Course Descriptions

IAAO Course/Workshop Descriptions

Course 101

Fundamentals of Real Property Appraisal

Description:

The Fundamentals of Real Property Appraisal is designed to provide the students with an understanding and working knowledge of the procedures and techniques required to estimate the market value of vacant and improved properties. This course concentrates on the skills necessary for estimating the market value of properties using two approaches to value: the cost approach and the sales comparison approach. The Fundamentals of Real Property Appraisal utilizes lectures, classroom discussion, and homework problems to emphasize the main concepts and procedures taught in the course.

Materials:

Property Assessment Valuation (PAV) textbook (3rd edition) (obtain from IAAO)

Dates: November 4-8, 2019 |

Fees: 2019 TAAD Member District: $490 | 2019 TAAD Associate/Affiliate Member: $540 | 2019 Non-Member: $625 |

Credits: TDLR credit: 30 hours | AQB Approved: 33.50 CE with exam / 30 CE no exam

Course 102

Income Approach to Valuation

Description:

The Income Approach to Valuation is designed to provide the students with an understanding and working knowledge of the procedures and techniques required to estimate the market value of vacant or improved properties by the income approach. The material covers real estate finance and investment, capitalization methods and techniques, analysis of income and expenses to estimate operating income, selection of capitalization rates, and application of the approach. The Income Approach to Valuation utilizes lectures, classroom discussion, and homework problems to emphasize the main concepts and procedures taught in the course.

Materials:

Property Assessment Valuation (PAV) textbook (3rd edition) (obtain from IAAO)

Dates: December 3-7, 2018 | January 28-February 1, 2019 | December 2-6, 2019 |

Location for December 3: Harris CAD - 13013 Northwest Freeway, Houston, TX, USA

Location for December 2: Harris CAD - 13013 Northwest Freeway, Houston, TX, USA

Fees: 2018 TAAD Member District: $485 | 2018 TAAD Associate/Affiliate Member: $535 | 2018 Non-Member: $600 | 2019 TAAD Member District: $490 | 2019 TAAD Associate/Affiliate Member: $540 | 2019 Non-Member: $625 |

Credits: TDLR credit: 30 hours | AQB Approved: 33.50 QE, 33.50 CE with exam / 30 CE no exam

Recommended Prerequisites: Course 101

Course 112

Income Approach to Valuation II

Description:

Income Approach to Valuation II is an intermediate level program designed for the practicing appraiser. It builds on the training of IAAO Course 102. An understanding of the income approach to value and practical experience with income capitalization are essential prerequisites. Problem solving requires a calculator with a power key. This course makes extensive use of financial compounding and discounting techniques. Emphasis is on developing financial factors by way of electronic devises with only slight references to preprinted tables. Forecasting income patterns and property value changes are prominent variables used in estimating present values. Formula driven models are the primary appraisal tools versus look up tables and vertical calculations. Market value estimates through yield capitalization are the principal focus of the course.

Materials:

Property Assessment Valuation (PAV) textbook (3rd edition) (obtain from IAAO)

Dates: February 11-15, 2019 |

Location: Denton CAD - 3911 Morse St, Denton, TX, USA

Fees: 2019 TAAD Member District: $490 | 2019 TAAD Affiliate/Associate Member: $540 | 2019 Non-Member: $625 |

Credits: AQB Approved: 33.50 QE, 33.50 CE with exam / 30 CE no exam

Recommended Prerequisites: Course 101, 102

Course 201

Appraisal of Land

Description:

Appraisal of Land is designed to provide the students with an understanding and working knowledge of the procedures and techniques required to estimate the market value of land. This course concentrates on the skills necessary for estimating land value primarily using the sales comparison approach.

