AIC443 - Real Property Assessment Administration

Outline info
Semester
School
Last revision date 2017-09-22 12:22:43.629
Last review date 2017-09-22 12:22:43.63


Subject Title
Real Property Assessment Administration

Subject Description
This subject is the introduction to a comprehensive treatment of the major assessment/appraisal bodies of knowledge important in assessment administration. The valuation material begins with economic principles important in real estate appraisal and mass appraisal assessment. The appraisal process is characterized as applied economic analysis. The student is shown how to identify the best use of land through a study of trends in consumer demand,investigate supply and demand forces that effect property assessment and taxation and develop a valuation model that predicts the most probable selling price of many properties in the market. This will be the beginning of Year II of the Computer Assisted Mass Appraisal learning (CAMA).

Credit Status
This is a credit subject applicable towards the Appraisal Institute of Canada's CRA and AACI designations, as well as UBC's Diploma in Urban Land Economics. Successful completion of the AIC course components of the program also earns students 50-60 degree credits toward the Bachelor of Business in Real Estate Program (BBRE) offered by the University of British Columbia (UBC) and Thompson Rivers University (TRU).

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. List and describe the components of a property tax system.

2. Calculate property tax rates and describe the functions of a property tax assessor.

3. Describe general case law and statutory duties of a property tax assessor.

4. Discuss components of assessment administration - planning, budgeting and systems approaches to management.

5. Demonstrate an understanding of the difference between mass appraisal and single property appraisal.

6. Discuss what it means to specify and calibrate a mass appraisal model.

7. Describe, in general, land registration systems in Canada.

8. Identify the steps required to conduct an appraisal review for quality property tax assessments.

9. List and explain the technical requirements for reassessment valuations.

10. Describe, in general, different ways of land description, using computers.

11. Discuss how appraisal logic can be stated as an appraisal model.

12. Recognize the potential of computers for use in Mass Appraisal applications (CAMA).

13. Apply basic statistical methods used to check quality of assessment valuations.

Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.

To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on http://library.senecacollege.ca for further information regarding cheating and plagiarism policies and procedures.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.

Prerequisite(s)
None

Recommended
Foundations of Real Estate Appraisal AIC330 (BUSI330)

Note:  Students must successfully complete this course (AIC443) before registering for Computer Assisted Mass Appraisal (AIC444).

Topic Outline
Chapter 1 - The Ad Valorem Tax System
A Brief History of the Property Tax
Property Taxation Theory
Alternative Methods of Property Taxation and Assessment
An Overview of the Property Tax Around the World
The Importance of the Property Tax in Canada
The Future of the Property Tax

Chapter 2 - Real Property Assessment
Property Tax Assessments, Levies, and Rates
The Role of the Assessor
Real Property Assessment Systems
Policy and Administrative Features of an Effective Assessment System
Property Taxation by Province

Chapter 3 - Law and the Assessor
Statutory Interpretation
Property Assessment Law as a Branch of Administrative Law
Assessment Case Law

Chapter  - 4 Valuation Planning
Technical Requirements in Valuation Planning
Getting Started with a Revaluation
In-House Revaluation
Developing a CAMA System
Contracting the Revaluation Work

Chapter 5 - Mass Appraisal
Comparing Mass Appraisal and Single-Property Appraisal
Evolution of Computer-Assisted Mass Appraisal (CAMA)
Components of a Mass Appraisal System
Summary of Mass Appraisal Steps
Mass Appraisal Theory and Techniques

Chapter 6 - Computers in Mass Appraisal
Computer Hardware
Computer Software
Computer-Assisted Assessment and Appraisal
Software Components of a CAAS/CAMA System
Selecting a CAAS/CAMA System
GIS and CAMA

Chapter 7 - Data Collection and Management
Property Characteristics Data
Data Management
New Developments in Data Collection

Chapter 8 - Recording and Analyzing Property Sales Data
Land Information and Ownership Records
Sales Data
Cost Data
Income and Expense Data

