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Presented by the Institute of Municipal Assessors (IMA) and the International Property Tax Institute (IPTI), this virtual symposium will span two half-day sessions, offering a deep dive into the future of property valuations. Featuring expert-led discussions, the event will explore how emerging technologies like artificial intelligence and machine learning are transforming the valuation industry. Participants will gain insight into the evolving role of these innovations and their potential impact on valuation professionals worldwide, positioning them at the forefront of a rapidly changing landscape
Portfolio sales most often occur for investment grade properties. These sales often include many properties in a portfolio transfer. While typically comprising of similar asset class portfolio sales by large companies, institutions or REITs often involve several different asset classes. In an increasingly uncertain economic environment, some corporations are turning to their existing real estate as a source of liquidity, with the sale of portfolios becoming a common strategy. This webinar will explore these transactions, provide real examples, and propose best practice course of action for segregating out individual values for analysis. The webinar will also look at the use of portfolio sales in a mass appraisal setting and discuss adjustments that may be required.
This webinar will assist participants to better understand what AI and machine learning are and the various techniques that can be utilized in valuations for property tax purposes. The focus of the webinar will be on the use of AI in select assessment jurisdictions focusing on opportunities and challenges they faced. A case study will also be provided demonstrating how AI is being implemented in an assessment jurisdiction to produce valuations for assessment roll return.
This webinar will take the form of a panel discuss with representatives from assessing jurisdictions and property tax consulting firms. The panelist will discuss the importance of working collaboratively throughout the entire process with focus on data sharing, importance of pre-discussions and timing of exchanging documentation. Tax agents will outline their role in assisting clients to better understand the property assessment process and the key role they play in assuring fair and equitable property taxation.
The management of property tax portfolios is very complex. Corporate managers oversee the complicated processes and are faced with many internal and external challenges. This includes dealing with budgeting, compliance, litigation and managing external experts. Dealing with multiple sources of information, limited access to data, lack of standardization, consistency and effective internal communication is also very challenging. This one-day workshop, hosted by IPTI’s Corporate Advisory Committee, will provide an opportunity for experience sharing and interactive discussion on effective ways to manage property tax portfolios.
Municipalities play an important role in the property assessment world. This webinar will help Municipalities better understand the property assessment system and highlight their role in the process. The webinar will look at the importance of sharing data and how that data impacts the property valuation process. We will also highlight the importance of good property tax relief programs and delve into property tax planning discussing how valuers deal with future development and growth.
This webinar will provide a working overview of the discounted cash flow (DCF) technique in property assessment valuations. The panelist will provide an understanding of differences between direct capitalization and the DCF methods. They will offer suggestion an applicable application of DCF in a mass appraisal setting. The webinar will also provide attendees with a better understanding of the required inputs for a DCF calculations such as understanding appropriate income patterns, selection of yield rate and inclusion of reversionary value.
Property tax is a crucial revenue source for local governments, ideally characterized by a broad tax base, minimal exemptions, and properties assessed at updated market values. Effective administration, appeal processes, and enforcement are key to generating sufficient revenue for services. However, in many countries, property taxes do not meet this ideal due to challenges like inadequate legislation, weak administration, or unpopularity. This conference aims to explore global experiences in addressing these challenges, sharing insights from international experts on legislation, valuation, tax policy, and administration, with a focus on improving property tax systems.
The Royal Institution of Chartered Surveyors (RICS) and the International Property Tax Institute (IPTI) are pleased to announce their 12th Annual Caribbean Valuation and Construction Conference on October 22nd and 23rd, 2025. This year's theme will focus on Innovation and Collaboration in the field of Valuation and Construction.
Farmland values are rising amidst urban expansion, environmental degradation, and shifting social norms. Cities grew large due to fertile soils, favorable climates, and natural harbors. As urbanization intensifies, property assessors and municipalities face new challenges in valuing land and setting policy. This talk explores how agriculture has influenced land use and property values, the complexities of valuing transitioning lands, and the impact of modern agricultural practices. We’ll present future scenarios, such as shifts in diet or climate change, and discuss the role of municipalities in land use planning and policy decisions. Gain insights into analyzing sales for farm valuations and the critical role of municipalities in sustainable land use.
Income and expense statements form the basis of the income approach. We will work through a detailed step-by-step review and reconstruction of income and expense statements from a valuator’s perspective. This is a practical webinar which focuses on actual case studies rather than theory. The panelists will look at what legitimate expenses associated with real property for inclusion in the net operating income. As well attendees will gain an understanding of different types of financial statements and the key definitions and concepts relating to financial reporting.
"Facing Ontario's Challenges, Looking to the Future"
Where: The Faculty Club of University of Toronto
Gold Sponsors:
Bronze Sponsor:
Colliers International
Please note HST will be added automatically to your registration fee.
September 13 - 15, 2022Grand HyattDenver, ColoradoThis two and a half day Workshop will cover the latest property tax issues and trends companies are dealing with in 2022 and will deal with in the future – including an in-depth review of the latest developments in property tax legislation and litigation throughout the U.S. Presenters will be leading experts in the property tax field. Only employees of COST member and non-COST member companies are invited to attend.
