarters building after only 5½ years. It is an unbelievable accomplishment that IAAO members can be proud of. I am truly amazed at the sacrifices and dedication of our IAAO members, staff, and leadership for the benefit of our association and its members. My sincere thanks go out to all of you. Fall is a time of great activity at IAAO. In september and October, following a successful conference in Orlando: · WeofferedthefirstinaseriesofeducationalWebinars. · IhadtheopportunitytotraveltoBeijing,China,tomeetwithgovernment and university officials and to be a keynote speaker at their meeting. The trip to China was fascinating, with the promise of long-term benefits for IAAO, China, and the property tax profession being a real possibility. I want to thank one of our IAAO members, Michael Lomax, CAE, for playing such an integral part in my successful trip to China. Michael has been working there for more than three years in a consulting role, and he paved the way for me to be able to meet the Chinese leaders who will be the decision makers in China's future tax system. I would also like to thank Dr. Joyce Man, Peking University-Lincoln Center, for her leadership and hospitality. she is truly an outstanding individual who is passionate about seeing China implement a fair and equitable property tax system. There will be an article in the December F&E giving you more informationaboutthisimportantproject.IAAOismakingacommitmentto increase awareness of international property tax policy issues. staying in touch with key individuals and organizations around the world helps us to do that. · IalsoattendedtheInstituteofRevenue,RatingsandValuationAnnualConference(IRRV)intheUnitedKingdom.IRRVistheassociationofassessors in England, scotland, Wales, and Northern Ireland. The association has an outstanding conference education program and a keen competition for awards recognizingbestpracticesamongtheirlocaloffices.IwouldliketothankIRRV President,GeoffFisher,IRRVPastPresidentJulieHolden,andIRRVExecutive Director, David Magor, for their kind hospitality. · OtherIAAOrepresentativesattendedregionalevents.President-electBruce WoodzellvisitedtheLeagueofWisconsinMunicipalities.IAAOVicePresident Debbie Asbury spoke to the Iowa state Association of Assessors and Executive Board member Tom May, AAs, represented IAAO at the Minnesota Association of Assessing Officers Annual Conference. · AndtheExecutiveboardwillmeetinearlyNovemberforitsfinalin-person meeting of 2010. Among the ways that we provide benefits and services to our members is through the efforts of IAAO committees. Leadership Days was held October 8­9 in Kansas City. There committees met to coordinate plans that directly benefit the members of IAAO. I am thankful that we have such a strong group of volunteers within our organization. Their dedication and willingness to take time away from their families andjobstoworkforthebenefitofourmembersistobecommended.Iencourage other members to participate in our IAAO volunteer activities as well. Our membership retention rate remains at 94% or higher. That is an outstanding retention rate for any association. Once someone becomes a part of our IAAO family, they do not want to leave. I am proud to be a part of that family. Thank you for all you do for IAAO. With Kindest Regards,





November 2010 · volume 8, Number 11

President Bill Carroll ............................................. [email protected] President-Elect Bruce Woodzell [email protected] Vice-President Debra Asbury ................................... [email protected] Immediate Past-President Josephine lim.... [email protected] Executive Board Joe Bernard Hablinski, CAE [email protected] Dorothy Jacks, AAS ....................................... [email protected] Anthony (Sackey) Kweku [email protected] Martin D. Marshall .................................. [email protected] Thomas J. May, AAS ....................................... [email protected] James A. Michaud, CAE, AAS .................. [email protected] William A. (Pete) Rodda, CAE, RES [email protected] Michael Stone, AAS ...................................... [email protected] John B. Zimpel ........................................... [email protected] Michael Miano, Associate Member .............. [email protected] Editorial Review Board richard Almy; laureen birdsall, CAe; Chuck blow, CAe; larry J. Clark, CAE; Peter Crossett; Pete Davis; Alan Dornfest, AAS; David Ginsborg; Thomas Hamilton; lisa Hobart, PPS; Dean A. McQuown; Mark Mullet; Jack Pasternacki, CAE; Jeff Spelman, CAE; Ha Vu, CAE; William Wadsworth; Joan Youngman Executive Director lisa J. Daniels [email protected] Director of Publications & Marketing/Managing Editor Christopher [email protected] Designer Christopher [email protected] Editors Sandra Patterson ........................... [email protected] Barbara Simmons .............. [email protected] Advertising Representative Mario Gipson ............................................. [email protected] SubSCrIPTIoNS Subscriptions to Fair & Equitable are complimentar y for members of the Inter national Association of Assessing Officers. Nonmember subscriptions are available for $48 annually. For information on becoming a member, contact the Membership Director, at 816/701-8100 or [email protected] org. Further information is also available at ADVERTISING For display and classified advertisements, download individual advertising contracts at in the publications menu. Advertisements appearing in Fair & Equitable are paid and do not imply endorsement by IAAO of the products or services advertised. eDITorIAl SubmISSIoNS Send a Word or rich text format (RTF) file of your manuscript to Managing Editor, Christopher Bennett, at [email protected] A letter stating that the paper has neither been published nor is under consideration elsewhere must accompany the submission. REPRINTS Written permission must be obtained for reproduction or use of contents. exeCuTIve offICeS International Association of Assessing Officers 314 W 10th Street Kansas City, missouri 64105-1616 uSA 816/701-8100 · fax 816/701-8149 800/616-4226 ·

Bill Carroll



Cover Story

Hospital Tax Assessment: More Hospitals to Hit Tax Rolls

Jack Randal Poteet

The statements made or opinions expressed by authors in Fair & Equitable do not necessarily represent a policy position of the International Association of Assessing Officers.

Rapid changes are occurring in U.s. health care markets--expect more hospital assets to become taxable. hospitals typically involve massive capital investment in both real estate and tangible personal property. When hospital properties are under for-profit ownership or lose their tax-exempt status, they can represent a significant contribution to the community tax base. The addition of hospital assets to the tax rolls is good news for many communities that have experienced significant declines in other market sectors.

Hospitals: Expanding Tax Base

The expanding taxable hospital asset base is the result of conversions from tax-exempt to taxable ownership status, as well as a construction boom--renovations, expansions, and replacements--within the hospital sector (including the for-profit taxablehospitalsector)tomeetanticipatedmarketdemandfor hospital services. The most recent survey results published by the American Hospital Association (AHA 2010) show that there are about 5,010 community hospitals in the United states, in the following ownership classifications: · 982(about19.6percent)taxable,investor-owned,for-profit community hospitals · 1,105 (about 22.1 percent) state and local government tax-exempt community hospitals · 2,923(about58.3percent)nongovernment,not-for-profit, tax-exempt community hospitals. The number of taxable investor-owned hospitals is now increasing, as for-profit hospital corporations step up acquisitions of community hospitals owned by cash-strapped local governments as well as nongovernment, not-for-profit community hospitals, which under relatively tight credit market conditions are now at a disadvantage, compared with for-profit hospital corporations with access to Wall street equity capital.

Rapid changes are occurring in U.S. health care markets--expect more hospital assets to become taxable.

Thisarticleaddresses(1)therecentchangesinmarketconditions and dynamics driving the increase in taxable hospital assetsand(2)transactionalconsiderationsuniquetothehospital sector. Finally, it stresses the importance of accurate evaluation of going-concern hospital enterprise transactions and related price allocations in determining fair and equitable tax assessments for hospital properties acquired and converted from tax-exempt to taxable status.

Fair & Equitable · November 2010


Cover Story

Examples of investor-owned hospital by for-profit hospital corporations with corporations acquiring community hospi- access to Wall street equity capital. talsforconversionstofor-profit(taxable) Why are for-profit hospital corporations status in 2010 are as follows: now picking up the pace of acquisitions? · VanguardHealthSystems(Nashville, The answer: expectations of profits. Tennessee) acquisition of Detroit With the market already positioned to MedicalCenter(Detroit,Michigan), expand as baby boomers age, the recent including six hospitals reform of health care laws has substan· VanguardHealthSystems(Nashville, tially increased expected effective market Tennessee)acquisitionoftwohospi- demand for health care services. tals from Resurrection health Care (Chicago,Illinois) · CerberusCapitalManagement,L.P. (New York, New York) acquisition of Caritas (Boston, Massachusetts), including six hospitals · RegionalCare Hospital Partners (Brentwood,Tennessee)acquisition of Coffee health group (Russellville, Alabama),includingthreehospitals · LifePoint Hospitals (Brentwood, Tennessee) acquisition of Sumner Regional Medical Center (gallatin, Tennessee),includingfourhospitals · Community Health Systems (Nashville, Tennessee) acquisition of Marion County Medical Center (Marion,SouthCarolina),onehospital; Bluefield Regional Medical Center (Bluefield, West Virginia), one hospital; and Forum health (Youngstown,Ohio),twohospitals · HealthManagementAssociates(Naples,Florida)acquisitionofWuestoff HealthSystem(Rockledge,Florida), including two hospitals · HCA (Nashville, Tennessee) acquisition of Mercy hospital (Miami, Florida), a purchasefrom Catholic health East. These conversions from nontaxable to taxable status are expected to significantly increase over the next few years as a result of the dynamic interplay of various factors. With local government budgets expected to remain under stress, an increasing number of local government tax-exempt hospitals are looking to for-profit hospital corporations for capital solutions and funding. And, as previously indicated, nongovernment not-for-profit hospitals facing relatively tight credit markets will continue to be targeted for acquisition and other electronic medical record infrastructure. All of this takes capital and expertise. Many stand-alone hospitals and small nonprofit systems simply do not have the capital, expertise, or economies of scale needed to compete in the rapidly changing market. Yet their existing tangible and intangible assets often have substantial value in the marketplace as for-profit hospital corporations compete with one another to establish footholds in strategic markets, expanding hospital chain synergies. so, with 5,010 community hospitals in the United states, tax assessment professionals will be seeing a greater proportion of community hospitals shift to a taxable status. And consistent with industry trends, taxable hospitals will be engaging in increased levels of hospital renovation, expansion,andreplacementprojectsthat will add considerably to tax base market values.

These conversions from nontaxable to taxable status are expected to significantly increase over the next few years

as a result of the dynamic interplay of various

In addition, it is interesting to note that the Illinois supreme Court in a rulfactors. ing earlier this year eliminated the taxexempt status that had shielded Provena OnMarch23,2010,PresidentBarack Covenant Medical Center from tax liabilObama signed health care reform into ity. The tax-exempt status was revoked law: the Patient Protection and Afford- because the medical center was deemed ableCareAct(PPACA)asrefinedbythe not charitable enough. similar challenges health Care and Education Reconcilia- and revocations of tax exemptions are tion Act of 2010 was signed into law on possible nationwide. March 30, 2010. As a result, about 32 Based upon these powerful trends, million uninsured residents are expected tax assessment professionals are likely to to obtain health insurance, substantially be dealing with an increased number of increasing effective demand for health hospital tax assessments and related tax care services. To be competitive in the assessment appeal challenges. In that rechanging marketplace, health care ser- gard, it may be helpful for tax assessment vices must be delivered at greater ef- professionals to consider transactional cirficiencies, leveraging on investment in cumstances unique to the hospital sector. information technology and increasing the focus on transparency, accountability Hospital Sales Transactions: for outcomes, and quality of services. The Stakeholder Concerns--Taxable anticipated increase in patient volumes Status as Carrot presents the opportunity for greater agInvestor-owned, for-profit hospital corpogregate profits to those providers that sucrations are in business for one thing: to ceed in building new models for efficient make profits. To sustain the business long delivery of health care services. term, these corporations must present Key to success in the new evolving convincing business models to win over marketplace will be to rapidly transform key decision makers representing nonhealth care programs and networks; to profit hospitals targeted for acquisition. recruit additional physicians; to renovate, Transactional decisions are far more expand, and/or replace hospital real escomplicated from the seller's standpoint. tate; and to invest in telemetry systems Not-for-profit hospitals typically have a

