International Association of Assessment Officers
Article
International Association of Assessment Officers is a recurring organization in the Astral Codex Ten archive, appearing 2 times across 2 issues between December 09, 2021 and December 11, 2021. The archive places it in contexts such as “Source: 2017 PTAPP survey from the International Association of Assessment Officers”; ""the homepage of the International Association of Assessment Officers (IAAO), the international professional body for real estate assessors""; “International Association of Assessment Officers”. It most often appears alongside Albouy, Alexandra Elbakyan, Astral Codex Ten.
Metadata
- Category: Organizations
- Mention count: 2
- Issue count: 2
- First seen: December 09, 2021
- Last seen: December 11, 2021
Appears In
- Does Georgism Work? Part 1: Is Land Really A Big Deal?
- Does Georgism Work, Part 3: Can Unimproved Land Value be Accurately Assessed Separately From Buildings?
Related Pages
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- Albouy (2 shared issues)
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- Alexandra Elbakyan (2 shared issues)
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- Astral Codex Ten (2 shared issues)
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- ATCOR (2 shared issues)
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- Australia (2 shared issues)
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- Count Bla (2 shared issues)
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- Fortress Of Doors (2 shared issues)
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- George (2 shared issues)
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- Georgism (2 shared issues)
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- Georgists (2 shared issues)
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- Henry George (2 shared issues)
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- Henry George Theorem (2 shared issues)
External Links
Source Context
Recovered passages from the original issue text. When the raw archive preserved outbound links inside the source passage, they are listed directly under the quote.
Source: 2017 PTAPP survey from the International Association of Assessment Officers And for two, property tax assessments have all kinds of exemptions and carve-outs that serve to depress official statistics. Let's put aside Proposition 13's legacy in California for a second and just compare the sale history to the tax history of properties like this one in Manhattan:
Inline links: 2017 PTAPP survey, Proposition 13
But what about the other figure in the equation–the full market value of the real estate (land + buildings)? If the Federal Reserve is basing those figures off of assessed values, we have good reason to believe they are too low. For one, only a minority of US states and Canadian provinces re-assess property values annually.
Inline links: re-assess property values annually
Gwartney couldn't be more Georgist if he tried, so for balance, I looked up about a dozen research papers on the topic of land value assessment in Google Scholar, some of which are cited below. I also spent some time on the homepage of the International Association of Assessment Officers (IAAO), the international professional body for real estate assessors. Then I looked up the local policies of various appraisal districts in my home state of Texas to see how things are actually done in practice in my local area.
Inline links: International Association of Assessment Officers
International Association of Assessment Officers
Inline links: International Association of Assessment Officers
Georgists assert we're consistently undervaluing land basically everywhere I'll cover specific case studies where Georgism has been successfully tried in a future article. I'll just note here that solid examples that uphold the purported benefits of Georgism in the wake of an LVT policy would be good evidence for accurate (enough) land assessment being feasible–"what works in practice can work in theory." 1. The Basics of Assessment Pretty much everybody agrees on the basic algebraic formula for deriving land value: Total Value = Land Value + Improvements Value The total value is whatever the property actually sells for. The value of improvements is the value of all of the buildings and other permanent structures and investments that sit on top of the land. The land value is the value of the location itself and any of its natural endowments. When two factors are known, you can calculate the third, which is then known as the residual. The high level strategy for doing valuations thus becomes to use whatever evidence you have to get at least two of these values. From there you can simply deduce the missing residual. The quality of your assessments will depend not only on the method you use and the expertise of your assessment officers, but also on your local policies. The IAAO lists the following as "core principles" that local assessment policies should ideally have: Assessments based on market value
Inline links: core principles