Managing Property Tax Portfolios in a post-COVID-19 WorldTUESDAY, May 24, 2022 This event is for Corporate Representatives only.Prologis Offices 6250 North River Road, Suite 1100 Rosemont, (Chicago) Illinois, 60018PREMABLE: The COVID pandemic has created additional challenges for corporate property tax managers overseeing an already complicated process. Complexities such as dealing with multiple sources of information and limited access to data, the lack of standardization and consistency, and effectively communicating with business units within the organization have all been further complicated by the pandemic. As the property tax burden is shifting due to COVID-19’s impact on the various property classes, additional challenges are created by a lack of understanding of the tax assessment cycles in local jurisdictions and how local assessors deploy appraisal methods. Further challenges include the inability to easily analyze property assessments based on market research to determine if they are fairly assessed and to provide concise and clear reporting in sufficient detail to allowed informed decisions. This one-day workshop, hosted by IPTI’s Corporate Advisory Committee, will include experience sharing and interactive discussions dealing with many of the above challenges.
Agencies Challenges and SolutionsWhat can we learn from each other?
Provides the attendee with a general introduction to mass appraisal valuation. Topics covered include:- Mass appraisal vs single appraisal- Computer assisted mass appraisal (CAMA)- Mass appraisal and the three approaches to value- Steps in the mass appraisal process- Measuring mass appraisal performance- Technology and skills required
Outlines the critical role the valuer plays in the mass appraisal process by having a clear understanding of the population of data through statistical analysis of the supply. Topics covered include:· The need to understand relevant market factors influencing value for various properties types· The importance of property stratification of data · Appropriate data edit checks and process control checks to be performed to maximize quality of data to be analyzed
Provides a thorough understanding of the data requirements essential to support a successful mass appraisal. Topics include:· The importance of accurate data· Identifying various types of data· Sample vs population· Data requirements for the three approaches to value· Various data sources· Alternative data collection tools
Provides key questions to understand data through exploratory data analysis in the mass appraisal process: Topics include:· Measures of central tendency· Measures of dispersion· Graphical analysis· Identifying data errors and anomalies· Outlier identification
Provides the attendee with an understanding of how multiple regression analysis is used in mass appraisal, highlighting the model specification and calibration process. Topics include:· Defining a model· Overview of multiple regression analysis· Data transformations· Various types of model calibration/key regression statistics· Overview of additive, multiplicative and non-linear model
(Please note date changed)Gain an understanding of how to measure model results and ensure consistent and equitable predictions. This webinar will also touch on the application process and follow-up required by the valuer. Topics include: Purpose and role of ratio studies Determining the level of appraisal Horizontal equity Vertical equity International standards Sample vs population - issues to avoid
(Duration 3.5 hours)A hands-on model building skills session guiding the attendee through a DCA model building process from start to finish.The scope of the workshop will include mass appraisal model building, ratio studies and model performance review.
(Duration 3.5 hours)A hands-on model building session guides the attendees through the cost model building process from start to finish.The scope will include the building of a land model with market derived depreciation and a land model with residuals.This workshop will also cover ratio studies and model performance reviews.
(Duration 3 hours)A hands-on model building workshop guiding the attendee through an income model building process from start to finish.The scope will include the building of a fair market rent model and a GIM model. This workshop will also cover ratio studies and model performance reviews.
In this first of two panel discussions dealing with the effects of the COVID lockdowns. Our panelists will consider the market realities affecting real estate transactions in the commercial and the multi-residential sector. Research indicates that the pandemic lockdowns have had varying impacts on different property types and discussions continue regarding the possible long-term effects. The panelists will share their legal, manufacturing industry and valuation perspectives.
This second installment of the two webinar offering on post-Covid market realities builds on the first webinar that dealt with the effects of the COVID lockdowns on real estate transactions in the commercial and multi-residential sector as well as impacts on the manufacturing industry. Our panelists will focus on the valuation implications of the current and expected market conditions from both a private sector lens as well as an assessing authority perspective. Commercial tenants and owners are looking for solutions that are sustainable in the short term and adjustable and viable in the longer term. Assessors need to be aware of and incorporate the current market conditions into their ongoing analysis and make data-driven sector specific observations and valuation decisions as well as consider changing public expectations regarding physical inspections of properties and other practical aspects and processes.
Derivation of Fair Market Rents and ExpensesThis Webinar will demonstrate how to accurately interpret an income/expense statement as well as explain the process for developing fair market rents that can be applied across a grouping of properties. Establishing accurate market rents is an important component of producing accurate values of income producing properties. Therefore, the process of deriving Fair Market Rents will be discussed. The question of what relevant expenses are associated with real property which are appropriate for inclusion in the determination of the Net Operating Income will be considered.
Capitalization Rate and Excess Land AnalysisThe Direct Capitalization Methodology is widely used in valuation of Income Producing Properties. However, the derivation of Capitalization rates can be one of the more difficult inputs to determine especially in the situations where there are few representative sales available for analysis. This Webinar will discuss the various methodologies for determining capitalization rates and discuss the strengths and weaknesses of various methodologies. In addition, a detailed explanation of excess land analysis will be discussed. The panelists will comment on situations where additional value needs to be considered for the excess land not required to support the commercial activity present on the property.
Value in Use vs. Value in ExchangeReal property’s value can be defined in economic terms. Real property has two types of economic value: value-in-use and value-in-exchange. Value-in-use is a value to an owner who uses the property in a way that suits him/her. All properties have value-in-use to their owners. When exposed to the market, these properties may command quite different market prices (value-in-exchange) which presumably is based on their possible highest and best use as allowed by the governing zoning bylaws and market conditions. These concepts will be fully explained during this Webinar.