4 Fair & Equitable · November 2010

broad array of stakeholders with various levels of influence over any proposed sale. These stakeholders may include citizens, citizen groups, patient rights advocates, physicians (with control over patient referralsandbusinessvolumes),employees of the hospital, local politicians, and hospital board members. From a seller's standpoint, stakeholders may raise opposition to a proposed deal. Citizens and patients rights advocates may have concerns about quality of health care under a for-profit hospital model. They may have concerns that for-profit hospital owners might extract money from the local economy--running the hospital as a business and sending profits to Wall street. Physicians may have concerns about professional autonomy, existing business agreements, and quality of patient care. Employees may have concerns aboutjobsecurity,pensions,andthelike.

against the deal. One inducement often presented by for-profit hospital corporations is that their taking ownership will result in a shift in property tax status from exempt to taxable. This is often an important incentive, particularly in communities that have experienced declines in other market sectors and whose local governments are under budget stress. however, after for-profit hospital corporations succeed in acquiring nonprofit hospitals, the new for-profit hospital owners typically move aggressively to minimize the tax assessment and related property taxes. This may be handled by in-house corporate staff or, more commonly, by property tax agents. With many millions of dollars in potential tax liability at stake, most for-profit hospital corporations are keen to minimize property tax exposure. The hospital corporations and their agents typically have the advantage over property tax assessment officers in terms of access to data and market information. After acquisition transactions that result in conversion from tax-exempt to taxable status, the for-profit hospital corporations or their agents may propose price allocations as a basis for property tax assessments. such price allocations may or may not reflect actual fair market values.

transaction, because this transaction is the pricing foundation from which price allocations to the tangible assets will be extracted. The going-concern transaction price and related price allocations to tangible assets may or may not be at actual market values. Although definitions of market value as usedbytaxjurisdictionsvary,theuniform Standards of Professional Appraisal Practice (TAF2010)indicatethattheconditions included in market value definitions generally fall into three categories: 1. The relationship, knowledge, and motivation of the parties (i.e., seller andbuyer) 2. The terms of sale (e.g., cash, cash equivalent,orotherterms) 3.Theconditionsofsale(e.g.,exposure in a competitive market for a reasonabletimepriortosale).

With many millions of dollars in potential tax liability at stake, most for-profit hospital corporations are keen to minimize property tax exposure.

From a seller's standpoint, support for a proposed deal may include concerns about financial viability of the institution and recognition that the key to keeping services available to the community may be to rapidly transform health care programs and networks; to recruit additional physicians; to renovate, expand, and/or replace hospital real estate; and to invest in telemetry systems and other electronic medical record infrastructure. Many stand-alone hospitals and small nonprofit systems simply do not have the capital, expertise, or economies of scale needed to compete in the rapidly changing market. so when nonprofit hospitals are proposed to be sold to for-profit companies, there typically is considerable debate and struggle between stakeholders for and

The going-concern transaction price and related price allocations to tangible assets may or may not be at actual market values.

Decisions to sell nonprofit hospitals are often delayed until after the onset of financial distress or after the filing of bankruptcy. Even if not yet bankrupt, hospitals perceived as being in financial distress may be trapped in a downward spiral because of lack of ordinary capital access, loss of physicians, patient census declines, and so on. These types of distressed circumstances and limited liquidity may result in conditions of sale that are essentially under duress. Therefore, motivation of the seller under such circumstances may be questionable in regard to market value condition 1 above. sales of hospitals under financial distress are often conducted under expedited conditions. such expedited conditions of sale are inconsistent with marketvaluecondition3above.Andthe terms of sale related to hospital transac-

Overview: Going-Concern Hospital Enterprise Transactions--Price Allocations for Tax Purposes

Tax assessment professionals are responsible for determining assessed values for various tangible assets related to for-profit hospitals. Yet, arm's-length transfers of rights related to such tangible assets typically occur only as part of greater goingconcern hospital enterprise transactions relating to a composite of three asset classes. These three asset classes are real property, tangible personal property, and intangible personal property and are typically sold in composite, with price allocations subsequently determined by agreement of the parties to the deal. To support an accurate tax assessment, it is necessary to be knowledgeable about and to evaluate the details of any goingconcern hospital business enterprise sale

Fair & Equitable · November 2010


Cover Story

tions are often complicated and may include an array of considerations and compromises related to hospital governance issues post-sale, assumption or defeasance of debts, and assumptions of other liabilities (in some instances, the assumption of unfunded pension liabilities). Such matters may bring into question cash equivalency issues or price allocation issues pertinent to market value condition 2 above. Therefore, when hospital-going-concern enterprise transactions and related price allocations to tangible assets are presented for tax assessment consideration, note that such transactions and related price allocations may or may not reflect actual market values. hospital going-concern enterprises are generally valued based upon income multipliers, that is, price based upon multiples of potential net patient revenue or earnings before interest, taxes, depreciation, and amortization. To accurately assess the market value of hospital properties, it is necessary to consider the potential stabilizedperformanceofthesubjecthospital going-concern enterprise under competent and capable management, which may be under a for-profit corporation model if such companies are active operators in themarket.Ifthesubjecthospitalreflected distressed conditions prior to sale, then an analysis of comparable peer hospitals may provide a more balanced view of the subjecthospitalvaluationundernormalized conditions. Under such conditions, the market values of the going concern and subcomponent tangible assets might be considerably higher than the pricing presented or allocated from distressed sale conditions. typically attempt to minimize tax assessments. Price allocations presented by forprofit hospital corporations may or may not reflect actual market values. When nonprofit hospitals are acquired by for-profit companies, an independent assessment of the transaction and market value parameters may assist tax assessment professionals in setting and defending fair and equitable property tax assessments.


American hospital Association. 2010. AHA Hospital Statistics 2010 Edition. Chicago: AhA. TheAppraisalFoundation(TAF).2010. uniform standards of professional appraisal practice. 2010­11 uSPAP. Washington, DC: TAF. Jack Randal Poteet, MAI, AsA, is principal of hospital Appraisal services, LLC, Overland Park, Kansas.


Rapid changes are occurring in U.s. health care markets--more hospital assets can be expected to hit the tax rolls. With many millions of dollars in taxes at stake, for-profit hospital corporations

Property Assessment Valuation, 3rd ed.

Property Assessment ValuProperty Assessment ation, 3rd edition, is an Valuation introductory text on assessment administration and property appraisal principles for assessment purposes.The3rdedition contains substantial updates on mapping, highest and best use, and personal property assessment. The International Association book supports the followof Assessing Officers ing IAAO courses: 101-- Fundamentals of Real Property Appraisal, 102-- IncomeApproachtoValuation,112--IncomeApproach toValuationII,201--AppraisalofLand,and500--Assessment of Personal Property. To order, go to and click on Marketplace, the IAAO online ordering system! Members $55, Nonmembers $65

Assessment Practices Self-Evaluation Guide, 3rd ed.

The Assessment Practices Self-Evaluation Guide, 3rd edition, has been written to assist candidates for the Assessment Administration specialist (AAS) designation, and jurisdictions seeking the Certificate of Excellence in Assessment Administration. It also can be used to document best practices in the office. The guide incorporates accepted standards of assessment practice in the publications and standards of IAAO and reflects the requirements of the uniform Standards of Professional Appraisal Practice(USPAP). To order, go to and click on Marketplace, the new IAAO online ordering system! Electronic version: Members $25, Nonmembers $50 Printed version: Members $45, Nonmembers $90

6 Fair & Equitable · November 2010

Letter to the editor

October6,2010 To the Editor: Before we comment on Tom hornig's editorial letter (F&EOctober,2010,p.25,Vol.8,No.10)regarding our article: Applying Logic, sound Assessment Methodology,andAppraisalTheorytoBillboardValuation, Journal of Property Tax Assessment & Administration(Vol. 7,Issue1,2010)wemustcomplimentIAAO. Tom's disagreement with our approach made us realize that our organization allows for discussing differing points of view, provides venues for education, and presents opportunities to offer and discuss ideas--even if we disagree on these ideas--all in a professional way. This promotes a better assessment community. We are an organization that is all about fairness, not advocating a particular point of view or advocating for a client. All of our assessment communities have tax fairness as the primary goal. so, kudos to IAAO and our assessment community--we are proud to be members. We certainly were not surprised to read a negative response to our billboard valuation article from a billboard company. Our suggested methodology, which is based solely on fair and uniform assessment practices, threatens the billboard companies' bottom line. It is also not surprising, but somewhat disappointing, to hear them advocate different valuation methods depending on what end of the payment spectrum they areon--onevalue(theincomeapproach)foreminent domain, but a completely different value and methodology(thecostapproach)forassessmentpurposes.Gone are the days when taxpayers at least paid lip service to paying their fair share of property taxes. Tom horning's response is one of misdirection. Yes, as lead attorney in the Adams case, he was successful in minimizing personal property taxes for his client in this case out of Madison, Wisconsin. What the reader must understand is that the victory was solely in the context of valuing billboards as items of personal property, not as real property. That context is most important because, in Wisconsin, items of intangible personal property are not taxable. Thus when the Madison assessor attempted to value the Adams billboard permits as personal property, the Wisconsin supreme Court ruled that, if the billboard permits were classified as personal property, then the value of the billboard permits would be exempt as intangible personal property. Acknowledging that the value of the permit is directly based on its location and that location factors represent real estate values--the court held that the billboard permits were not exempt personal property--but rather assessable real property and sent the case back to the lower courts for reconsideration. An important part of the ruling must not be lost in the discussion of fair taxation. The Wisconsin supreme Court clearly understood that permits are part of the real property and have assessable value. Unfortunately the court failed to give clear guidelines to the assessor on exactly how to assess the billboard permits as real property. Our methodology merely attempts to take the "permit-has-real-property-value" holding and incorporate it into a logical procedure to capture the value of theentireasset(thestructureandpermit)andtoinsure that the rightful owner is assessed for it. (an issue importanttotheWisconsinSupremeCourt) Eventually the Wisconsin supreme Court will decide whose interpretation is correct so there is no point to arguing it further here. But until we have more specific guidance from the court as to the mechanics of how to go about assessing the permits, we are statutorily duty bound to assess the billboard permits that the court ruled represent taxable real property. Most often, the facts are in dispute in these cases so we are happy when we do have an area of agreement. What we readily agree on with Tom hornig is that he is not an appraiser. Neither are Chris K. O'Neall nor Bradley R. Marsh, the authors of the article he cited. Like Tom hornig they are attorneys, advocates for their clients, something we as appraisers are forbidden to do. We can only be advocates for our assessments, that are based on treating everyone fairly. so we must be cognizant of the fact that if we give a large corporation or our friends and relatives a reduced assessment because we are an advocate for them, someone else, like the elderly person on $800 a month social security has to make up the difference in their fair share. Our article was meant to be a road map for other assessors; it is no surprise to us that the billboard company advocates reject it. We are all about fairness and we think our methodology enhances that goal and provides a mechanism for capturing the real estate value of the billboard permit in the assessment as mandated by the Wisconsin supreme Court. sincerely, Peter Weissenfluh Chief Assessor Daniel R. Furdek sr. Property Appraiser City of Milwaukee

Fair & Equitable · November 2010


Answers from AssessorNET

(Elks,Moose,AmericanLegion,VFW,etc.),churches,schools, cemeteries, and more. They pay no property tax unless they are sold to a for-profit entity or stop using the property. They file an initial request, and every three years they file a further statement. Pauline Iwamoto, Honolulu, Hawaii Disabled veterans (100 percent, combat-related as declared by Foranyjurisdictionsthathaveexemption/dedicationprograms theVA)areexemptedfrompropertytax,andtherearesome available for taxable real property, including historic residen- rules that go with this. We also have historic preservation and tial, historic commercial, agricultural, or any other type of real green acres exemptions that are granted and monitored at the propertythatenjoysthebenefitoflowertaxes,whatstandard(s) state level. of monitoring is/are employed to ensure compliance with the For farmland and woodland, five acres actively devoted to agexemption/dedication requirements? riculture or woodland gets a minimal assessment based on use. For example, if there is a 10-year exemption/dedication for TherearealsoabatementorPILOT(PaymentInLieuofTaxes) a property, after the initial review and site inspection, what programs for new construction or reconstruction in "areas in procedures are followed to ensure that the property remains in need of redevelopment" all over the state. compliance? Is there an annual review for each property or is I am sure that I forgot some, so hopefully other New Jersey there some other procedure? Do any of you review only those members on this list can supplement. properties for which a complaint has been received?

