Today the API represents the interests of more than 8,600 property professionals throughout Australia. API members include residential, commercial and plant and machinery valuers, property advisers, property analysts, property fund and asset managers, property facility managers, property lawyers and property researchers and academics. The Institute’s primary role is to set and maintain the highest standards of professional practice, education, ethics and professional conduct for its members and the broader property profession.
The Property Appraiser Association of Florida (PAAF) has developed a 3rd Homestead Exemption Tax Savings Estimator. The estimator was developed to help voters determine if they will receive any additional benefit from the proposed 3rd Homestead Exemption (Additional $25,000) on the ballot for the November 6, 2018 General Election. For additional information please see Understanding the 1st, 2nd, and 3rd Homestead Exemption.
Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value, for real property (usually market value). Real estate transactions often require appraisals because they occur infrequently and every property is unique (especially their condition, a key factor in valuation), unlike corporate stocks, which are traded daily and are identical (thus a centralized Walrasian auction like a stock exchange is unrealistic). The location also plays a key role in valuation. However, since property cannot change location, it is often the upgrades or improvements to the home that can change its value. Appraisal reports form the basis for mortgage loans, settling estates and divorces, taxation, and so on. Sometimes an appraisal report is used to establish a sale price for a property.
The federal government regulates appraisers indirectly because if the Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC) finds that a particular state's appraiser regulation and certification program is inadequate, then under federal regulations all appraisers in that state would no longer be eligible to conduct appraisals for federally chartered banks. The ASC oversees the TAF. Banks make widespread use of mortgage loans and mortgage-backed securities, and would be unable to do so without appraisals.
A home appraisal is an unbiased estimate of the true (or fair market) value of what a home is worth. All lenders order an appraisal during the mortgage loan process so that there is an objective way to assess the home’s market value and ensure that the amount of money requested by the borrower is appropriate. The appraisal can include recent sales information for similar properties, the current condition of the property, and the location of the property, i.e., insight as to how the neighborhood impacts the property’s value.
The scope of work is the first step in any appraisal process. Without a strictly defined scope of work, an appraisal's conclusions may not be viable. By defining the scope of work, an appraiser can properly develop a value for a given property for the intended user, and for the intended use of the appraisal. The whole idea of "scope of work" is to provide clear expectations and guidelines for all parties as to what the appraisal report does, and does not, cover; and how much work has gone into it.
Twitty, 49, brings a wealth of knowledge to the position. A lifelong Pinellas County resident and University of Florida graduate, he went to work for Entreken Associates, a small local appraisal firm, and eventually bought an ownership stake. Entreken later merged with other firms to form Valbridge Property Advisors, a national company handling residential and commercial appraisals and eminent domain cases. Twitty has appraised thousands of properties of varying types and holds the field's highest professional designation. As a director with Valbridge, he has extensive management experience that will be key to running a professional office that serves the public. He has a vision for modernizing the office, including creating a user-friendly, one-stop-shopping website that can generate reports on individual properties and includes zoning and land use information, tax records and other public records.
As always, the Property Appraiser's office is ready to answer any of your value or exemption questions. Please remember that our office does not set the millage rates, adopt budgets or collect taxes. If your questions concern any of those issues, please contact the taxing authority listed in the notice. Their meeting dates, locations and times are printed on the back side of the form.
This week, at the IAAO International meeting, valued members of the OCPA team made presentations to their colleagues. Roger Ross gave a wildly popular presentation on the Agency’s commitment to customer service. Terry Taylor and Jeff Miller also presented an educational session on “Agriculture in the Land of Amusement,” sharing information of the diversity of properties within Orange County.
For the 2014-15 tax roll, Hillsborough County Property Appraiser Bob Henriquez has implemented a cutting-edge desktop appraisal software system that is already saving taxpayers thousands of dollars in assessment and property review costs while potentially adding millions of dollars in revenue for county and city budgets in the coming years. Click Here To Learn More
In person: When requesting public records in person, you can stop by Pinellas County Marketing & Communications, located at, 333 Chestnut St., Clearwater, FL 33756. (727) 464-4600. Also, you may make a Public Record Request at any Pinellas County Department, click on the link for department information. http://www.pinellascounty.org/departments.htm. When you arrive, provide your public records request. To help us expedite and avoid delays in processing your request, please be as detailed as possible with the information you are requesting. The request will be reviewed and forwarded to the department liaison responsible for processing your request. You will be notified through your preferred communication method of updates relating to your request.