Assessment Valuation of big box stores seems to create many challenges for assessing authorities and taxpayers. In recent years there has been extensive litigation throughout the United States and Canada dealing with the appropriate valuation methodology for these properties. A few American states have revised their property tax laws in an attempt to regulate valuation methodology for these properties. This Webinar will explore the challenges associated with the valuation of these properties and discuss the Canadian experience. The panelists will discuss their perspectives on valuation, including selection of comparable properties for the derivation of fair market rents - Issues of a relationship between development cost and lease rates, whether cost-based leases represent market rent and what is the correct economic life of a big box store will be discussed.
Adjustments; Multi-Property Transactions; Government SalesMarket transactions play a critical role in the valuation process. In difficult economic times when sale volumes are low the valuator is often required to look at more non-typical sale transactions and transactions that may require adjustments before being considered in any analysis. This webinar will look at different types of transactions, break down the key factors to help understand the sale and the important questions the valuator should be asking to better understand the conditions influencing the sale. The attendees will also gain insight into when adjustments to sale prices are warranted and how adjustments can be derived.
PREMABLE: The corporate property tax managers are dealing with difficult business conditions. This includes rising inflation and higher interest rates which have a negative impact on their company’s performance. The COVID pandemic has created additional challenges which also included changing consumer behavior. Some of the challenges include the inability to easily analyse property assessments based on current market conditions.This one-day workshop, hosted by IPTI’s Corporate Advisory Committee, will provide an opportunity for experience sharing and interactive discussion.
In this webinar participants will be provided with an overview of the valuation of hotel properties for property assessment purposes. The participants will gain an understanding of the industry specific terminology used in the hotel industry, a review of different hotel types and determining a competitive set of properties for common analysis. The webinar will look at developing a proforma valuation from stabilized revenues and expenses, the use of effective capitalization rates and accounting for items such as furniture, fixtures and equipment, reserves for renewals and management fees.
The Conference of Valuation Agencies (CoVA) is the successor event to the former Commonwealth Heads of Valuation Agencies (CHOVA) conferences. CoVA was established in 2021 and facilitated by the International Property Tax Institute (IPTI). The theme of this year's conference is "Valuation Agencies of the Future" and it will bring together experts from all over the world to discuss a variety of topics that will be of interest not only to those in valuation agencies but also to those who use their valuation services.
This webinar has been organized in collaboration with IMA (Institute of Municipal Accessors) and is designed to familiarize attendees with the ‘ins and outs ‘of preparing for an Assessment Appeal hearing. It will cover the role of the parties, preparation, information exchange, procedures, and practice. The role and challenges facing an expert witness will be discussed. Prehearing preparations including interaction and working with lawyers will be covered.
The Royal Institution of Chartered Surveyors (RICS) and the International Property Tax Institute (IPTI) are pleased to host this year’s Caribbean Valuation and Construction Conference focusing on 'Learning from the Past, Looking into the Future' and 'Sustainability & Climate Change'.
Provides a general introduction to mass appraisal. Topics covered include mass appraisal vs single property appraisal, computer-assisted mass appraisal(CAMA), mass appraisal and the three approaches to value, steps in the mass appraisal process, measuring mass appraisal performance, technology and skills required.
The Royal Institution of Chartered Surveyors (RICS) and the International Property Tax Institute (IPTI) are pleased to announce their 10th Annual Caribbean Valuation and Construction Conference focusing on 'Advancements in Real Estate – Recent Trends Impacting Valuation and Construction'.
This webinar has been organized in collaboration with IMA (Institute of Municipal Accessors). The first step in utilizing the cost approach to value is determining the cost to construct property improvements. This webinar will discuss the two possible starting points - reproduction cost and replacement cost new and discuss which method is preferred for property assessment. The audience will also gain an understanding of cost data sources and the importance of updated cost estimates. The panelists will also examine the various methods of developing costing estimates using one of the three traditional approaches.
Provides the attendees with an understanding of how multiple regression analysis is used in mass appraisal, highlighting the model specification and calibration process. The topics covered include defining a model, overview of multiple regression analysis, data transformations, various types of model calibration and key regression statistics and an overview of additive, multiplicative and nonlinear models
European and U.S. Commercial Real Estate Market Update 2023Understanding the New Normal
The management of property tax portfolios is very complex and challenging. With the rising property tax burden, the number of management challenges is also increasing. Corporate managers need to deal with multiple sources of information, the lack of standardization and consistency, complex valuation issues, litigation, and also effectively communicating with internal and external stakeholders.
Time adjustments are an important part of the valuator’s toolbox. An accurately calculated time curve enables older sales to be brought into the analysis and also serve as a measure of quality after the proposed values are generated. This webinar will provide an overview of various techniques used in establishing time adjustments with the focus on mass appraisal techniques using multiple regression analysis. It will outline various methods of predicting time adjustments and their application for residential properties. The webinar will also look at the challenges valuators face when developing time adjustments for non-residential properties with a view into possible solutions.
Even before the pandemic, people were going to malls less often – including the top-tier ones that generate the most revenue per square foot. In 2019, foot traffic at Canada’s top 10 malls fell by 22 per cent compared with the previous year. Over 2,000 stores in Canada closed in 2020, more than three times the prior year’s number, according to Cushman & Wakefield. That was led by Starbucks and David’s Tea, but also included many mall stalwarts that either pared down their number of locations – such as Aldo, Bizou, Bouclair, Ricki’s and Stokes – or decided to close altogether, such as Carlton Cards and Addition Elle. This session will examine the impact on this sector to date and look forward at what the indicators are for the future.
Provides an understanding of the key steps for exploratory data analysis as part of the mass appraisal process. Topics include measures of central tendency, measures of dispersion, graphical analysis, data errors and anomalies, outlier identification.