General Discussion List--Exemption/Dedication Programs


Any help will be greatly appreciated.

In Idaho, exemptions mostly are approved by the county commissioners. An annual process is contemplated by law. however, In Michigan, there is an exemption from paying school operat- although I am aware of some counties requiring annual appliingtaxesonprincipalresidences(homesteads)andagricultural cation and review, I am not aware of the detailed procedures, properties. For the Principal Residence Exemption, people and our agency, while having general oversight responsibilities, are required to show proof of residency (driver's license/voter does not have rules regarding this process. I suggest you contact registration,etc.)andaskedtoprovideproofofrescissionof afewspecificjurisdictionsasyourquestionreallyneedsquite principal residence if they had one anywhere else, including a lot of detail for any meaningful answer. If you want to pursue another state. this further, send me an individual e-mail and I will give you For agricultural properties, the county performs an agricul- contacts for Idaho counties that I know have dealt with this issue. tural study every year in which a random sampling by percentage is visually inspected in each township to see if they are actively in Bill Healey, Cumberland, Maine agricultural use. As a township assessor, I am "out in the field" In Maine, we have three current use programs that allow for a twice a week and often see the properties for myself. I also ride reduction in the taxable value of the properties enrolled: Tree along when the county inspects agricultural properties in my growth, Farmland, and Open space. The municipal assessor township. reviewsthepropertiesinhis/herjurisdictiononanannualbasis to determine eligibility. Also, the Farmland program has an annual income requirement that is audited every 5 years and the Shirley Ehrlich, Junction City, Kansas In our county, exempt properties remain exempt until they Tree growth program requires recertification from a licensed change ownership, or if we know for sure that the use has been forester every 10 years to verify that the property is being manchanged. In any case, new owners have to reapply for exemp- aged in accordance with a forest management and harvest plan tion. We also have industrial revenue bond properties that get on file. Please let me know if you would like copies of the law an exemption for generally a 10-year period. The companies for these programs.

A. Lisa Finch, Mecosta, Michigan

A. Alan S. Dornfest, AAS, Boise, Idaho



are required to report annually, and the city has to verify that those properties are still meeting their requirements. In addition, neighborhood revitalization properties receive rebates on their taxes; these are the real headaches.

Was your question answered using AssessorNET?

Let us know and we will share the answer with IAAO members in Fair & Equitable. send your question, and the answers that helped you, to Kate smith, [email protected] org. Be sure to tell us how you used the information. All questions and answers are reprinted with the permission of the participants.

A. Bernard C. Haney, Neptune, New Jersey

The great state of New Jersey is full of exemptions, abatements, and other creative programs. Exemptions include property owned by the government and not-for-profit groups

8 Fair & Equitable · November 2010

Committee reports

Instructor Relations Subcommittee

Robert P. Graham, II, AAS Chair Miles Anderson CAE, Roger McCarty; Linda Cwiek; Virginia Whipple, AAS; Gary Snyder; Jean Spiegel, Staff Liaison Continuing to define and refine procedures & policies, the Instructor Relations subcommittee: ing workshops continue to evolve as a vehicle to assist candidates in understanding their responsibilities as representatives of IAAO. In addition, these discussions assist andaffirmtheSeniorInstructorpanelastheyadjudicate and select the most promising candidates. The committee decided to place a participation cap of 15 on the number of instructor candidates that it will accept in 2011.

· Discussed and upheld the current policy that requires instructors to take and pass a course or workshop prior to August Dettbarn, Chair being authorized to instruct it. William Wadsworth; Gary McCabe, CAE; Patrick O'Connor; · Discussedaproceduretoexpeditethequalificationofin- Shawn Ordway; Ken Uhrich; Mary Odom, Staff Liaison structors to teach workshops and forums. several workshops At the 2010 conference, the first grant under the academic or forums are subtopics of week-long courses. With help partnership program was awarded to David West, of Cornell fromtheEducationSubcommittee(ESC),amatrixcould University, who under Katia Balassiano will be researching the be developed allowing instructors, who qualify for specific assessment of Land Trust Parcels within New York state. Land courses, to receive expedited approval on the correspond- trusts are a vehicle used by communities to create affordable housing by means of ownership and resale restrictions. Like all ing workshop/forum. · Completedthe2009instructorevaluationsandplanned new nontraditional appraisal/assessment assignments, there follow-up correspondence where needed. The committee currently is little published concerning descriptions of methods also reviewed instructor attrition and determined that the andprocedures.TheResearchCommitteethinksthisproject cadre of instructors is essentially in balance relating to those will lay a substantial foundation for the development of standardsfortheassessmentofaffordablehousingprojectswithin entering and those leaving the ranks. theinternationalcommunity.Projectprogresswasreviewedand · DetailedaprojectplantodevelopaWebinarthatwillbe plans are being made for presenting the research results at the used to qualify instructors for the CAE and REs case study IAAO 77th Annual International Conference on Assessment reviews. Administration in Phoenix next year. · Discussedthequalificationofout of country instructors and A listing of hot topics for future research projects and the decided that when IAAO credit is being sought, the materials academic partnership program has been developed from the must be presented by instructors who meet current qualifica- 2010 annual conference survey, requests made to the library, tion standards similar to an in-state instructor. and conversations with other committees. Two topics have been · Evaluatedtheresultsofthe2010InstructorTrainingWork- selected for research and development into papers by the comshop(ITW)recentlyheldinOrlando,Florida;twenty-seven mittee. The first topic concerns the generally accepted hypothindividualsparticipated;24wereinstructorcandidates;13 esisthatwhenthemajorsourcesofrevenueusedtofundlocal weresuccessful.Someofthese13willaccepttrainingassign- government are considered, property taxes in general are more ments to become National Instructors. In an associated mat- stable over time and predictable when compared to other taxing ter,acapof$1,300pertraineewassetonreimbursementsfor methods like income, sales, severance, and user fees. expenses incurred in the qualification of national instructors. The Research Committee will survey all 50 states and the Dis· Identified the additional requirements for an instructor trictofColumbiaforhistoricrevenueinformationfrom2006 to teach distance learning classes. Additional certification to present along with any local studies or reports. The local will be required to demonstrate competence in the interac- documents will be included as an appendix to the report. The tion with computer learning modules. Definition on how second research topic will look at the current state of Automated the classes will be offered will be needed from the EsC ValuationModels(AVM). before instructors can be solicited to facilitate the classes. During the next year the Certificate of Excellence in AssessThe IRsC requests representation on the EsC during this mentAdministration(CXAA)programwillbemarketedtothe important planning phase. membership in order to attract new applicants. The tracking · Initialplansforthe2011ITWwerelaidout.Thesetrain- system is being tweaked to ensure that existing certificate holders are reminded of deadlines for completing the recertification process and help the new applicants meet the submission goals. Related to the CXAA is the rewrite of the mapping chapter within the Assessment Practices Self-Evaluation Guide. Once the proposed changes have been made, the draft will be sent to the Technical standards Committee, Mapping and gIs section, and Professional Development subcommittee for comment. The committee is also planning to present three topics at the 2011 conference and is working on the abstracts. Two are appraisal-related topics (the Academic Partnership and the Foreclosure-Related sales analysis (using more foreclosures andGISdata)thatweplantopresenttogetherintheValuation Track and the property tax stability research which the committee would like to present in the Tax Policy Track.

Research Committee

Education Subcommittee discusses agenda with IAAO officers.

Fair & Equitable · November 2010


Committee reports

Heather Drake, CAE, RES, Chair Darwin Lee Kanius, CAE; Patricia G. Hedwall, CAE; Gregory J. Lafakis, CAE; Jeff Holsapple, CAE; Randy Ripperger, CAE; Wanda David McMullen, Chair Witthar, Staff Liaison Manuel Gallegos; John Taylor; Alan Dornfest, AAS; L. Wade PatterTheProfessionalDesignationSubcommittee(PDS)heldmeetings son; Rebecca Malmquist, CAE; Chris Bennett, Staff Liaison at the Fall Leadership Days in Kansas City on October 8­9, 2010. The Communications Committee met October 8­9 at LeaderThe subcommittee reviewed the current Professional Des- ship Days. ignation Advisor listing, and one additional REs advisor was The committee drafted a response statement to the U.s. Cenrecommended. This list will be sent to the Executive Board for sus Bureau providing input about the possibility of reviving the approval at its November meeting. Bureau's ratio studies and taxable values reporting programs. The PDs discussed the AAs case study exam because of conThe statement was submitted to the Executive Board for apcerns from candidates about some of the questions, in particular those pertaining to calculating or analyzing a coefficient of proval.

Professional Designations Subcommittee

Representatives from the committee met with representatives fromtheEducationSubcommitteetodevelopaprojectplan addressing this issue. In total, the committee will present six projectplanstotheExecutiveBoardinNovember.

Communications Committee

variation. The examination will be further reviewed by one of the subcommittee members who will recommend revisions to the rest of the subcommittee.

The subcommittee next discussed the grader Workshop, which is held at the annual conference. The subcommittee would like to move the workshop from sunday to one of the regularsessiondays(Monday,Tuesday,orWednesday).Attendance at the grader Workshop has been decreasing, and it was thought that moving the date would increase participation. The subcommittee met with the Conference Content Committee to put forward this proposal. It was suggested that it could bea3-hoursessionandberenamed"DemonstrationAppraisal Report (Grader) Workshop." In line with this, members also discussed updating the "guide to Real Property Demonstration Appraisal Report Writing." Randy Ripperger will work with Russ Thimgan on this. Assistant Director of Professional Development Wanda Musick Witthar reported on the status of the Professional Designation Program and provided charts and details on the program since 2008. There were 82 new candidates and 41 new designees in 2008;136newcandidatesand48newdesigneesin2009;and, to date, 75 new candidates and 27 new designees for 2010. Even with the current economic challenges, interest in the program continues. The subcommittee finished with a complete review of section 10 of the IAAO Procedural Rules on Professional Designations. A number of changes were proposed, and these will be drafted and forwarded to the Planning and Rules Committee for approval. Paul Welcome, CAE, Chair William Healey; Carol K. Judd; Michael Suley; Janice Olsson, RES; Wendel Ingram, Jr.; Karen Bushart; Robin Parrish, Staff Liaison The Membership services Committee addressed a full agenda during its meeting at Fall Leadership Days 2010. The optimism of the 2-for-$200 membership promotion was echoed by the committee as a potentially large membership tool that can be usedoverthenext6monthsinrecruitingnewmembers.Always looking for ways to market the association, Committee Chair Paul Welcome, CAE, led the discussion on ways of marketing the association by having staff and volunteer representation at the 2011 International City/County Management Association Conference. Another marketing venue discussed by the committee focused on Webinars and needed guidelines for development.

The committee discussed the status of the ongoing Property Tax Assessment Policies and Practices survey, which is in the final stages of interpretation prior to printing the results and interpretation in the Journal of Property Tax Assessment & Administration, which should be available in early 2011. The committee reviewed ways in which it could support the recommendations and initiatives of the special International Committee. An outline was drafted indicating potential actions that could be initiated by the Communications Committee, and it was forwarded to the International Committee for a final report and recommendations to the Executive Board. The Communications Committee presented results of the 2010 IAAO Communication Practices survey to IAAO Officers and made plans to present the information to the Executive Board and write an article about the results for Fair & Equitable. The committee interviewed several staff members and had discussions with officers about future updates to the Web site to improve its relevancy and usefulness to members.

Finally,thecommitteediscussedtentativeprojectsfor2011 pending funding discussions and direction by the Executive Board.

