SDAAO

Sales Ratio

2007-06-01T08:36:00.000-07:00

I think that we need to have a discussion on "Market Value" as stated in USPAP and IAAO Property Assessment Valuation 2nd Addn. Just recently, at a Sales Ratio workshop with the DRR in Rapid City, it was mentioned that "RELATIONSHIP is not technically a valid reject reason" in determining Market Value. And, this was coming from what they were interpreting:
SDCL 10-11-56: Arms-length transactions included in departmental studies. Any sale which has been verified to be an arms-length transaction shall be included in the annual study. For purposes of this section, the term, arms-length transaction, means the transfer of property offered on the open market for a reasonable period of time between a willing seller and a willing buyer with no coercion or advantage taken by either party. The director of equalization shall analyze each sale to eliminate factors related to the sale which affect the sale price but which do not reflect the actual value of the real property.
Their stand on this is that it is not particularly stating "no relationship between buyer and seller". But, if you read USPAP guidelines, it states:
MARKET VALUE: a type of value, stated as an opinion, that presumes the transfer of a property (i.e., right of ownerchip or a bundle of such rights), as of a certain date, under specific conditions set forth in the definition of the term identified by the appraiser as applicable in an appraisal.
comment: Forming an opinion of market value is the purpose of many real property appraisal assignments, particularly when the client's intended use includes more than one intended user. The conditions included in market value definitions establish market perspectives for development of the opinion. These conditions may vary from definition to definition but generally fall into three categories:

the relationship, knowledge, and motivation of the parties (i.e., seller and buyer);
the terms of sale (e.g., cash, cash equivalent, or other terms); and
the conditions of sale (e.g., exposure in a competitive market for a reasonable time prior to sale).

I have spoken with a few people on this subject, and I believe that we should use the opinions of USPAP and IAAO and leave what we are already doing alone. I would like to know how everyone else stands on this.

Rownea Gerbracht, Perkins County

Above ground tanks

2007-05-17T08:39:00.000-07:00

We may as well get this "blog" about tanks going. In Harding County I do assess the large above ground propane tanks and the anhydrous tanks. I use Marshall and Swift to help find the value.

Shirley

Congratulations!

2007-05-16T06:02:00.000-07:00

On behalf of the Association, I would like to thank Kim and her districts for hosting such a wonderful conference, despite the water problem! Everyone I visited with had a good time!

Conference is a wonderful time to catch up with old (and new) friends. get educated, and relax a little after boards are over! Her educational sessions were informative, as were the vendors that were gracious enough to attend. The new technology out there is almost overwhelming and the vendors always help point out which would be a benefit to our profession.

Thank you to everyone who had a hand in providing us such a great time!

Darlene Piekkola

Congratulations!!!

2007-05-15T14:47:00.000-07:00

Congratulations to Kim and everyone who assisted her in the great 2007 SDAAO conference.
It was a great time and educational, too!! Good Job!
My congratulations also to all of the officers as they serve their next term. We as members do appreciate all your efforts and hard work!! Also, as members - we should all be there to support our officers if they are in need of anything!
Thanks to everyone for a great time!! Joyce

We Have A WONDERFUL ASSOCIATION

2007-05-15T12:06:00.000-07:00

Conference was a Wonderful Event!! Thank You KIM, and all those that helped you, for a wonderful time!! It was GREAT!!! I look forward to racing you all again in Deadwood and in Watertown, I hear that they both have good tracks. I hope to see more of the Association using our Blog. It is a good resource for all of us to take advantage of! Please feel free to let any of us on the Publication Committee know if you need anything! We are here for YOU! Once again, Thanks Kim!! We belong to a wonderful association!!!

Allison Jensen, CAA

Deputy Director

Butte County Equalization

blog lessons

2007-03-15T08:58:00.000-07:00

Maybe we should have the girls give everyone a lesson on blogging at conference? Janelle, Alison & Rownae will you give us all a quick lesson at conference? Kim

2007 Conference

2007-03-15T07:26:00.000-07:00

I just wanted to let everyone know that Kim is working fast and furious with her plans for conference this spring. We now have a registration form and agenda posted on our website. Follow this link http://www.sdaao.org/website/2007_conference.htm and you will find it. GOOD JOB KIM!!! ;) Rownea

IAAO Journal Article

2007-03-15T07:20:00.000-07:00

Just wondering how many of you have read the article in the IAAO Journal, Vol 3, Number 3, 2006, titled "A Spatial Evaluation of Agricultural Property Tax Inequity Associated with Productivity-Based Assessments." This is well worth reading especially since we are just winding down on a session with huge emphasis on a bill regarding productivity.
How many of you remember the 1999 and beyond pilot study for productivity valuation of ag land modeled after North Dakota? Drag out your old study and compare that with what has been stated in this article. Very, very interesting! Shirley

congratulations!!

2007-03-15T06:41:00.000-07:00

Congratulations girls - it is working and I think it is a wonderful idea! Thanks to all who had the great idea!!! It will work great to keep in touch with thoughts and ideas and assistance with statewide issues we all are interested in. Hat off to you!! Joyce

Problems?

2007-03-14T10:18:00.000-07:00

Hopefully this blog will help us in real time disscussions.