The International Property Tax Institute (IPTI) and The International Association of Assessing Officers (IAAO) are pleased to announce that they will be presenting a joint Mass Appraisal Valuation Symposium focusing on 'Valuing Properties in Uncertain Times'.
This webinar will identify and clarify the differences between excess and surplus land. The panelist will discuss the effect these differences have on calculating value using the income approach to value. The audience will gain an understanding of how to identify surplus or excess land and how to accurately estimate the value of each considering local zoning bylaws and the shape and placement of the structures on the land.
Office buildings are currently seeing a surge in vacancy rates as tenants continue to review and reduce current space requirements. This webinar will focus on the challenges both owners and tenants are facing such as reduction of space, flight to quality space and continued offering of tenant inducements. The panelist will also discuss how return to work policies, carbon tax initiatives and higher carrying costs are impacting office valuations. The audience will gain insight into the state of the office industry and look to potential solutions moving forward.
Portfolio sales most often occur for investment grade properties. These sales can include many specific properties in the portfolio transfer. In an increasingly uncertain economic environment, some corporations are turning to their existing real estate as a source of liquidity, with the sale of portfolios becoming a common strategy. Acceleration of portfolio sale-and-leasebacks is already being attributed to the current coronavirus (COVID-19) volatility. In the U.S, the likes of Bed Bath & Beyond and Macy’s sold their real estate prior to Covid-19. Sale-and-leaseback deals, where companies sell their own real estate to unlock capital then lease the asset back, are set to continue in popularity, building on the momentum of the past five years. This webinar will explore these sorts of transactions, provide a real example, and propose best practice course of action for segregating out individual values for analysis and defense.
The International Research Symposium, Assessment Innovation & Collaboration with a Focus on AI is set for 4-5 December in Amsterdam and the IRS plans to showcase the latest research and developments that have tangible impacts on property tax appraisal accuracy and efficiency.
Provides an understanding of how to measure model results and ensure consistent and equitable predictions. Topics include purpose and role of ratio studies, determining the level of appraisal, horizontal equity, vertical equity, international standards, and sample vs population – issues to avoid.
This year's Property Tax Conference is centered around the global landscape of property tax policy. We will delve into the successes and challenges experienced across different regions. Participants will also get the opportunity to share valuable experiences and insights related to various facets of property tax policy with industry experts worldwide.
Many assessing jurisdictions are required to determine a market or current value for property assessment purposes. In addition to determining market value many jurisdictions are also challenged with ensuring the market value is fair and equitable with the treatment of similar property. This webinar will look at the role equity has in property assessment valuations, current case law and how courts are interpreting the definition of equity. The panelists will also discuss the role a valuer plays when an equity argument is raised.
This webinar looks at the effects of societal and environmental changes and the impact they have on the valuation of privately owned properties. From funding and financing to valuation and taxation. The webinar will examine the impact on shifting vacancies in office space; changes in Highest and Best Use; changing property taxation classification; market shifts in utilization; and changes in demand. In this interactive presentation attendees will be problem-solving some of these new challenges impacting these markets.
Do municipalities currently play a meaningful role and what is their participation in dispute resolution activities (negotiations, mediations and board hearings)? What is their participation at hearings and what are the expectations by the assessing authorities, tax payers and the appeal boards?
This webinar will consider the challenges of valuing properties which suffer from various forms of contamination. It will look at environmental impairment and how this impacts the valuation process. The attendees will gain a better understanding of the nature of the contamination/impairment and the type, and cost, of necessary remediation works. The presenters will also look at issues concerning the highest and best use of the property as impaired and consider how the three main valuation approaches need to be adapted to reflect the contamination. They will also consider the liability impacts, use limitations, and possible stigma attached to contaminated properties. The presentation will cover both mass appraisal valuation and single property appraisal.
Provides a thorough understanding of the data requirements essential to support a successful mass appraisal. Topics include the importance of accurate data, different types of data, sample vs population data, data requirements for the three approaches to value, data sources and alternative data collection tools.
Successful organizations build in appropriate quality standards to ensure that all aspects of their activities meet their stakeholders’ expectations. They also continue to monitor and, where necessary, improve their quality standards to maintain their effectiveness over time. For a property tax assessing agency, this is of particular importance in relation to their key activity which is the production of property valuations that form the basis of the property tax system in the jurisdiction(s) they cover.It is essential that property taxpayers and governments that bill and collect property taxes have confidence in the accuracy and fairness of the valuations that assessing agencies produce and maintain. It is also important that any other layer of government, or other bodies that may rely on the property tax valuations for other funding purposes, also have confidence in the valuations that form the tax base.For these reasons, it is essential that assessing organizations set appropriate quality standards, employ effective quality assurance and quality control measures that are relevant to their activities and audit them on a regular basis to ensure they are fit for purpose.IPTI has developed a "Quality Audit Framework" (QAF) which enables assessing organizations to objectively review the extent to which they meet these requirements. This webinar will explain what the QAF is and how it can be applied.
This webinar looks at the effects of these changes and impacts on the valuation of publicly owned properties. Unlike privately owned properties, ownership of these properties is not associated with a pursuit for a financial return on an investment. Rather, various levels of government elect to own certain types of properties for a variety of reasons, including security, politics, heritage, and cultural reasons. Given their unique motivations for ownership, along with public scrutiny, they make decisions associated with real estate that differ from profit-seeking entities and consequently realize value in a different manner. The presentation will highlight how government entities realize value from their assets and provide attendees with an understanding of the challenges valuers face in determining a valuation that is consistent with the users of the properties.