Conference Content Committee

Membership Services Committee

Kim Lauffer, RES, Chair Colleen Keene; Rick Kuehler; Ralph Di Febo, CAE, RES; Ken Voss, CAE; Lou Newman, RES; Marion Johnson, CAE; Marty Marshall, Board Liaison; Leann Ritter, Staff Liaison The Conference Content Committee had a very productive meeting during the IAAO Fall Leadership Days. Because this meeting followed so closely on the heels of the annual conference, committee members had a great opportunity to review the content and success of the 2010 conference and begin planning for yet another exciting conference for 2011. Discussions regarding the 2010 conference included review of speaker and presentation evaluations as well as the overall conference evaluations. The committee is pleased to report that the results of the member surveys for both conference content and overall conference indicate that the 2010 conference was a success in the eyes of the attendees. While making the initial plans for the 2011 conference, the Conference Content Committee had the opportunity at Leadership Days to speak with board members and other committees

10 Fair & Equitable · November 2010

to get input from them regarding their thoughts on the direction of the upcoming conference. The discussions with others included topics such as the plenary session, educational tracks and scheduling. The input was greatly appreciated. Further, the committee determined the educational tracks that will be offered at the 2011 conference. Once this was done, track descriptions were written with careful attention given to appropriately describing what each track will offer. A committee member was assigned to each track to serve the role of track manager. Members are encouraged to submit abstracts that will be considered for selection by the committee at the February meeting.

Technical Assistance Committee

Barry Couch, CAE, Chair John Thomas, CAE; Michael Lomax; Scott Winter, RES; Rick Stuart, CAE; Richard Petree, Larry Clark, CAE, Staff Liaison The Education subcommittee met during Leadership Days October 8­9, 2010, in Kansas City. The subcommittee approved submittingprojectplanstotheExecutiveBoardforitsNovember meeting.TheseprojectplansincludedwritinganAgricultural LandValuationworkshop,revisingcourses101"Fundamentals ofRealPropertyAppraisal"and102"IncomeApproachtoValu- Guilford Bulman, CAE, Chair ation" because of the recent rewrite of Property Assessment Valua- Robert Latham Harris, CAE; Kenneth Joyner, RES, AAS; John F. tion, and to revise the gIs for Assessors Workshop. Ryan, CAE; Mary-Louis Willett; Mark Perry, CAE; Larry Clark, The subcommittee agreed to reissue an RFP for the one-day CAE, Staff Liaison forum Appraising Commercial Real Estate in a Declining Mar- The UsPAP and Appraiser Regulatory Advisory Committee met ket with emphasis that this offering should focus on distressed at Leadership Days and discussed the following: properties and markets. · TheMassAppraisalTemplateiscompleteandreadyfor delivery to the Executive Board for approval at the NovemThe subcommittee spent some of Friday and most of saturday ber5boardmeetinginNorfolk,Virginia.Ifapproved,the discussing the IAAO online distance learning program. Two template will be made available to members through Fair vendors presented demonstrations to the group for informa& Equitable and the Web site. tional purposes. The remaining time was spent developing a long-termplanforthisproject.IAAOofficersalsoparticipated · ThecommitteediscussedtheAppraisalFoundation'snew in the discussions and provided much needed guidance. The Appraisal Practices Board. This board seeks input or sugsubcommitteedevelopedaRequestforInformation(RFI),that gestions based on IAAO's area of valuation expertise for will be submitted to the Board at the November meeting. The topics to be considered. This board is responsible for issuintent is to send the RFI to possible vendors to collect more ing voluntary timely guidance to appraisers on emerging information so the committee can finalize the required items valuation issues that are occurring in the marketplace. The to be included in a software and support system. This will then committee took no action. lead to the subcommittee ultimately selecting a suitable vendor · OurJulyresponsetotheSecondExposureDraftfromthe to provide software support so IAAO can provide its educational Appraisal standards Board of proposed changes to the offerings online. 2012­2013 USPAP revealed minimal effect on the mass appraisal, ad valorem tax profession.

Education Subcommittee

Peter Davis; Roland S. Ehm; Ronald D. Gibbs, CAE, AAS; Lisa Daniels, Staff Liaison During Leadership Days the Technical Assistance Committee refinedaprojectplantodevelopandpresentafour-hourorientation workshop for IAAO members who are interested in participating in technical assistance and performing consulting work for the organization. The first workshop should be ready for rollout in 2011. Offerings will be scheduled immediately before conferences and committee meetings to minimize costs. The committee will also be working with headquarters staff to design an online talent pool application form and resume template that members can access from the IAAO Web site. The committeehasbecomemoreinvolvedwithreviewingproposedproject plans and recruiting new talent. During the past year, additional projectroleshavebeendefinedforindependentreviewersand technical matter interns. This will provide more opportunities for IAAO members to demonstrate and refine their skills.

USPAP and Appraiser Regulatory Advisory Committee

· TheThirdExposureDraftwasreviewed. 1. The proposed Communication Rule will not be includedinthe2012­2013editionofUSPAPbecauseoftime constraints. Comments revealed that there is a broader recognition of appraiser obligations in communicating the results of appraisal assignments. We should continue to monitor this issue and respond when it is exposed again. 2. The AsB is considering retiring standards 4 and 5, Appraisal Consulting Development and Reporting. Comments from appraisers indicate that these standards are not necessary and that an appraisal assignment that includes consulting may be performed under other standards.

Gil bulman, CAe, from Spartanburg, SC, and lou Willett from Portland, oregon, met halfway in Kansas City to carry on the work of the uSPAP Committee.

Fair & Equitable · November 2010


Committee reports

3. RevisionstoStandards7and8,PersonalPropertyAppraisal Development and Reporting, are under consideration. A Personal Property Task Force was appointed by the AsB to assist in reviewing these two standards, and the AsB is proposing significant changes. highest and best use considerations, volatility of markets, availability of data, and the ability to identify specific items have been addressed by the task force. substantial changes will be made, and they should be monitored by those who appraise personal property. IAAO members will be affected. With approval by the Executive Board, the committee will submit a response to AsB indicating the proposed revisions are acceptable to IAAO. Paul Welcome requested review of Advisory Opinion 32 to recommend clarification of illustration number 3. The committee saw no reason to recommend a clarification. however, in an effort to recognize the importance of the scope of work as determined by the appraiser, and to offer another example of aspecificuseofStandard6,thecommitteediscussedarecommendationtoamendAdvisoryOpinion32. ThecommitteerecommendsthefollowingadditiontoAO32: If an appeal is filed on a single-property assessment developed under Standard 6, what development standards apply for the assessment jurisdiction that developed the property assessment? Because the single property assessment is included in the universe of properties appraised by the mass appraisal model, Standard 6 applies. If the scope of work established between the appraiser and client includes only Standard 6, compliance with additional Standards is not required. This would need Executive Board Approval to pursue to the Appraisal standards Board. n

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12 Fair & Equitable · November 2010

Legal trends X

Recent litigation and legislation affecting property taxation

News from Across the Nations


County property appraisers, by executive order of the governor, are now permitted to conduct interim assessments of properties damaged by the Deepwater horizon oil spill. The valuations are intended to assist homeowners in proving their claims against BP without the expense of a private appraiser. These interim assessments will not change a property's 2010 tax liability, which will still be based on the property's value on the statutory assessment date of January 1. Property appraisers are authorized by the order to seek reimbursement of the costs incurred for these reassessments from BP. (Office of the governor, Executive Order 10-169, July21,2010)


A school board that met in executive session with a group from a commercial taxpayer to discuss a property tax appeal was in violation of the state's sunshine law, an appellate court has ruled. A media company brought the suit after its reporter was denied access to the meeting. The school board claimed the closed-door meeting was proper because the statute specifically permits the board to conduct private sessions to consult with its attorney (who also was present)onmattersregardinglitigation.Thestatutefurtherallowstheboardtoadmitto executive session "those persons necessary to carry out the purpose of the meeting." The board claimed the private meeting with the taxpayer group facilitated its ability to negotiate a settlement and to explore alternative means of dispute resolution. The taxpayer's attorney, however, was not in attendance. The court stated that the statute's use of the words "consult with" rather than "discuss" indicated the legislature's intent "to facilitate the confidential exchange of views" between a governmental agency and its counsel on pending litigation. such private meetings served the public interest, the court said, because if information about an agency's litigation strategy or the amount of its potential settlement offers were to become public, it would damage the agency's ability to successfully conduct its case. however, nothing in the statute, the court continued, indicated that opposing parties in litigation were permitted participants in the act of seeking legal advice. In fact, by including representatives of the taxpayer, the court said, the board compromised the confidentiality oftheattorney-clientexchangethatjustifiesholdingaclosed-doorexecutivesession.Ifthe board's intention at the meeting was to conduct settlement negotiations, it should have instead followed "the established and acceptable practice" of sending its attorney for settlement discussions with the taxpayer's representatives with any settlement agreed upon presented to the board for deliberation and approval. (Trib Total media, Inc. v. Highlands School District, Commonwealth Court of Pennsylvania, No. 1588C.D.2009,August5,2010)


A company's arguments to spare its spare-parts inventory from annual taxation as personal property failed to persuade the Arizona tax court. First, the taxpayer contended, the items were "capitalized spare parts." According to the company's internal records, the argument went, only some parts were expected to be used within the year while others would be needed less frequently. The parts' anticipated use cycle, the court stated, was irrelevant to their taxation. As provided in the Department of Revenue's personal property manual, spare parts are considered supplies to be reported each year for taxation, the court explained. Nothing in the definition addresses how quickly a part must be used or specifies whether it be used in one year. The only circumstance under which the spare parts would not be taxed, the court noted, was if they were purchased as part of an equipment package and included as part of the total purchase price. second, the company contended, the parts were overvalued because the cost shown on the company's books, which was used in the assessment, included a capitalized interest cost. This interest expense, the product of an inter-company transaction with its parent company, was, in the taxpayer's own words, "a fiction." It did not represent an actual payment of interest or signify an obligation to pay. For a valuation error to be corrected, the court said, the relevant statute requires informationthatis"objectivelyverifiablewithouttheexercise of discretion" and "demonstrated by clear and convincing evidence." The company's "inherently unverifiable assertion" that some portion of the book value of its spare parts, "known only to it," constituted fictitious interest hardly rose to the level of a material fact necessary to prove the existence of a valuation error. (Omya Arizona Inc. v. Pinal County, superior Court, Maricopa County,No.TX2007-000214,August9,2010)

Fair & Equitable · November 2010


Member Communiqué

IAAO Celebrates a Milestone in 201 0

n Friday, October 8, IAAO committee members, staff, and officers met at IAAO headquarters to celebrate a momentous occasion--paying off the mortgage on the IAAO headquarters building. The action was taken at the recommendation of the Budget Committee chaired by President-Elect Bruce Woodzell. Bruce said, "when the Budget committee met in July, one of our many considerations was retiring the mortgage on the Adler Building. InlateAugust,duringtheAnnualBusinessMeetingatthe76th After carefully considering the amount of interest IAAO was earnAnnual International Conference on Assessment Administration ing on it's investments, the amount of funds designated as surplus, in Orlando, Florida, IAAO President Bill Carroll announced and the total amount of interest due on the life of the loan, the plans to pay off the mortgage. Paying off the loan puts IAAO committee voted to recommend to the Executive Board that the in a strong position for the future by minimizing its debt and mortgage be paid-off. The Executive Board vote was unanimous. Thanks to everyone that made this action possible. What a freeing up funds that would otherwise be spent on substantial interest payments. The funds that are saved can then be used majoraccomplishmenttoaddtotherichhistoryofIAAO." forotherprojectsthatbenefitIAAOmembers. The mortgage note was held by Bank of America with the starting date of the note being February 25, 2005. The original mortgage amount was $1,200,000 and it was a 20-year note. It was paid in full on september 24, 2010 with a final payment of $452,477.74 According to Executive Director Lisa Daniels, "since coming to IAAO six years ago, one of my main goals was to strengthen our financial footing. Paying off our mortgage not only serves as evidence that what we're doing is working, but also helps us even further to build a strong, debt-free financial Ashes are all that remains as IAAO closes 2010 with a wholly owned headfuture for IAAO." quarters building. President Bill Carroll said, "I am extremely proud of our members, our leadership, and our staff for having accomplished such a big achievement in so littletime.Thisisjustanotherindicationofthecompletededication of our members to IAAO. Their sacrifice and service for each other is incredible. I am thrilled to be a part of such an outstanding group."