Materials:

Property Assessment Valuation (PAV) Textbook (3rd edition) (obtain from IAAO)

Dates: February 11-15, 2019 |

Fees: 2019 TAAD Member Districts: $490 | 2019 TAAD Associate/Affiliate Members: $540 | 2019 Non-Members: $625 |

Credits: TDLR credit: 30 hours | AQB Approved: 33.50 CE with exam / 30 CE

Recommended Prerequisites: Course 101, Course 102

Course 300

Fundamentals of Mass Appraisal

Description:

This course provides an introduction to mass appraisal and is a prerequisite for the 300 series of courses offered by the IAAO. Topics covered include single-property appraisal versus mass appraisal, components of a mass appraisal system, data requirements and analysis, introduction to statistics, use of assessment ratio studies in mass appraisal, modeling of the three approaches to value, and selection of a mass appraisal system.

Materials:

Fundamentals of Mass Appraisal (FMA) textbook (obtain from IAAO)

Dates: April 22-26, 2019 | October 28-November 1, 2019 | November 4-8, 2019 |

Location for April 22: Harris CAD - 13013 Northwest Freeway, Houston, TX, USA

Location for November 4: McLennan CAD - 315 S 26th St, Waco, TX, USA

Fees: 2019 TAAD Member Districts: $490 | 2019 TAAD Associate/Affiliate Members: $540 | 2019 Non-Members: $625 |

Credits: TDLR credit: 30 hours | AQB Approved: 33.50 CE with exam / 30 CE

Recommended Prerequisites: Courses 101, 102

Course 311

Residential Modeling Concepts

Description:

Course 311 presents a detailed study of the mass appraisal process as applied to residential property. Topics covered include a comparison of single-property appraisal and mass appraisal, the major steps in the mass appraisal process, data requirements, market analysis, application of the approaches to value, use of sales ratio studies, and valuation review techniques. For more information on the course, please read the Course Information Packet.

Dates: November 18-22, 2019 |

Fees: 2019 TAAD Member Districts: $490 | 2019 TAAD Associate/Affiliate Members: $540 | 2019 Non-Members: $625 |

Credits: 30 CEs

Recommended Prerequisites: Course 300

Course 312

Commercial/Industrial Modeling Concepts

Description:

Course 312 presents a detailed study of the mass appraisal process as applied to income-producing property. Topics include income property data, market analysis, sales comparison approach, cost approach, gross and net income analysis, capitalization rate development, model specification and calibration, and value review and maintenance. For more information, please read the Course Information Packet. For more information on the course, please read the Course Information Packet.

Credits: 30 CEs

Recommended Prerequisites: Course 300

Course 331

Mass Appraisal Practices and Procedures

Description:

This course is designed to build on the subject matter covered in Course 300 — Fundamentals of Mass Appraisal and prepare the student to take the more advanced mass appraisal courses. It teaches the student how to use Excel and SPSS to analyze data and apply it. Much of the emphasis will be on data accumulation and analysis primarily directed toward the cost approach. Along the way the student will learn how to use the graphing and analysis tools within Excel for ratio studies in addition to supporting existing cost schedules or building new ones.

Materials:

Fundamentals of Mass Appraisal textbook (FMA)

Credits: AQB Approved: 33.50 CE with exam / 30 CE

Recommended Prerequisites: Course 300

Course 332

Modeling Concepts

Description:

Modeling Concepts introduces and explains fundamentals of mass appraisal model building. Chapter 1 explains the role of models in mass appraisal and describes basic model structures and steps in model development. Chapter 2 covers exploratory data analysis, including descriptive statistics, charts and graphs, and spatial analyses. Chapter 3 describes data transformations, which largely determine the accuracy achieved for a given database. Chapter 4 introduces multiple regression analysis, including regression statistics and options, the interpretation of results, and separation of land and building values. Chapter 5 covers the review and support of mass appraisal values and chapter 6 describes mass appraisal reporting.

The course includes a large number of demonstrations and labs using Excel, which is capable of producing basic models for a limited number of variables. Follow-up courses 333 and 334 cover residential and commercial modeling, respectively, in more depth and use the powerful but user-friendly statistical package, SPSS, in labs and demonstrations. Thus this course serves as a foundation and bridge to IAAO’s two follow-up model building courses. For more information on the course, please read the Course Information Packet.