After the determination of replacement or reproduction cost new of the property improvements all forms of depreciation and obsolescence are deducted. One of the more difficult forms to account for is external/economic obsolescence. In this webinar the panelist will highlight the differences between various types of depreciation with detailed focus on external/economic obsolescence. The audience will gain an understanding of the factors causing external/economic obsolescence and the primary methods used to quantify obsolescence. The panelists will also look at the feasibility of determining functional obsolescence in a mass appraisal environment.
This webinar will look at the structure and content ofan expert valuation report. Reviewing the overall format and fundamentals areport should take. The webinar will highlight the critical content of thereport and provide suggested structure and flow for developing a good expertreport. The panelist will provide thevaluer with the necessary requirements, content and writing requirements thatgo into a report and look at some essential dos and don’ts for your report.Attendees will also be left with a checklist to help ensure the valuationreport contains all the critical and necessary information.
Outlines the critical role the valuer plays in the mass appraisal process by having a clear understanding of the population of data through statistical analysis of the supply. Topics covered will include the need to understand relevant market factors influencing value for various property types, the need importance of property stratification of data and appropriate data edit checks and process control check to be performed to maximize quality of data to be analyzed.
The International Property Tax Institute (IPTI) and The International Association of Assessing Officers (IAAO) are pleased to announce that they will be presenting a joint Mass Appraisal Valuation Symposium. The theme of the virtual MAVS is “Challenges and Opportunities”.
This webinar will focus on the current trends and factors affecting multi-residential properties today. Participants will obtain a better understanding of the fundamentals and principles in valuing multi-residential properties. The panelist will discuss the effects of rent control on valuation for property tax purposes. Participants will gain an understanding of the various valuation techniques looking at the direct capitalization and the gross rent multiplier valuation approaches as well as the determination of rents and expense allowances.
This webinar will discuss the difficult challenges assessors face when valuing development land for property assessment purposes. The panelist will discuss the concepts of highest and best use and the importance of conducting a proper analysis. They will also discuss the role different levels of government play in land use designation, planning policies and zoning bylaws and the effect those have on property valuation.
In mass appraisal the quality and accuracy of assessed values in relation to the reality of the market as expressed by arm’s length sales requires close attention. Appraisal level and appraisal uniformity are two test that are relied upon by assessment jurisdictions to measure the effectiveness of their results. This webinar will take a closer look at assessment to sale ratios, measures of central tendencies and graphic analysis assessors and modelers use to better understand and measure the accuracy of predicted values. The webinar will also look at appraisal uniformity testing within grouping and between groupings, horizontal and vertical equity, how to read various statistical measures and other measures and tools to help in the overall ratio review.
Any interest in real estate that is capable of generating income can be valued using the direct capitalization approach. This requires an appropriate derivation of the capitalization rate. Depending on the quantity and quality of available data, there are various techniques used. This webinar will cover the challenges assessors and valuators face in deriving capitalization rates in the application of the direct capitalization methodology. Emphasis will be given to derivation of the rates from comparable sales. As well, data requirements and practical application of the methodology will be discussed.
During this webinar an explanation will be provided of the meaning of statutory valuations from the legal and valuator/assessor perspective. Consideration will also be given as to what makes valuations for property tax different from other types of valuations. An indication will be provided as to the type of legislation and other requirements assessors need to consider. The focus of the webinar will primarily be valuations for recurrent property tax; however, other types of statutory valuations will be mentioned.
This webinar will look at the impact that societal and environment changes are having on the real estate market. As people continue to look for more work life balance the traditional workplace is changing to meet those needs. The presenters will look at the current impacts; what we expect to see; and how owners are reacting. In an interactive presentation attendees will be encouraged to provide their observations from their specific viewpoints and field of expertise.
Functional obsolescence results when flaws or deficiencies form in the structure, materials or design of the improvements over time. This webinar will focus on types of functional obsolescence, key factors causing functional obsolescence and discuss processes to help assessors quantify functional obsolescence. The panelist will also look at the feasibility of determining functional obsolescence in a mass appraisal environment.
Market data collection is one of the important steps in the mass appraisal process however, this step is not always one that is completely understood. This webinar will look at various aspects of the data collection process, the importance of having accurate and reflective market data and the impact inaccurate data can have on the analytical process. It will also look at how to properly categorize and stratify your data to help form better analytics and application of models to the population. The webinar will also outline the importance of ensuring proper data checks and process controls are implemented throughout the process.
Care homes cover a wide range of property types. This webinar will provide participants with an overview of the different types of care homes, evolving trends in care home design and how each are valued for property assessment purposes. Participants will gain an understanding of industry specific terminology, legislative differences, and subsidies provided by governments. The webinar will look at developing a proforma valuations for various care home types including funding formulas, expense ratios and developing capitalization rates.
Even before the pandemic, people were going to malls less often – including the top-tier ones that generate the most revenue per square foot. In 2019, foot traffic at Canada’s top 10 malls fell by 22 per cent compared with the previous year. Over 2,000 stores in Canada closed in 2020, more than three times the prior year’s number, according to Cushman & Wakefield. That was led by Starbucks and David’s Tea, but also included many mall stalwarts that either pared down their number of locations – such as Aldo, Bizou, Bouclair, Ricki’s and Stokes – or decided to close altogether, such as Carlton Cards and Addition Elle. This session will examine the impact on this sector to date and look forward at what the indicators are for the future.
Do municipalities currently play a meaningful role and what is their participation in dispute resolution activities (negotiations, mediations and board hearings)? What is their participation at hearings and what are the expectations by the assessing authorities, tax payers and the appeal boards?