President bill Carroll holds the mortgage document while lisa Daniels lights it with cheers from onlookers.

Spontaneous cheers erupt as the mortgage document burns in the streets of Kansas City at dusk.

14 Fair & Equitable · November 2010

Attending the chili cook-off (l to r) Ken voss, CAe, Colleen Keene, linda Cwiek, marty marshall, rick Kuehler, lew Newman, reS, and ralph DiFebo, CAe.

(l to r) President-elect bruce Woodzell, vice President Debbie Asbury, Ken uhric, and Pat o'Connor enjoy a wonderful evening after a long day of committee meetings. building. Onlookers gathered for the historic occasion as cameras were flashing and video was recorded. The honors were done by President Bill Carroll with assistance from Executive Director Lisa Daniels. The mortgage-burning event was held in conjunction with another momentous event, the 4th Annual IAAO staff Chili Cook-off. guests were treated to a wide selection of chili recipes--all artfully concocted by IAAO staff members. guests tasted small samples of chili and thenjudgedtheresultandsubmittedbal-

(l to r) Administrative Director Angela blazevic, AAS, lisa Daniels, Heather Drake, CAe, reS, and Darwin Kanius, CAe, review their chili votes in a relaxed atmosphere. lots with their choice. There was plenty of good-natured discussion about what constitutes an authentic chili versus imitation chili and whether various artistic interpretations fell within the boundaries of chili "best practices." The competition was "hot" (pun intended).Thejudgeshadadifficulttime choosing a winner and had to sample the choices numerous times before reaching a decision. Once the vote was in, the winner was Aaron Weatherford of the Membership Department for his sergeant slaughter Chili. The recipes covered the gamut from traditional beans and beef chili to more interesting variations such as "Not Your Mama's Chili." Once the ranks of the chili mavens had been whittled down, Aaron, the winning chili guru, had the opportunity to share at least part of the "secret recipe." "There is nothing secret about it,chilirequireschilies,andIjusthappen to grow some of the world's hottest chili pepper varieties in my backyard." Besides the festive activities mentioned above, committee members were in Kansas City to attend Leadership Days, a twiceyearly meeting held in the spring and fall. Committees gather for two full days todiscussprojectplansandboarddirectives, and to coordinate with staff activities and the activities of other committees. Committees are an important volunteer component of IAAO that substantially serves members by directly or indirectly evaluating and improving the benefits and services that the organization offers. For more about Leadership Days, see page 9 for a summary of individual committee activities.

roger mcCarty, miles Anderson, CAe, manny Gallegos, and marty marshall compare notes on their favorite chili. Administrative Director Angela Blazevic, AAs, added, "The fact that we were able to do this in such a short period of time speaks volumes of the dedication that our members and staff have for our organization!" The occasion was joyfully observed by having a mortgage-burning ceremony, held at a discreet distance outside the front door of the newly owned headquarters

Aaron Weatherford displays the Championship belt as he assumes the title of Chili Cook-off Champion until next year.

Fair & Equitable · November 2010


Member Communiqué

Don't forget to vote!

IAAO Executive Board elections end November 30 at midnight.


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Seminar Overview

· What'sBeenGoingonSinceWeLastMet Recent Developments in Real Property Taxation Procedural, Substantive, Exemptions General Discussion: Cases of Note in Your Jurisdictions · EffectiveRepresentation Selecting Various Expert Witnesses Cross Examination Redirect Examination · UniqueValuationProblems Low Income Housing Tax Credit (Section 42) Projects Complex Industrial Properties: Power Plants, Ethanol and Chemical Facilities, and Steel Mills Billboards · EthicsandPublicPolicy The 2000s: A Decade of Change in Indiana Assessment Policy Blurring the Lines: "The Ethical Horror Picture Show"

16 Fair & Equitable · November 2010

In the News

Property Tax Exemption

Nine Pastors lose Property Tax exemption (published October 5, 2010) by KATv The Spirit of Arkansas Article discusses whether parsonages in Pulaski County, Arkansas, are taxable. The residences were put back on the tax rolls in order to let the courts decide the issue. For more information, go to:

Property Tax Burden

The Highest Property Tax Burdens in America (published October 4, 2010) by Catherine rampell, The New York Times Article discusses the highest property tax burdens in the United states as calculated using various methodologies. New York and New Jersey consistently ranked high in overall property tax burden using the various calculations. For more information, go to: the-highest-property-tax-burdens-in-america/?src=busln

Tax Caps

Indiana voters to decide property tax amendment (published October 5, 2010) by Article discusses a November vote by citizens of Indiana to adopt a constitutional amendment to permanently cap homeowner taxes. A cap is currently in effect as a state law. If passed it would mean that local governments would have to make up lost revenue in other ways. For more information, go to:

Declining Revenue

Governments cut jobs, benefits to avoid raising taxes (published October 4, 2010) by ludmilla lelis, orlando Sentinal Article discusses cutbacks by Central Florida local governments to make ends meet rather than raising property taxes. For more information, go to: os-property-tax-hikes-budget-cuts-20101004-1,0,3206551.story


Residential property tax "necessary" for healthy market: ministry (published October 1, 2010) by China Daily Article discusses the introduction of pilot programs to tax owners of multiple residences in China and other measures to reduce speculative buying in a run away property market. For more information, go to: content_11372577.htm

School Funding

Ballot measure would cut property taxes, school funding (published October 5, 2010) by Joe Hanel, The Durango Herald ArticlediscussescontroversialAmendment60inColoradothat would overturn a 2007 law that allowed higher property taxes in order to reduce reliance by local school districts on state funding. For more information, go to: Ballot_measure_would_cut_property_taxes_school_funding/ State Board of Education mulling statewide property tax for charter schools (published October 2, 2010) by molly Farmer, Deseret News Article discusses Utah state Board of Education proposal for a statewide property tax to fund charter schools that are currently funded by local school board allocation of local tax revenues while the state makes up the difference from its general funds. For more information, go to:

Property Tax Assistance for Low-Income Seniors

Governor vetoes property-tax help bill, signs similar bill (published October 4, 2010) by Jim miller, The Press-enterprise Article discusses veto of tax loan program for low-income seniors and the disabled by California governor Arnold schwarzenegger. schwarzenegger then signed a bill providing loan asistance for participants in a clean energy program. For more information, go to: proptax05.2c1f38f.html

Fair & Equitable · November 2010


2010 Presidential Citations

President Bill Carroll recognized eight individuals with presidential citations at the 2010 IAAO International Conference on Assessment Administration: (top, l to r) Paul Welcome, CAE, MartinMarshall;(middle,ltor)Kellianne Nagy, CAE, Linda Cwiek, Carol Kuehn; (bottom,ltor)JimTodora,CAE,Angela Blazevic, AAs, Marion Johnson, CAE. Congratulations to these individuals on this special recognition.

New Members

California Steven C. Kerhart Iowa Shari Plagge Kentucky Ruth Middleton Maryland Susan Arrowsmith

For a membership application, visit and click on Membership

Michigan Velore Y. Brown Minnesota Adrienne Garcia New Mexico Deanna "Dee" S. Robinson Cheryl J. Winfield North Carolina Ramon T. Revilla

Oklahoma Jennifer Frank Shannon Largent Pennsylvania Randy Paul Brougher Texas Danielle Francois Jordan T. Wise

Utah Ronald Merrill Virginia Christine Marie Johnston Washington Gregory Damico Wisconsin James S. Murphy

18 Fair & Equitable · November 2010

IAAO Rep of the Month--Rande Chmura, Assessor, Town of Putman, Connecticut

Duringher30-someyearsintheassessment profession, Rande Chmura has served the Connecticut towns of New Fairfield, New Milford, suffield, and Putnam. Now, as she closes in on her 25 years as a member of IAAO, she reflects on the multiple capacities (numerous committees, IAAO Rep, Executive Board)inwhichshehasservedthe association and the profession. "My most memorable experience was serving on the IAAO Executive Board. Being a Board member was a tremendous amount of work, yet very satisfying and the two years flew by. I was impressed with the great diversity of the board members and it never ceased to amaze me how hard everyone worked together for the betterment of this organization. I have grown professionally from my involvement in IAAO. I have gained time management and organizational skills that I put to use in my own office. I have gained confidence that I did not possess prior to serving on the Executive Board." Rande's husband, Fred Chmura, AAs, served as President of IAAO in 2004. she says. "he encouraged me to become involved in IAAO, and I'm pleased that I did." she adds that though her jurisdictionhasneverpaidforhertoattendtheannualconference, that doesn't stop her from going. "I find the information I learn at conference is worth every penny I have spent. I have met folks from all over North America that I now proudly call my friends. I look forward to conference to see friends whom I see only once a year. Anytime you put a thousand assessing professionals together for a conference, it is always a learning experience." SincejoiningIAAO,Chmurahasonlymissedoneconference (in1985)duetoherhoneymoon!Randeispassionateabout cooking and baking--her apple pie and yeast breads have won blue ribbons at local fairs. Rande and her husband, Fred, live on a small lake in Connecticut,wheretheyalsoenjoysailingandkayaking.

"I want to encourage everyone, no matter what size jurisdiction they work in, to get involved in IAAO at some level. Serving on a committee can be a very rewarding experience."


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Earn your IAAO Designation

Are you seeking to demonstrate your competence through your educational accomplishments? An IAAO designation is the highest testimonial to personal achievement in the assessing field. Find out more about the value of an IAAO designation. Contact IAAO headquarters for more information and a candidacy application.

An Introduction to the Cost Approach to Value An Introduction to the Income Approach to Value An Introduction to the Sales Comparison Approach to Value Mass Appraisal of Residential Property Commercial Case Study Review Site Analysis IAAO Standards of Professional Practice and Ethics


Call 816/701-8100 ·



u u u

See the IAAO Marketplace

Fair & Equitable · November 2010


Member Communiqué

IAAO Technical Assistance Program Provides a Much Needed Service to Jurisdictions

IAAO has been providing technical assistancetojurisdictions,states,andeven entire countries for nearly half a century. Technical assistance is a very valuable, but less visible, service provided by IAAO. The Technical Assistance Program assembles teams of experts in all aspects of the assessmentprocesstoassistlocaljurisdictions in solving complex problems. This past year, the Technical Assistance Committee was formalized as a standing committee of IAAO. Led by Chairman Pete Davis, the Technical Assistance Committee has continued work begun a few years ago to give more structure to the Technical Assistance Program. Pete, along with Ron gibbs, CAE, AAs, of Arizona and Rollie Ehm of Iowa are looking at the nuts and bolts of the program and deciding where updates and changes may be necessary. Often IAAO headquarters is first contactedbyjurisdictionsandstateoversight agencies in need of immediate help. It's not uncommon for the chairman of the Technical Assistance Committee to have a lengthy discussion with the inquirer to get to the core of the problem at hand. From that point forward, the committee can considerwhethertheprojectisagoodfitfor IAAO or whether the issue is best referred to another vendor. should they decide to move forward, the committee, the Executive Director, and prospective client can begin to formulate a potential scope of work to address the issues, with the typical outcome being a formal report to the client, usually a county commission, city council, or some other authoritative body. headquarters and the report is then readied for presentation to the client. It's not difficult to engage IAAO for technical assistance. It all begins with a telephone call to the Executive Director at IAAO headquarters. From there, the Technical Assistance Committee becomes involved, and the inquiry moves forward. NoteveryprojectisagoodfitforIAAO, and the committee doesn't hesitate to refer clients to other more suitable vendors when that occurs. how much does it cost?Projectsarepricedbyestimatingthe number of hours of consultation that will be necessary, along with travel expenses, overhead, report preparation, and review. A minimum project size of $30,000 has beenestablished,andprojectscancostas much as hundreds of thousands of dollars, depending on their complexity.