Materials:

Fundamentals of Mass Appraisal textbook (FMA)

Credits: AQB Approved: 33.50 QE, 33.50 CE with Exam / 30 hours CE no exam

Recommended Prerequisites: Course 300, a solid working knowledge of Excel

Course 333

Residential Modeling Applications

Description:

Course 333 focuses on mass appraisal model building for residential properties. Chapter 1 explains the different types of mass appraisal models, types of data used in models, steps in model development, software tools available for modeling, and key regression concepts and statistics. Chapter 2 introduces the student to features contained in common statistical software packages. Chapter 3 covers basic statistical analyses, data transformations, charts and graphs, and data filters and sub-files. Chapter 4 focus on the development and application of price trends and vacant land models. Chapter 5 focuses on the development of improved residential models. Chapter 6 introduces automated comparable sales models.

Along with problems and illustrations, more than half of the course is based on hands-on labs in which students work through exercises with real world data to answer questions and construct data transformations, price trends, land and improved residential models, and ratio analyses. The course uses IBM’s user-friendly statistical software package, SPSS (Statistical Package for the Social Sciences), the most common statistical software package used by assessors. Follow-up course 334 covers the development of non-residential mass appraisal models. Recommended:

Materials:

Fundamentals of Mass Appraisal textbook (FMA) (obtain from IAAO)

Credits: 30 CEs |

Recommended Prerequisites: Course 300, A solid working knowledge of SPSS.

Course 334

Commercial Modeling Applications

Description:

** Student Requirements from IAAO:

This is a “hands on” class.  Each attendee will be required to bring his/her own laptop loaded with Excel (2010 or later version) along with a power cord to class each day.  A financial calculator will be helpful for the exam.

Materials:

Fundamentals of Mass Appraisal textbook (FMA) (obtain from IAAO)

Dates: December 9-13, 2019 |

Instructor: Barry Couch, CAE

Fees: 2019 TAAD Member District: $490 | 2019 Associate/Affiliate Member : $540 | Non-member: $625 |

Credits: 30 CEs

Recommended Prerequisites: Course 300, a solid working knowledge of SPSS

Course 400

Assessment Administration

Description:

Course 400 provides fundamental management concepts for management and supervisory personnel in the assessor’s office. The course begins by emphasizing the need for management, and the various roles placed on the assessor and all supervisory personnel. The course then introduces the four major management functions (planning, organizing, directing, and controlling). Although the four functions are interrelated, a separate chapter is devoted to each one. This provides for a greater understanding of the major functions.

Materials:

Assessment Administration textbook (obtain from IAAO)

Dates: March 11-15, 2019 | October 7-11, 2019 |

Location for March 11: Harris CAD - 13013 Northwest Freeway, Houston, TX, USA

Location for October 7: Denton CAD - 3911 Morse St, Denton, TX, USA

Fees: 2019 TAAD Member Districts: $490 | 2019 TAAD Associate/Affiliate Members: $540 | 2019 Non-Members: $625 |

Credits: TDLR credit: 30 hours

Recommended Prerequisites: Course 101 and The Appraisal Foundation’s Uniform Standards of Professional Appraisal Practice (USPAP)

Course 402

Property Tax Policy

Description:

Course 402 offers students’ strategies for assisting in the effective formulation and implementation of tax policies and presents background enabling students to understand the context under which property tax policy is established. Students will be given analytical tools with which they can explain the effects of proposed property tax changes. They will be provided with a sound theoretical basis to guide decision-making and to assist in creating workable solutions for their jurisdictions. The course is designed for assessment administrators and students of taxation, as well as professional policy advisors who guide and make decision in the area of tax policy on a regular basis.

Materials:

Fundamentals of Tax Policy textbook (obtain from IAAO)

Credits: TDLR credit: 30 hours

Course 500

Assessment of Personal Property

Description:

The Assessment of Personal Property is designed to provide the students with an understanding and working knowledge of the procedures and techniques required to assess personal property. This course concentrates on the skills necessary for listing, appraising and assessing the market value of properties using the three approaches to value: the cost approach, the income approach and the sales comparison approach. The Assessment of Personal Property utilizes lectures, classroom discussion, and homework problems to emphasize the main concepts and procedures taught in the course. The ten sections of the course present a broad mixture of theory and practical application. Exercises are included so the student can test and reinforce new skills. Time is allotted for questions and answers throughout the course. Students are encouraged to participate actively.