Portfolio sales most often occur for investment grade properties. These sales can include many specific properties in the portfolio transfer. In an increasingly uncertain economic environment, some corporations are turning to their existing real estate as a source of liquidity, with the sale of portfolios becoming a common strategy. Acceleration of portfolio sale-and-leasebacks is already being attributed to the current coronavirus (COVID-19) volatility. In the U.S, the likes of Bed Bath & Beyond and Macy’s sold their real estate prior to Covid-19. Sale-and-leaseback deals, where companies sell their own real estate to unlock capital then lease the asset back, are set to continue in popularity, building on the momentum of the past five years. This webinar will explore these sorts of transactions, provide a real example, and propose best practice course of action for segregating out individual values for analysis and defense.
During this webinar an explanation will be provided of the meaning of statutory valuations from the legal and valuator/assessor perspective. Consideration will also be given as to what makes valuations for property tax different from other types of valuations. An indication will be provided as to the type of legislation and other requirements assessors need to consider. The focus of the webinar will primarily be valuations for recurrent property tax; however, other types of statutory valuations will be mentioned.
In mass appraisal the quality and accuracy of assessed values in relation to the reality of the market as expressed by arm’s length sales requires close attention. Appraisal level and appraisal uniformity are two test that are relied upon by assessment jurisdictions to measure the effectiveness of their results. This webinar will take a closer look at assessment to sale ratios, measures of central tendencies and graphic analysis assessors and modelers use to better understand and measure the accuracy of predicted values. The webinar will also look at appraisal uniformity testing within grouping and between groupings, horizontal and vertical equity, how to read various statistical measures and other measures and tools to help in the overall ratio review.
Time adjustments are an important part of the valuator’s toolbox. An accurately calculated time curve enables older sales to be brought into the analysis and also serve as a measure of quality after the proposed values are generated. This webinar will provide an overview of various techniques used in establishing time adjustments with the focus on mass appraisal techniques using multiple regression analysis. It will outline various methods of predicting time adjustments and their application for residential properties. The webinar will also look at the challenges valuators face when developing time adjustments for non-residential properties with a view into possible solutions.
European and U.S. Commercial Real Estate Market Update 2023Understanding the New Normal
This webinar will look at the impact that societal and environment changes are having on the real estate market. As people continue to look for more work life balance the traditional workplace is changing to meet those needs. The presenters will look at the current impacts; what we expect to see; and how owners are reacting. In an interactive presentation attendees will be encouraged to provide their observations from their specific viewpoints and field of expertise.
This webinar has been organized in collaboration with IMA (Institute of Municipal Accessors) and is designed to familiarize attendees with the ‘ins and outs ‘of preparing for an Assessment Appeal hearing. It will cover the role of the parties, preparation, information exchange, procedures, and practice. The role and challenges facing an expert witness will be discussed. Prehearing preparations including interaction and working with lawyers will be covered.
This webinar looks at the effects of societal and environmental changes and the impact they have on the valuation of privately owned properties. From funding and financing to valuation and taxation. The webinar will examine the impact on shifting vacancies in office space; changes in Highest and Best Use; changing property taxation classification; market shifts in utilization; and changes in demand. In this interactive presentation attendees will be problem-solving some of these new challenges impacting these markets.
This webinar has been organized in collaboration with IMA (Institute of Municipal Accessors). The first step in utilizing the cost approach to value is determining the cost to construct property improvements. This webinar will discuss the two possible starting points - reproduction cost and replacement cost new and discuss which method is preferred for property assessment. The audience will also gain an understanding of cost data sources and the importance of updated cost estimates. The panelists will also examine the various methods of developing costing estimates using one of the three traditional approaches.
This webinar looks at the effects of these changes and impacts on the valuation of publicly owned properties. Unlike privately owned properties, ownership of these properties is not associated with a pursuit for a financial return on an investment. Rather, various levels of government elect to own certain types of properties for a variety of reasons, including security, politics, heritage, and cultural reasons. Given their unique motivations for ownership, along with public scrutiny, they make decisions associated with real estate that differ from profit-seeking entities and consequently realize value in a different manner. The presentation will highlight how government entities realize value from their assets and provide attendees with an understanding of the challenges valuers face in determining a valuation that is consistent with the users of the properties.
Market data collection is one of the important steps in the mass appraisal process however, this step is not always one that is completely understood. This webinar will look at various aspects of the data collection process, the importance of having accurate and reflective market data and the impact inaccurate data can have on the analytical process. It will also look at how to properly categorize and stratify your data to help form better analytics and application of models to the population. The webinar will also outline the importance of ensuring proper data checks and process controls are implemented throughout the process.
After the determination of replacement or reproduction cost new of the property improvements all forms of depreciation and obsolescence are deducted. One of the more difficult forms to account for is external/economic obsolescence. In this webinar the panelist will highlight the differences between various types of depreciation with detailed focus on external/economic obsolescence. The audience will gain an understanding of the factors causing external/economic obsolescence and the primary methods used to quantify obsolescence. The panelists will also look at the feasibility of determining functional obsolescence in a mass appraisal environment.
Functional obsolescence results when flaws or deficiencies form in the structure, materials or design of the improvements over time. This webinar will focus on types of functional obsolescence, key factors causing functional obsolescence and discuss processes to help assessors quantify functional obsolescence. The panelist will also look at the feasibility of determining functional obsolescence in a mass appraisal environment.
Office buildings are currently seeing a surge in vacancy rates as tenants continue to review and reduce current space requirements. This webinar will focus on the challenges both owners and tenants are facing such as reduction of space, flight to quality space and continued offering of tenant inducements. The panelist will also discuss how return to work policies, carbon tax initiatives and higher carrying costs are impacting office valuations. The audience will gain insight into the state of the office industry and look to potential solutions moving forward.