IAAO Technical Assistance Past Clients

· virginia · Pennsylvania · Texas · missouri · Kansas · oklahoma · Illinois · michigan · Georgia · Tennessee · New mexico · massachusetts · manitoba · ontario · Arizona · West virginia · united States · Canada · Japan · former Communist eastern European Countries · Northern Ireland · england · u.S. Department of Agriculture · Connecticut Department of Revenue Services · florida Advisory Council on Intergovernmental Relations · Arizona House of Representatives · u.S. Department of Housing and urban Development

WhydojurisdictionscometoIAAOfor assistance? In a word, reputation. They can appreciate that a report authored in the name of the International Association of Assessing Officers has been carefully researched, written, and reviewed by experts in the profession. how do you know if you could use IAAO's technical assistance? sometimes it's an ongoing problem that needs to be addressed or a question that needs to be answered. Often it is an assessor needing support for issues he or she already knows exists. An administrative auditcanconfirmforajurisdictionthat the city or county is ill-equipped for success, with too few staff, outdated equipment, and software systems inadequate to the task at hand. While the assessor Technical Assistance projects can be may be well aware of this, it can be diflarge or small. They can involve as few ficult or impossible to get their concerns as one or two site visits or extend over addressed. Often the technical assistance multipleyears.Theprojectsmayinvolve offered by IAAO simply affirms what the a single consultant (by requirement they assessor already knows, but it comes from arealwaysIAAOmembers)orafullteam an outside authoritative source. representing different skill sets. Once the The goal of technical assistance is to appropriate data have been gathered, help find workable solutions through the report writing begins. Reports are re- improved assessment practices. If your viewed by individuals not associated with jurisdiction,state,orsomeoneyouknow theprojectforpossiblesuggestionsand is in need of IAAO technical assistance, clarifications. Editing takes place at IAAO please call IAAO headquarters.

20 Fair & Equitable · November 2010

Where Do you read FAIR



IAAO accepts digital photos of interesting or unusual properties, for "Where Do You Read F&E?," and photos of local jurisdiction activities and meetings. Please provide full contact information with your submission. Send photos to [email protected]

After attending the annual IAAo Staff Chili Cook-off, IAAo committees members, staff, and officers stepped outside IAAo Headquarters in downtown Kansas City to read F&e. Next they celebrated paying off the building loan by participating in a mortgage-burning ceremony. IAAo members are invited to stop by headquarters to read F&e, tour the facility, and meet staff at any time.

IAAo Conferences, Seminars, and Meetings

EVENT Planning & Rules Committee 31st Annual Legal Seminar Executive Board Meeting Leadership Days Meeting 15th Annual GIS/CAMA Technologies Conference Executive Board Meeting Executive Board Meeting IAAO 77th Annual International Conference on Assessment Administration Leadership Days Meeting Executive Board Meeting 32nd Annual Legal Seminar IAAO 78th Annual International Conference on Assessment Administration IAAO 79th Annual International Conference on Assessment Administration IAAO 80th Annual International Conference on Assessment Administration Kansas City, MO Chicago, IL Kansas City, MO Kansas City, MO Memphis, TN San Diego, CA Minneapolis, MN Phoenix, AZ Kansas City, MO Savannah, GA New Orleans, LA Kansas City, MO Grand Rapids, MI Sacramento, CA LOCATION DATES December 3­4, 2010 December 9­10, 2010 January 21­22, 2011 February 11­12, 2011 February 28­March 3, 2011 April 15­16, 2011 July 22­23, 2011 September 18­21, 2011 October 14­15, 2011 November 11­12, 2011 December 8­9, 2011 September 9­12, 2012 August 25­28, 2013 August 24­27, 2014

Member Anniversaries--November

5 Years

Glen Blood, Oklahoma Tax Commission, Ad Valorem Division, Oklahoma City, OK Laura Blossom, Yotta MVS, Emporia, KS Ray W Browning, Savage and Browning, LLC, Overland Park, KS Mack Bushart, Kentucky Property Valuation Administrator's Association, Winchester, KY Lisa Carroll, City of Salem, Salem, VA Beverly W. Church, Henrico County Assessment Division, Richmond, VA Frank P. Colon, East Brunswick Township, East Brunswick, NJ Brenda E. Cummings, City of Bath, Bath, ME Brendan Douylliez, Cook County Assessor's Office, Chicago, IL Margaret R. Ford, Charter Township of Monitor, Bay City, MI Troy Frazier, CMS, Oklahoma Tax Commission, Ad Valorem Division, Oklahoma City, OK Judith A. Goodyer, Town of Sand Lake, Sand Lake, NY Robert L Gordon, Michael Best & Friedrich, LLP, Milwaukee, WI Jay Graber, Apex Software, San Antonio, TX Adrianna S Hedwall, Town of Ledyard, Ledyard, CT Betty M. Henson, Cook County Assessor's Office, Chicago, IL Paul A Hopkins, Town of Ledyard, Ledyard, CT Mike Isbell, Oklahoma Tax Commission, Ad Valorem Division, Oklahoma City, OK James D. Mauney, JD Mauney & Co, Dallas, TX John F. McDonnell, Cook County Assessor's Office, Chicago, IL Patrick J. McNerney, Mayer Brown LLP, Chicago, IL Lavdim Memisovski, Cook County Assessor's Office, Chicago, IL J. Bradford Nixon, Walker Poole Nixon, LLP, Toronto, ON, Canada Lauren A. O'Sullivan, Town of Wellesley, Wellesley, MA Michael W. Prestridge, Orange County Property Appraiser's Office, Orlando, FL Lydia G. Ramos, Cook County Assessor's Office, Chicago, IL Larry Rawlings, Oklahoma Tax Commission, Ad Valorem Division, Oklahoma City, OK Jacob Schrinel, Henrico County Assessment Division, Henrico, VA Melissa S Stewart, Los Angeles County Assessor's Office, Los Angeles, CA Teresa Strawther, Oklahoma Tax Commission, Ad Valorem Division, Oklahoma City, OK Thomas E. Sweeney, Katten, Muchin, Rosenman, LLP, Chicago, IL Deborah A. Turner, Town of Harpswell, Harpswell, ME Diane Ward, Cook County Assessor's Office, Chicago, IL Michele M. Whittington, Stites & Harbison, PLLC, Frankfort, KY Gwana L. Wirtjes, Franklin County, Hampton, IA

10 Years

James H. Diya, Easley McCaleb & Associates, Inc., Fairfax, VA Robert Englebrecht, Antrim County, Bellaire, MI Terry L Henning, Hodgeman County Appraiser's Office, Jetmore, KS Teresa M Houchin, Scott County Assessor's Office, Benton, MO William Lee King, Henderson County Assessor's Office, Hendersonville, NC Renea Linton, Marriott International, Inc, Frederick, MD Rebecca L. Malmquist, CAE, City of Minnetonka, Minnetonka, MN Richard F. Murphy, Louisiana Tax Commission, Baton Rouge, LA Nick L. Sanchez, New Mexico Property Tax Division Appraisal Bureau, Santa Fe, NM Tammy Stonestreet, Harrison County Assessor's Office, Clarksburg, WV

25 Years

John F. Bausola, St Lucie County, Fort Pierce, FL Mary R. Cech, Thomas County, Colby, KS Mark Godwin, Indian River County Property Appraiser's Office, Vero Beach, FL Robert Kubera, CAE, City of Rochester, Fairport, NY Maxine McClelland, Big Rapids Township, Big Rapids, MI Marlene M Vinsanau, St Bernard Parish, Chalmette, LA Thomas E. Walker, Maine State Bureau of Taxation Property Tax Division, Augusta, ME

30 Years

Andrew L Blais, CAE, Town of Newmarket, Newmarket, NH Paul H. Jacobs, City & County of Denver, Denver, CO David Noll, CF Industries, Inc, Deerfield, IL

60 Years

Connecticut Association of Assessing Officers, Hartford, CT

15 Years

Arliss M Brown, Jefferson County, Fairbury, NE Shaun P. Cooney, CAE, Saskatchewan Assessment Management Agency, Regina, SK, Canada Regina D Cummings, Richardson County, Falls City, NE Robert Epperson, Missouri State Tax Commission, Jefferson City, MO Linda J Haislip, CMS, Marshall County, Lewisburg, TN Michael Hayes, Los Angeles County Assessor's Office, Culver City, CA Christopher Keeler, Sussex County Assessment Office, Georgetown, DE William M. Krupski, CAE, Olmsted County Assessor's Office, Rochester, MN Joseph Lindley, Sangamon County, Springfield, IL Truette McQueen, Ottawa County, Minneapolis, KS Bryan J Monaghan, Town of Huntington, Huntington, NY John R. Noguez, Los Angeles County Assessor's Office, Los Angeles, CA Mitchell W. Nuckles, City of Lynchburg, Lynchburg, VA Cheryl L Roberts, Logan County PVA Office, Russellville, KY Matthew E. Sturgis, Town of Cape Elizabeth, Cape Elizabeth, ME Kathryn Thompson, CAE, City of Calgary, Assessment Department, Calgary, AB, Canada

Air Travel Tip

Adapted from the TSA Web site, www.tsa. gov/secureFlight. since 2009, the Transportation securityAdministration(TSA)hasbeen implementing a program called secureFlight. Under secure Flight, airline passengers need to provide their full name, date of birth, and gender, when making airline reservations. You may have already been asked for this information. Many airlines are offering to keep this information on file so it is automatically available during ticketing. The program will be fully implemented by the end of 2010 so now is a good time to get prepared. secure Flight enables TsA to clear 99 percent of passengers to print their boarding passes at home when complete information is provided. If you would like to know more about these changes, visit TsA's secure Flight Web site ( SecureFlight).

20 Years

Richard Huffman, Dart Container Corporation-Tax, Mason, MI Robert E V Kelley, Jr, Hill, Ward & Henderson, PA, Tampa, FL Susan Marlow, Smart Data Strategies, Inc, Franklin, TN Darlene Silverstein, Indian River County Property Appraiser's Office, Vero Beach, FL Emily Vinke, Chatham County Board of Assessor's, Savannah, GA

22 Fair & Equitable · November 2010

education Calendar Member Communiqué



102--Income Approach to Valuation Montgomery, January 24­28, 2011 452--Fundamentals of Assessment of Ratio Studies Bay Minette, February 16­18, 2011 600--Principles and Techniques of Cadastral Mapping Montgomery, March 21­25, 2011 500--Assessment of Personal Property Montgomery, March 21­25, 2011 155--Depreciation Analysis Montgomery, April 28­29, 2011 553--Personal Property Auditing-Advanced Montgomery, May 18­20, 2011 101--Fundamentals of Real Property Appraisal Montgomery, September 26­30, 2011 The Center for Governmental Services sponsor the offerings listed above. For more details, contact Julia Heflin 334/8444782.

For more information about sponsoring IAAO classes contact Education Manager Jean Spiegel, [email protected] Please contact the individual coordinator listed below each state's offerings for enrollment/registration information.


300--Fundamentals of Mass Appraisal Greensburg, November 15­19, 2010 102--Income Approach to Valuation Greensburg, November 29­December 3, 2010 Indiana Chapter of IAAO sponsors the offerings listed above. For more details, contact Ginny Whipple 812/593-5308. 101--Fundamentals of Real Property Appraisal Evansville, January 24­28, 2011 Vanderburgh County Assessor sponsors the offerings listed above. For more details, contact Jonathon Weaver 812/435-5969.


101--Fundamentals of Real Property Appraisal Harrisonburg, June 13­17, 2011 102--Income Approach to Valuation Harrisonburg, June 13­17, 2011 201--Appraisal of Land Harrisonburg, June 13­17, 2011 300--Fundamentals of Mass Appraisal Harrisonburg, June 13­17, 2011 311--Residential Modeling Concepts Harrisonburg, June 13­17, 2011 400--Assessment Administration Harrisonburg, June 13­17, 2011 402--Tax Policy Harrisonburg, June 13­17, 2011 Department of Taxation sponsors the offering listed above. For more details, contact Brian Bergen 804/371-0862.


158--Highest and Best Use Ames, November 29­December 1, 2010. The Central District--Iowa State Association of Assessors sponsors the offering listed above. For more details, contact Linda Spearman 515/386-5660.