Materials:

Property Assessment Valuation (PAV) textbook (3rd edition) (obtain from IAAO)

Dates: March 18-22, 2019 |

Fees: 2019 TAAD Member District: $490 | 2019 TAAD Affiliate/Associate Member: $540 | 2019 Non-Member: $625 |

Credits: 30 CEs AQB Approved: 33.5 CE with exam / 30 CE without

Recommended Prerequisites: Course 101, 102

Workshop 151

Uniform Standards of Professional Appraisal Practice (National)

Description:

This workshop covers materials from The Appraisal Foundation, Uniform Standards of Professional Appraisal Practice which includes: Definitions, Preamble, Ethics Rule, Record Keeping Rule, Competency Rule, Scope of Work Rule, Jurisdictional Exception Rule and Standards 1 through 3, and 6 through 10. Supplementary materials include The Appraisal Foundation Uniform Standards of Professional Appraisal Practice (USPAP). This workshop includes an exam.

Dates: September 3-4, 2019 | November 4-5, 2019 |

Location for September 3: Harris CAD - 13013 Northwest Freeway, Houston, TX, USA

Fees: 2019 TAAD Member Districts: $310 | 2019 TAAD Associate/Affiliate Members: $385 | 2019 Non-Members: $475 |

Credits: TDLR credit: 15 hours | IAAO recertification credit: 15 hours - 2 days

Workshop 157

The Appraisal Uses of Excel Software

Description:

The Appraisal Uses of Excel Software Workshop provides the participants with practical, hands-on instruction on the use of Excel to accomplish basic appraisal functions. Participants will be required to bring a laptop computer with a 2003 or 2007 version of Excel installed. They will be given a dataset and a student reference manual. The instructor will take them through a series of steps to achieve value estimates for a small dataset using the cost, sales comparison and income approaches to value. Each participant will be allowed to take the completed spreadsheets with them to use in their jurisdictions. This workshop does not include an exam.

Credits: IAAO recertification credit: 15 hours - 2 days

Workshop 158

Highest and Best Use

Description:

Highest and best use is a concept in real estate appraisal in which market value is achieved by the reasonably and probable legal land use that results in the highest value. Highest and best use is an essential step in the mass appraisal process and is necessary before market value estimates can be made. Local law may mandate preferential assessments according to specific land uses such as agricultural, historic and so forth rather than the highest and best use. This workshop is designed to provide students with a more in-depth study and understanding of the role and purpose of highest and best use in the appraisal process. Finally, there will be discussion of the unique situations that sometimes arise in a highest and best use analysis.

Credits: TDLR credit: 15 hours | IAAO recertification credit: 15 hours - 2 days | AQB Approved: 15 CE

Workshop 163

Marshall & Swift Cost Approach (Commercial)

Description:

This workshop is designed to teach participants how to utilize the Marshall & Swift Commercial Valuation Guide. Participants will spend more time working several case study problems to assist them in learning how to apply this service. This workshop includes an exam.

Credits: AQB Approved: 15.0 CE with exam/14 CE | IAAO recertification credit: 15 hours-2 days

Workshop 171

Standards of Professional Practice & Ethics

Description:

Learn more about the standards of professional practice and ethics in this one day workshop.

Dates: November 5, 2019 |

Fees: 2019 TAAD Member Districts: $220 | 2019 TAAD Associate/Affiliate Members: $275 | 2019 Non-Members: $360 |

Credits: TDLR credit: 7 hours | IAAO recertification credit: 7 hours - 1 day

Workshop 191

Uniform Standards of Professional Appraisal Practice Update (National)

Description:

This workshop is the National 7-hour USPAP Update offered for continuing education for licensure and certification through The Appraisal Foundation. The workshop provides a general overview of USPAP guidelines, advisory opinions, statements, and other appraisal practices. The course is updated every two years to address changes to USPAP and common misunderstandings. This workshop does not include an exam.