This webinar will discuss the difficult challenges assessors face when valuing development land for property assessment purposes. The panelist will discuss the concepts of highest and best use and the importance of conducting a proper analysis. They will also discuss the role different levels of government play in land use designation, planning policies and zoning bylaws and the effect those have on property valuation.
Many assessing jurisdictions are required to determine a market or current value for property assessment purposes. In addition to determining market value many jurisdictions are also challenged with ensuring the market value is fair and equitable with the treatment of similar property. This webinar will look at the role equity has in property assessment valuations, current case law and how courts are interpreting the definition of equity. The panelists will also discuss the role a valuer plays when an equity argument is raised.
This webinar will focus on the current trends and factors affecting multi-residential properties today. Participants will obtain a better understanding of the fundamentals and principles in valuing multi-residential properties. The panelist will discuss the effects of rent control on valuation for property tax purposes. Participants will gain an understanding of the various valuation techniques looking at the direct capitalization and the gross rent multiplier valuation approaches as well as the determination of rents and expense allowances.
Provides a general introduction to mass appraisal. Topics covered include mass appraisal vs single property appraisal, computer-assisted mass appraisal(CAMA), mass appraisal and the three approaches to value, steps in the mass appraisal process, measuring mass appraisal performance, technology and skills required.
Any interest in real estate that is capable of generating income can be valued using the direct capitalization approach. This requires an appropriate derivation of the capitalization rate. Depending on the quantity and quality of available data, there are various techniques used. This webinar will cover the challenges assessors and valuators face in deriving capitalization rates in the application of the direct capitalization methodology. Emphasis will be given to derivation of the rates from comparable sales. As well, data requirements and practical application of the methodology will be discussed.
Outlines the critical role the valuer plays in the mass appraisal process by having a clear understanding of the population of data through statistical analysis of the supply. Topics covered will include the need to understand relevant market factors influencing value for various property types, the need importance of property stratification of data and appropriate data edit checks and process control check to be performed to maximize quality of data to be analyzed.
Care homes cover a wide range of property types. This webinar will provide participants with an overview of the different types of care homes, evolving trends in care home design and how each are valued for property assessment purposes. Participants will gain an understanding of industry specific terminology, legislative differences, and subsidies provided by governments. The webinar will look at developing a proforma valuations for various care home types including funding formulas, expense ratios and developing capitalization rates.
Provides a thorough understanding of the data requirements essential to support a successful mass appraisal. Topics include the importance of accurate data, different types of data, sample vs population data, data requirements for the three approaches to value, data sources and alternative data collection tools.
Provides an understanding of the key steps for exploratory data analysis as part of the mass appraisal process. Topics include measures of central tendency, measures of dispersion, graphical analysis, data errors and anomalies, outlier identification.
Provides the attendees with an understanding of how multiple regression analysis is used in mass appraisal, highlighting the model specification and calibration process. The topics covered include defining a model, overview of multiple regression analysis, data transformations, various types of model calibration and key regression statistics and an overview of additive, multiplicative and nonlinear models
This webinar will identify and clarify the differences between excess and surplus land. The panelist will discuss the effect these differences have on calculating value using the income approach to value. The audience will gain an understanding of how to identify surplus or excess land and how to accurately estimate the value of each considering local zoning bylaws and the shape and placement of the structures on the land.
This webinar will consider the challenges of valuing properties which suffer from various forms of contamination. It will look at environmental impairment and how this impacts the valuation process. The attendees will gain a better understanding of the nature of the contamination/impairment and the type, and cost, of necessary remediation works. The presenters will also look at issues concerning the highest and best use of the property as impaired and consider how the three main valuation approaches need to be adapted to reflect the contamination. They will also consider the liability impacts, use limitations, and possible stigma attached to contaminated properties. The presentation will cover both mass appraisal valuation and single property appraisal.
Provides an understanding of how to measure model results and ensure consistent and equitable predictions. Topics include purpose and role of ratio studies, determining the level of appraisal, horizontal equity, vertical equity, international standards, and sample vs population – issues to avoid.
This webinar will look at the structure and content ofan expert valuation report. Reviewing the overall format and fundamentals areport should take. The webinar will highlight the critical content of thereport and provide suggested structure and flow for developing a good expertreport. The panelist will provide thevaluer with the necessary requirements, content and writing requirements thatgo into a report and look at some essential dos and don’ts for your report.Attendees will also be left with a checklist to help ensure the valuationreport contains all the critical and necessary information.
Farmland values are rising amidst urban expansion, environmental degradation, and shifting social norms. Cities grew large due to fertile soils, favorable climates, and natural harbors. As urbanization intensifies, property assessors and municipalities face new challenges in valuing land and setting policy. This talk explores how agriculture has influenced land use and property values, the complexities of valuing transitioning lands, and the impact of modern agricultural practices. We’ll present future scenarios, such as shifts in diet or climate change, and discuss the role of municipalities in land use planning and policy decisions. Gain insights into analyzing sales for farm valuations and the critical role of municipalities in sustainable land use.
Income and expense statements form the basis of the income approach. We will work through a detailed step-by-step review and reconstruction of income and expense statements from a valuator’s perspective. This is a practical webinar which focuses on actual case studies rather than theory. The panelists will look at what legitimate expenses associated with real property for inclusion in the net operating income. As well attendees will gain an understanding of different types of financial statements and the key definitions and concepts relating to financial reporting.