158--Highest and Best Use Wellesley, January 19­20, 2011 Massachusetts Chapter of IAAO sponsors the offerings listed above. For more details contact Karen Rassias 978/363-1117.

bY CourSe

Course 101--Fundamentals of Real Property Appraisal December 6­10, 2010, Florida (Orlando) January 24­28, 2011, Indiana (Evansville) June 13­17, 2011, Virginia (Harrisonburg) August 8­12, 2011, Illinois (Chicago) September 26­30, 2011, Alabama (Montgomery) Course 102--Income Approach to Valuation November 29­December 3, 2010, Indiana (Greensburg) December 6­10, 2010, Texas (Ft. Worth) December 6­10, 2010, Florida (Orlando) December 13­17, 2010, Texas (Houston) January 24­28, 2011, Alabama (Montgomery) June 13­17, 2011, Virginia (Harrisonburg) August 22­26, 2011, Illinois (Chicago) 151--National USPAP April 18­20, 2011, Florida (Jacksonville) Course 112--Income Approach to Valuation II January 10­14, 2011, Texas (Houston) Workshop 155--Depreciation Analysis April 28­29, 2011, Alabama (Montgomery) Workshop 158--Highest and Best Use November 29­December 1, 2010, Iowa (Ames) December 2­3, 2010, Michigan (Escanaba) January 19­20, 2011, Massachusetts (Wellesley) Workshop 191--National USPAP 7 Hour Update November 18, 2010, Texas (Houston) Course 201--Appraisal of Land December 6­10, 2010, Florida (Orlando) December 13­17, 2010, Texas (Houston) June 13­17, 2011, Virginia (Harrisonburg) (continued on page 24)


151--National USPAP Jacksonville, April 18­20, 2011 The Florida Chapter of IAAO sponsors the offerings listed above. For more details, contact Lainie Claudio 407/836-5086 101--Fundamentals of Real Property Appraisal Orlando, December 6­10, 2010 102--Income Approach to Valuation Orlando, December 6­10, 2010 201--Appraisal of Land Orlando, December 6­10, 2010 300--Fundamentals of Mass Appraisal Orlando, December 6­10, 2010 400--Assessment Administration Orlando, December 6­10, 2010 600--Principles & Techniques of Cadastral Mapping Orlando, December 6­10, 2010 The Florida Department of Revenue sponsors the offerings listed above. For more details, contact Meghan Miller at [email protected]


158--Highest and Best Use Escanaba, December 2­3, 2010 For more details, contact Miles Anderson 906/786-0839 or [email protected]


312--Commercial/Industrial Modeling Concepts Blue Springs, December 6­10, 2010 The Kansas City Chapter of IAAO sponsors the offering listed above. For more details, contact Sackey Kweku 816/881-3307.


402--Tax Policy Brentwood, November 15­19, 2010 The Division of Property Assessments sponsors the offerings listed above. For more details, contact James Woodyard, Sr. 615/401-7789.


452--Fundamentals of Assessment Ratio Studies Houston, November 15­17, 2010 191--National USPAP 7 Hour Update Houston, November 18, 2010 102--Income Approach to Valuation Ft. Worth, December 6­10, 2010 201--Appraisal of Land Houston, December 13­17, 2010 102--Income Approach to Valuation Houston, December 13­17, 2010 112--Income Approach to Valuation II Houston, January 10­14, 2011 Texas Association of Appraisal Districts sponsors the offerings listed above. For more details, contact Doris Koch 512/467-0402.


400--Assessment Administration Bloomington, March 28­April 1, 2011 101--Fundamentals of Real Property Appraisal Chicago, August 8­12, 2011 102--Income Approach to Valuation Chicago, August 22­26, 2011 The Illinois Property Assessment Institute sponsors the offerings listed above. For more details, contact Dean J. Michal 309/862-0300.

Fair & Equitable · November 2010


education Calendar

(continued from page 23)

Course 300--Fundamentals of Mass Appraisal November 15­19, 2010, Indiana (Greensburg) December 6­10, 2010, Florida (Orlando) June 13­17, 2011, Virginia (Harrisonburg) 311--Residential Modeling Concepts June 13­17, 2011, Virginia (Harrisonburg) Course 312--Commercial/Industrial Modeling Concepts December 6­10, 2010, Missouri (Blue Springs) 400--Assessment Administration December 6­10, 2010, Florida (Orlando) March 28­April 1, 2011, Illinois (Bloomington) June 13­17, 2011, Virginia (Harrisonburg) Course 402--Property Tax Policy November 15­19, 2010, Tennessee (Brentwood) June 13­17, 2011, Virginia (Harrisonburg) Workshop 452--Fundamentals of Assessment Ratio Studies November 15­17, 2010, Texas (Houston) February 16­18, 2011, Alabama (Bay Minette) Course 500--Assessment of Personal Property March 21­25, 2011, Alabama (Montgomery) Workshop 553--Personal Property Auditing-Advanced May 18­20, 2011, Alabama (Montgomery) Course 600--Principles and Techniques of Cadastral Mapping December 6­10, 2010, Florida (Orlando) March 21­25, 2011, Alabama (Montgomery)

Request for Proposal

Valuation of Commercial Properties in a Declining Market

IAAO is seeking a qualified individual to develop a one-day forum on the topic of valuing commercial properties in a declining market. The materials that are to be developed should reflect an understanding of adult learning principles and emphasizing the use of examples, case studies, and group discussion.

Scope of Work:

Developers will submit a content outline. Materials to be developed include: ­ student Reference Manual ­ Instructor Reference Manual ­ PowerPoint Presentation Developers will identify and question any issue or item they feel needs attention or approval before inclusion in the material. Developers may be required to participate in conference calls with the Education subcommittee to resolve any issues or answer any questions that may arise. To be Considered: If you are interested in submitting a bid and being considered as the Developer, please submit a hard copy and electronic copy of your proposal to include the following: 1. Professional biography 2. Professional references (e-mails and phone numbers)--Professionals in the field who can attest to your knowledge and experience in valuing commercial properties in a declining market 3.Time-and-cost calculations associated with the following development milestones: ­ Milestone # 1--Delivery and acceptance of an outlineandmeasurableperformanceobjectives ­ Milestone # 2--Delivery of initial draft ­ Milestone # 3--Delivery of response to reviewer comments ­ Milestone # 4--Delivery of final set of materials 4. Work samples (e.g., previous courses/examinations thatyouhavedeveloped) Please submit your proposal to the attention of Larry Clark, DirectorofProfessionalDevelopment,IAAO,314West10th Street,KansasCity,Missouri64105.Thedeveloperwillbe selected by the Education subcommittee.

Fundamentals of Tax Policy


Fundamentals of Tax Policy explores the concepts and philosophy of taxation, the underlying systems for taxation, and the effects of taxation, thus offering insight into current tax policy debates. The book presents a broad overview of general tax policy with an emphasis on property tax policy. This book will be useful to local, state, and provincial assessing officers and tax officials, members of the academic community, legislators, tax researchers, and governmental administrators. The book was authored by Richard Almy, Alan Dornfest, AAs, and Daphne Kenyon, Ph.D. To order, go to and click on Marketplace, the new IAAO online ordering system!

24 Fair & Equitable · November 2010

From the Director's Chair

A monthly memo from IAAO

From the Director's Chair is IAAo's way of communicating with members about the operations and activities at IAAO headquarters.

Maybe I feel the importance of this particular milestone just a little more than others because I can look around and see the result of every decision made to get us here. I can still sense the struggle that went in to getting us to where we are today. I can really feel the angst experienced by our elected leaders to first pick a city, then find a building, and finally hire an Executive Director. Next, move the entire operation, hire nearly all new staff, and hope against all hope that it all works out. Plans had been made for Fall Leader- Because of the timing of my hiring in 2004 ometimes when you open up the ship Days in Kansas City to include the and the move to Kansas City in June 2005, big blank page, at first you're afraid traditional IAAO staff Chili Cook-off. I had the privilege of being in the driver's you won't have enough important This is a highly competitive annual tradi- seat for every chair, cubicle, and phonethoughts to fill the vast whiteness--but tion, where the winner gets both brag- system decision. And in the midst of all the that's not the case this time around. With ging rights and (even more importantly decisions, you seek out the cream of the the 76th Annual International Conferperhaps)thecovetedIAAIChiliCook-off crop for new employees and tell them that ence on Assessment Administration beChampionship Belt (it was originally a IAAO is a wonderful organization, and if hind us and the announcement that we're coveted plastic-spoon "trophy" that has they come to work here, they won't regret paying off the mortgage on our headquarsincebeenimproved).Anystaffmember it. And, you make your hires and hope you tersbuilding,it'sajoytoonceagainreport would be proud to display this symbol of will also have few regrets there. good news on behalf of IAAO. chili excellence in his or her workspace. Finally the move happens, and you beAs Executive Director, it's been my privigin the real work that the average, everylege to offer good news to you on a great day member can see--new and improved number of occasions. We've celebrated a member benefits; updated courses and smooth transition to our new headquarnew textbooks; expanded learning opters in Kansas City from our original roots portunities through Webinars and online in Chicago. I've shared news of budget courses; a new and more sophisticated surpluses each year that I've been here. membership database to better meet Those funds have helped us fund the member needs; the continued improvecomplete rewriting of most of our courses. ment of our Journal and Fair & Equitable We've taken on the writing and revising publications and a world-class special of a number of textbooks. The latest is library with enhanced search capabilities the new Property Assessment Valuation, with available to every member, 24/7. And Fundamentals of Mass Appraisal also due we've done it all without raising dues. soon. All this work was long overdue, and Yes, there really is a championship belt for the Each year our "big event," as we like to it's been a great experience for me as an winner of the staff chili cook-off call the annual conference, is described association leader to witness such great so, in addition to having our Leadership by our members as the "best ever." This progress in a very short time. We've esDays guests experience the culinary depth year in Orlando was no exception. For tablished a strong team of professionals of our mild-mannered staffers, we wanted those who missed it, many of our memat headquarters that embody all that is to enhance the celebration by recognizing bers described the education sessions as good about this line of work. They are a the recent mortgage payoff. You may won- the best we've ever offered. As for our great group of hard working association der what the big deal is. I mean, the whole sponsors and exhibitors--in the midst of professionals, who work hard by day and idea was to pay it off as quickly as possible, an economic downturn, they really came often reach out into their communities right? That's all true, but I don't think we in their off hours. Most importantly, they anticipated that our progress after our care about IAAO members, and they care (continued on page 26) move from Chicago could be so profound about each other.

Normally all of this "waxing nostalgic" would be saved for one of those milestone anniversaries that hallmark commemorates with cards. But one of the biggest milestonesthatanyassociationcanenjoy hasjusttakenplace,sothankyouforpermittingmethismomentortwoofpurejoy before I put shoulder to the grindstone again. It was my privilege to witness the payoff of our mortgage during the last week in september. The celebration was first accomplished quietly. The bank calculates your exact payoff amount, you transfer the funds, and suddenly it really is yours. That hardly seemed a fitting celebration.

as to allow us the freedom to pay off our 20-year mortgage in a little over 5 years. so thank you for allowing me to celebrate beyond the bank transfer.


Fair & Equitable · November 2010


Awards Descriptions

through for us. Thank you exhibitors and sponsors for your extra support this year! It is truly appreciated. As with membership dues, conference registration fees have not been raised in more than eight years. I'm sure we'll have to raise dues and fees at some point, but the Executive Board has been very sensitive to the budget shortfalls and mandated reductions that our membershavebeenexperiencingintheirhomejurisdictions, so we'll continue to do more with less for as long as we can. And when and if we do have to raise dues and fees, you'll know that it's been done only when absolutely necessary.