Dates: September 5, 2019 | November 6, 2019 |

Fees: 2019 TAAD Member Districts: $220 | 2019 TAAD Associate/Affiliate Members: $275 | 2019 Non-Members: $360 |

Credits: TDLR credit: 7 hours | IAAO recertification credit: 7 hours-1 day

Workshop 452

Fundamentals of Assessment Ratio Studies

Description:

This workshop provides a very basic introduction to the development and uses of assessment sales ratio studies based upon the IAAO “Standards on Ratio Studies: January, 2007.” The workshop covers the topics of sales analysis, sampling, and the development of assessment ratio studies. The workshop also includes material on managerial and technical issues, which include staffing, timing of studies, use of study results, statistical testing, and assessment regressivity and progressivity.

Credits: IAAO recertification credit: 18.5 hours - 2 ½ days

Recommended Prerequisites: Course 101

Workshop 552

Personal Property Auditing, Basic

Description:

This workshop provides a foundation for understanding basic financial records. Specifically to be discussed are those records relating to fixed assets. The balance sheet, depreciation schedule, and income statement will be described and discussed in much detail. Emphasis will be placed on the pertinent data relevant to the personal property appraiser. Through a case study, students will demonstrate understanding of how data from financial records connects to the information needed to appraise taxable property. This workshop includes an exam.

Credits: IAAO recertification credit: 18.5 hours - 2 ½ days

Recommended Prerequisites: Course 500

Workshop 553

Personal Property Auditing, Advanced

Description:

This workshop expands the understanding of financial records provided in the Basic Personal Property Auditing Workshop and presents advanced discussions of accounting and auditing theory as it relates to fixed assets. Capitalization and expense rules will also be discussed. The use of computers, including spreadsheets will be reviewed. An audit template spreadsheet is provided to students, instruction on its use back home will be covered through a case study. This workshop includes an exam.

Credits: IAAO recertification credit: 18.5 hours - 2 ½ days

Recommended Prerequisites: Course 500, Workshop 552

Workshop 850

CAE Case Study Review Workshop

Description:

This workshop provides a comprehensive review and case study for the valuation of commercial property. Participants are to have had at least the basic appraisal courses and have experience in the appraisal of residential property. This is not an introductory workshop. The workshop is approximately 25% lecture and 75% problem solving. There are seven sections consisting of: General Appraisal, Land Valuation, Cost Approach, Depreciation, Sales Comparison Approach, Gross Rent Multiplier and Ratio Studies and Statistics. During the final four hours of the workshop, the students will take a practice case study followed by approximately one-hour of reviewing the case study solutions. The practice case study has fifty questions and ten pages of narrative about the subject jurisdiction and subject property. There is no graded exam.

Credits: TDLR credit: 18.5 hours | IAAO recertification credit: 15 hours - 2 days

Recommended Prerequisites: Courses 101, 102, 112, 311 or 312, 400

Workshop 851

RES Case Study Review Workshop

Description:

This workshop provides a comprehensive review and case study for the valuation of residential property. Participants are to have had at least the basic appraisal courses and have experience in the appraisal of residential property. This is not an introductory workshop. The workshop is approximately 25% lecture and 75% problem solving. There are seven sections consisting of: General Appraisal, Land Valuation, Cost Approach, Depreciation, Sales Comparison Approach, Gross Rent Multiplier and Ratio Studies and Statistics. During the final four hours of the workshop, the students will take a practice case study followed by approximately one-hour of reviewing the case study solutions. The practice case study has fifty questions and ten pages of narrative about the subject jurisdiction and subject property. There is no graded exam. IAAO recertification credit: 15 hours-2 days

Credits: TDLR credit: 18.5 hours | IAAO recertification credit: 18.5 hours - 2 1/2 days

Recommended Prerequisites: Courses 101, 102, 400, 402