Portfolio sales most often occur for investment grade properties. These sales often include many properties in a portfolio transfer. While typically comprising of similar asset class portfolio sales by large companies, institutions or REITs often involve several different asset classes. In an increasingly uncertain economic environment, some corporations are turning to their existing real estate as a source of liquidity, with the sale of portfolios becoming a common strategy. This webinar will explore these transactions, provide real examples, and propose best practice course of action for segregating out individual values for analysis. The webinar will also look at the use of portfolio sales in a mass appraisal setting and discuss adjustments that may be required.
This webinar will assist participants to better understand what AI and machine learning are and the various techniques that can be utilized in valuations for property tax purposes. The focus of the webinar will be on the use of AI in select assessment jurisdictions focusing on opportunities and challenges they faced. A case study will also be provided demonstrating how AI is being implemented in an assessment jurisdiction to produce valuations for assessment roll return.
This webinar will take the form of a panel discuss with representatives from assessing jurisdictions and property tax consulting firms. The panelist will discuss the importance of working collaboratively throughout the entire process with focus on data sharing, importance of pre-discussions and timing of exchanging documentation. Tax agents will outline their role in assisting clients to better understand the property assessment process and the key role they play in assuring fair and equitable property taxation.
Successful organizations build in appropriate quality standards to ensure that all aspects of their activities meet their stakeholders’ expectations. They also continue to monitor and, where necessary, improve their quality standards to maintain their effectiveness over time. For a property tax assessing agency, this is of particular importance in relation to their key activity which is the production of property valuations that form the basis of the property tax system in the jurisdiction(s) they cover.It is essential that property taxpayers and governments that bill and collect property taxes have confidence in the accuracy and fairness of the valuations that assessing agencies produce and maintain. It is also important that any other layer of government, or other bodies that may rely on the property tax valuations for other funding purposes, also have confidence in the valuations that form the tax base.For these reasons, it is essential that assessing organizations set appropriate quality standards, employ effective quality assurance and quality control measures that are relevant to their activities and audit them on a regular basis to ensure they are fit for purpose.IPTI has developed a "Quality Audit Framework" (QAF) which enables assessing organizations to objectively review the extent to which they meet these requirements. This webinar will explain what the QAF is and how it can be applied.
Municipalities play an important role in the property assessment world. This webinar will help Municipalities better understand the property assessment system and highlight their role in the process. The webinar will look at the importance of sharing data and how that data impacts the property valuation process. We will also highlight the importance of good property tax relief programs and delve into property tax planning discussing how valuers deal with future development and growth.
This webinar will provide a working overview of the discounted cash flow (DCF) technique in property assessment valuations. The panelist will provide an understanding of differences between direct capitalization and the DCF methods. They will offer suggestion an applicable application of DCF in a mass appraisal setting. The webinar will also provide attendees with a better understanding of the required inputs for a DCF calculations such as understanding appropriate income patterns, selection of yield rate and inclusion of reversionary value.
The management of property tax portfolios is very complex. Corporate managers oversee the complicated processes and are faced with many internal and external challenges. This includes dealing with budgeting, compliance, litigation and managing external experts. Dealing with multiple sources of information, limited access to data, lack of standardization, consistency and effective internal communication is also very challenging. This one-day workshop, hosted by IPTI’s Corporate Advisory Committee, will provide an opportunity for experience sharing and interactive discussion on effective ways to manage property tax portfolios.
Presented by the Institute of Municipal Assessors (IMA) and the International Property Tax Institute (IPTI), this virtual symposium will span two half-day sessions, offering a deep dive into the future of property valuations. Featuring expert-led discussions, the event will explore how emerging technologies like artificial intelligence and machine learning are transforming the valuation industry. Participants will gain insight into the evolving role of these innovations and their potential impact on valuation professionals worldwide, positioning them at the forefront of a rapidly changing landscape
The International Research Symposium, Assessment Innovation & Collaboration with a Focus on AI is set for 4-5 December in Amsterdam and the IRS plans to showcase the latest research and developments that have tangible impacts on property tax appraisal accuracy and efficiency.
The Royal Institution of Chartered Surveyors (RICS) and the International Property Tax Institute (IPTI) are pleased to host this year’s Caribbean Valuation and Construction Conference focusing on 'Learning from the Past, Looking into the Future' and 'Sustainability & Climate Change'.
The International Property Tax Institute (IPTI) and The International Association of Assessing Officers (IAAO) are pleased to announce that they will be presenting a joint Mass Appraisal Valuation Symposium. The theme of the virtual MAVS is “Challenges and Opportunities”.
This year's Property Tax Conference is centered around the global landscape of property tax policy. We will delve into the successes and challenges experienced across different regions. Participants will also get the opportunity to share valuable experiences and insights related to various facets of property tax policy with industry experts worldwide.
The Royal Institution of Chartered Surveyors (RICS) and the International Property Tax Institute (IPTI) are pleased to announce their 10th Annual Caribbean Valuation and Construction Conference focusing on 'Advancements in Real Estate – Recent Trends Impacting Valuation and Construction'.
The International Property Tax Institute (IPTI) and The International Association of Assessing Officers (IAAO) are pleased to announce that they will be presenting a joint Mass Appraisal Valuation Symposium focusing on 'Valuing Properties in Uncertain Times'.
The management of property tax portfolios is very complex and challenging. With the rising property tax burden, the number of management challenges is also increasing. Corporate managers need to deal with multiple sources of information, the lack of standardization and consistency, complex valuation issues, litigation, and also effectively communicating with internal and external stakeholders.
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