Classified Ads


Taylor, MI

Masco Corporation is seeking to fill a Property Tax Accountant position reporting to the Manager of Property Taxes, will be responsible for such areas of Accounting, including reconciliation, classification and compliance; Audits, Assessments & Appeals; as well as Technology. Requirements minimally include: ·Bachelor'sdegreeinAccounting/Finance At76yearsandafewmonthsforIAAOand6yearsandfew ·3-5yearsworkexperienceinTax/Accounting/Financefield/ months for me, we don't qualify for any special recognition from Assessing/Equalization hallmark cards, but why don't we celebrate anyway? This orga- ·Strongverbalandwrittencommunicationskills nization belongs to the members. This headquarters building is Masco has approximately 120 manufacturing facilities and owned lock, stock and barrel--by you. Your input directs where 40,000 employees worldwide. For more specific information we go. Your opinions are of the utmost importance to us. I think onthisjobposting,visittheCareerssectionoftheMascoWeb I speak for the whole staff when I say it's a privilege to serve you. site at

Sincerely, Lisa Daniels, MPA, Certified Association Executive

Executive Director Ps: Can we make your membership experience any better for you? share your ideas with me. Just drop me an e-mail, [email protected]


Houston, TX

PositionVacancyAnnouncement JOBTITLE:ARBAdministratorPOSITIONNO.:310238 POsITION Is: X Exempt Non-Exempt TDLR REgIsTRATION: Not Required TODAY'SDATE:September23,2010DIVISION:ARBOperations DEsCRIPTION/QUALIFICATIONs: Leadership position in Administration of the independent Appraisal Review Board (ARB, ARB Executive Office and ARB OperationsDivisionoftheHCADSupportServicesDepartment). Developsolutionsandimplementstrategiesinconjunctionwith ARB Officers, Legal Counsel, ARB Executive Office Team, ARB Leadership group, and hCAD support services Department for cost and time efficient operations in a constantly changing environment. Responsible for the ARB scheduling process, production of panel assignments, overall hearing efficiency, reaching of annual performance milestones, monitoring and cost effective process improvement of ARB Operations as well as management of ARB/ hCAD shared resources; overall coordination and communication between ARB and hCAD and citizens of harris County. Representation of ARB interests at high-level hCAD meetings. Formal training and/ or proven track record inallofthefollowingareas:1)Organizationalleadershipand peoplemanagement;2)LegalandPropertyTaxMattersand/ orAppraisal;3)OpenorProprietaryMISexperienceand/or database management and administration. EDUCATION AND EXPERIENCE: graduate of an accredited four-year college or university with degree in administration/ management, law, appraisal, IT management, or equivalent; advanced degree a plus. Extensive professional experience in administration/management, law, appraisal, IT management, or equivalent, with proven leadership, communication, and planning skills in a complex interdisciplinary environment. Excellent personal computer skills (Ms Office, specifically Ac-

26 Fair & Equitable · November 2010

Contact Advertising Sales Representative Mario Gipson to place your classified ad on the IAAO Web site and in Fair & Equitable. [email protected] · 816/701-8131

cess,Excel,PowerPoint)anddatabasemanagementexperience, electronic document processing, electronic workflow planning and management; excellent skills in database administration and research; working knowledge of CAMA systems and/ or similar proprietary or open management information systems. Knowledge of property or general tax administration and/ or appraisal techniques. strong inter-organizational communication skills (both verbal andwritten)whendealingwiththegeneralpublic,publicofficials, and public servants. A positive, customer service oriented, and highly professional attitude. The ability to maintain composure, think clearly, and make informed decisions when under pressure. Demonstrated ability to lead and direct others and manage multipleprojectssimultaneously. Ability to make and effectively communicate decisions in a complex and diverse environment. Excellent verbal and written communication skills. Physical and Mental Abilities: The position requires considerable concentration, creativity and ability to manage time effectively. Itissubjecttostresscausedbyachangingpublicenvironment, diversity in the organization, mandatory deadlines and heavy workload. Requires the ability to operate office equipment and communicate on the telephone and face to face. SALARY:Thisisafull-timecontractpositionat$25-$33perhour and not eligible for employee benefit package. Upon satisfactoryreview,attheendofafour(4)monthevaluationperiod,a permanent offer with compensation commensurate with education and experience and full benefit package may be made. CLOsINg DATE: This position will be open until filled. Interested applicants should submit an application, resume, cover letter with salary history, and unofficial transcript to the hu-

manResourcesDivisionat13013NorthwestFreeway,Houston, TX77040,[email protected]


Kenai Peninsula Borough, Soldotna, Alaska

Position performs real property appraisals, data collection, sales analysis and estimates construction costs for residential and commercial real property, conducts surveys, researches construction costs, and analyzes economic information. This is professional work requiring extensive public contact and explanation of policies, procedures and applicable Borough/state ordinances/ laws.$28.9154/ send completed Borough application and resume to Kenai Peninsula Borough, hR, 144 N. Binkley, Soldotna,AK99669orfaxto(907)714-2396.


Vancouver, WA (outside of Portland, OR)

Vancouver, WA (outside of Portland, OR) property tax and cost segregation consulting firm, with potential expansion to the greater seattle area, seeks an individual with appraisal experience to assist with valuation consulting as well as communications with clients and commercial appraisers for counties. Duties may also include presentations to county and state boards, as needed. Knowledge and experience with the cost, income and market approaches to value required, as well as experience with direct capitalizations and discounted cash flow analytical models. Our practice is comprised of all types of commercial real estate, including but not limited to senior living, hotels, apartments, office buildings and retail centers. Please email a resume and any other relevant information to: [email protected]

IAAO Talent Search

The strength of IAAO comes from the knowledge and skills of its members. Do you want to be a part of the TALENT POOL? Visit to fill out the talent search form and questionnaire. Complete the form to be considered for technical assistance, project management, consulting, and volunteer opportunities. Be a part of the IAAO solution.

Fair & Equitable · November 2010


IAAO Provides Opportunities for Scholarship Funding through the IAAO Financial Assistance Program

IAAO Financial Assistance Program Of ferings IAAO Scholarship Fund

The IAAO Executive Board has established a Scholarship Fund for the purpose of promoting ad valorem appraisal professionalism. The Scholarship Fund is available to all IAAO members who need financial assistance to: · AttendIAAOeducationalactivities · AttendtheIAAOannualconference · AttainanIAAOprofessionaldesignation · Performresearch Applications are available at For more information, contact Director of Administration Angela Blazevic, 816/701-8123, [email protected]

Barbara Brunner Scholarship Fund

Funding provides registration scholarships for members to attend the annual conference (administered by the IAAO Scholarship Committee). Applications are available at For more information, contact Director of Administration Angela Blazevic, 816/701-8123, [email protected]

Jeff Hunt, CAE, Memorial Candidates Trust

Grants are awarded to professional designation candidates who demonstrate financial need and intend to use the funds to complete the requirements of a professional designation (administered by the Jeff Hunt, CAE, Memorial Candidates Assistance Trust Committee). Applications are available at For more information, contact Education Manager Jean Spiegel, 816/701-8133, [email protected] Funding is awarded to help assessing officers from smaller rural jurisdictions become members of IAAO or maintain membership in IAAO. Priorityisgiventoassessorswhoworkfull-timeinjurisdictionswith fewer than 7,500 parcels of real estate and consideration is given to the jurisdiction's budgetary constraints (administered by the Timothy N. Hagemann Memorial Membership Trust Committee).

Timothy N. Hagemann Memorial Membership Trust

Friends of the Paul V. Corusy Library Trust

FriendsofthePaulV.CorusyLibraryTrustfundingisawardedtoperform research in the fields of mass appraisal, tax assessment, and tax policythroughouttheworld(administeredbytheFriendsofthePaul V.CorusyLibraryTrustCommittee). Applications are available at For more information, contact Director of Administration Angela Blazevic, 816/701-8123, [email protected]

Application forms are available on the IAAO Web site at www.iaao. org/library/index.cfm.The link can be found under Library & Resources/Scholarships.Pleasedownloadtheapplicationformspriorto contacting staff.

End of YEar PErsonal Tax Planning sEason is UPon Us. ConsidEr a donaTion To iaao.

For more information contact Angela Blazevic, AAS, Director of Administration, [email protected], 816/701-8123 or go to the IAAO Web site for information about specific funds. IAAO is a nonprofit 501(c)(3) educational association. Contributions are generally tax deductible. Check with your tax advisor.



28 Fair & Equitable · November 2010

2 $200!



Name Jurisdiction/Firm Office Street Address Office City Office Phone Home Street Address Home City Home State/Province/Country Office Fax Office State/Province/Country Office E-mail Title

Office ZIP/Postal Code

Home ZIP/Postal Code

ends c mar h 31,




Home Phone Send mail to:


Good things come in pairs, so IAAO offers you the chance to get up to two years (or more!) of membership for only $200.*

Join now and don't pay dues again until January 1, 2013! Take advantage of this incredible $200 membership offer before it expires on March 31, 2011.

Home Fax Home E-mail Home Check here if you do not do not wish to receive membership e-mails. E-mail is a vital link between IAAO and it's members. It is IAAO policy not to sell, rent, or distribute e-mail addresses. Check here if you are an elected official.

Person referring applicant (if anyone)

I hereby apply for membership in the International Association of Assessing Officers and agree to comply with the requirements of the IAAO Code of Ethics and Standards of Professional Conduct. If accepted for membership, I will abide by the IAAO Constitution, pay the established dues, and comply with the Code and Standards.

Signature Date

Please indicate if you have been convicted of a felony or crime of office which may reflect on your ability to abide by the IAAO Code of Ethics and Standards of Professional Conduct. Yes No

Office use only: 24200FE

Double up on your initial membership term and participate in IAAO's many benefits, including:

· AssessorNET, IAAO's members-only online discussion forum · Free subscriptions to IAAO's highly respected publications · IAAO's world premier library and research services · Educational opportunities and the ability to earn a professional designation · Discounts on conferences, seminars, books and more

TOTAL MEMBERSHIP DUES $ For information about an accredited membership designation, go to If paying by check, please make check payable to IAAO in U.S. Funds and mail to: IAAO, P.O. Box 504183, St. Louis, MO 63150-4183 (The returned check charge is $25.00)


is available to: all officers, officials, and employees of a governmental authority or jurisdiction who have any or all of their duties related to property valuation, property tax administration, or property tax policy; all persons engaged as individuals, or employees of an organization, who exclusively spend their time to provide professional services to governmental officers, officials, or offices of a governmental authority or jurisdiction in support of the property valuation, property tax administration, or property tax policy functions. Professional services do not include the providing of hardware, software, equipment or the sale of either goods or services to governmental agencies.

Regular Membership

is available to: all officers, officials or employees of governmental agencies who do not have any duties directly involved in property valuation, property tax administration, or property tax policy; all officers, administrators, employees and enrolled students of educational institutions; individuals involved in or interested in property valuation, property tax administration, or property tax policy; any member of any organization, group, or association, whether local, regional, national, or international, interested in property valuation, property tax administration or property tax policy.

Associate Membership

Councils and Sections Interest Areas (you may join more than one at no additional charge)

Public Utility Section Computer Assisted Appraisal Section State and Provincial Council Metropolitan Jurisdiction Council Mapping and GIS Section Personal Property Section Tax Collection Section


Dues are payable in advance. Please complete this application and return with payment of dues: If paying by credit card, please provide the information requested below and fax to 816/701-8149.

VISA Cardholder Name (Print) MasterCard Card Number AMEX

Questions? Call 800/616-IAAO

Expiration Date

*Not applicable for membership renewal. New members who join at this exclusive rate will renew as of January 1, 2013 at full price.

International Association of Assessing Officers 314 W 10th St Kansas City, Missouri 64105-1616


hings irs! ood t in pa G come


For a limited time, recruit new members who will get up to two years (or more!) of membership for only $200. They can join now and not pay dues again until January 1, 2013! This deal is doubly good because for each person you refer, you get an entry into a monthly drawing for $200. It's a win-win, the perfect pair! This incredible offer expires on March 31, 2011. The sooner you recruit new members, the more they get for free, and the more chances you have to win $200.

This deal is 2 good 2 pass up, so don't wait, share today!

Visit for more information and a special membership application. Questions? Contact [email protected] or call 1-800-616-IAAO (4226).


International Association of Assessing Officers


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