Last month, I started the discussion with Part 1 of this topic. Near the conclusion of Part 1, I hoped for some questions and what-ifs. I got ‘em, and I hope this month’s post will provide some insight.
Category: Appraisal (page 2 of 2)
This is the exact question that I was asked recently.
“Are all North Carolina, county, ad valorem, real estate appraisers subject to the Uniform Standards of Professional Appraisal Practice (USPAP)?”
This could be a very short blog post. The answer to the question is, “no”. But a different question, “Should all North Carolina county ad valorem appraisers comply with USPAP?” leads to a more in depth discussion. The answer to that question is, “yes”. I believe if you act as an appraiser, you should comply with USPAP.
Tax Abatement, visual by Ruth Lerner
I’m here to help alleviate fears. In August 2015, the Governmental Accounting Standards Board (GASB) issued GASB Statement No. 77, Tax Abatement Disclosures. The guidance, which if it were applicable to North Carolina governments, would be effective for fiscal year end June 30, 2017. The requirements are relatively simple – if a government has any tax abatement agreements, as defined in the standard, there are certain note disclosure requirements that must be made regarding the agreement(s). A tax abatement in is defined in the standard as follows: Continue reading
It is comforting to know that as assessors and appraisers, we speak the same language. We had a great learning experience last week in IAAO 331, Mass Appraisal Practices and Procedures. Our instructor was David Cornell, CAE, MAI. David is from New Hampshire and brought fantastic discussions to our group of 23 North Carolinians. The discussions and examples we experienced can be used for improving appraisal equity and uniformity in individual jurisdictions throughout our state. One of the items that we discussed was a worthy repeat from other mass appraisal courses: The importance of data in the assessor’s office. Not only do we need to collect the right data for model specification, but we have to collect it accurately.
At the upcoming NCAAO Fall Conference, the NCDOR will be conducting sessions on their new reappraisal standards, to be published later this year. Continue reading
Benjamin Frankin, (1706-1790) , North American printer, publisher, writer, scientist, inventor and statesman. Source: Wkipedia
Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.
Benjamin Franklin, in a letter to Jean-Baptiste Leroy, 1789
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