Chapter 9 - Mapping System Management
Overview of Cadastral Mapping
Land Description and Map Referencing Systems
Base Maps
Parcel Identification Systems
The Use of Computers in Mapping
Mapping System Maintenance

Chapter 10 - Management Principles
Perspectives on Management
The Manager's Role
A historical Look at Management
Planning
Planning and Scheduling Tools
Budgeting

Chapter 11 - Organizational Structure and Personnel Management
Organizational Structure
Personnel Management

Chapter - 12 - Quality Control, Public Relations, Appeals, and the Publis's Right to Know
Quality Assurance and Quality Control
Data and Workflow Considerations in Quality Control
Valuation and Quality Control
Public Relations and Customer Service
Managing Appeals
Working with Publis's "Right to Know"

Mode of Instruction
Students learn through classroom lectures and hands-on assignments during classroom hours.  There are homework assignments.  Students must have ready access to a computer with Word for Windows in order to complete homework assignments.  Students have access to computers through the Microcomputer Centre or micro labs where applicable.

Prescribed Texts
Foundations of Real Property Assessment and Mass Appraisal, University of British Columbia. Includes a required Workbook.

Note:  Photocopied texts are not permitted.

You may order textbooks directly from UBC
https://secure.sauder.ubc.ca/re_creditprogram/bookstoreWPG/DipBooks.cfm?CFID=6174448&CFTOKEN=86110609

Reference Material
None

Required Supplies
Notebook or three-ring binder, paper, pens, highlighter, above noted text.

All students must have access to a personal computer when taking any Appraisal Institute course. You will find that a computer is a necessary tool in preparing and submitting your assignments, viewing your assignment answer guides, and for creating effective study notes to help you prepare for your examination. Students should also ensure that they have a high-quality printer (e.g., an inkjet or a laser) which will provide clear printouts of information from the Real Estate Division website.

All students must arrange for some form of Internet access. All of the Appraisal Institute’s courses offer numerous online course resources. Students should ensure they have Internet access prior to beginning their course work.

Promotion Policy

Grading Policy
A+ 90%  to  100%
A 80%  to  89%
B+ 75%  to  79%
B 70%  to  74%
C+ 65%  to  69%
C 60%  to  64%
D+ 55%  to  59%
D 50%  to  54%
F 0%    to  49% (Not a Pass)
OR
EXC Excellent
SAT Satisfactory
UNSAT Unsatisfactory

For further information, see a copy of the Academic Policy, available online (http://www.senecacollege.ca/academic-policy) or at Seneca's Registrar's Offices.


Modes of Evaluation
Since this is a professional credit course, marking standards reinforce professional practice by demanding legible, neat documents. Material should be grammatically correct as a result of accurate proof-reading, proper spelling and punctuation. Late assignments are penalized at the discretion of the instructor.

Students must pass the final examination to pass the course.

Absenteeism and Tests

  • Students should be aware that absenteeism will almost guarantee their inability to achieve satisfactory grades.
  • If you are absent for a test or examination due to an emergency (death in the family, motor vehicle accident – not a business trip) official documentation must be provided to the Faculty of Continuing Education and Training Program Coordinator’s office, fax number 416-756-4360, prior to the test or examination and no later than the following day.
  • Assignments, tests or examinations missed without official documentation and approval, see previous bullet, result in a grade of zero.

Note: The required pass mark for all courses in the Appraisal Institute of Canada Program is 60%.  This is also the required pass mark for the University of British Columbia.

Grading is based on the following marking scheme:   
Assignments 15%
Project No. 1 15%
Project No. 2 20%
Final Exam 50%

Project 1: Establishing the context for assessment:  15% of final grade.

This project requires students to apply concepts covered in the first half of the course towards several practical issues.  Students are then required to carry out a research project which involves examining the historical background and the evolution of an assessment organization in their area.  Students may carry out research in a variety of ways including:  the Internet, visiting the assessment office, and interacting with the organization's staff, in order to complete this project.

Project 2: Critical analysis of assessment functions:  20% of  final grade.
This project requires students to apply the concepts covered in the last half of the course towards several practical issues.  Students are then required to carry out a research project to analyze selected components of their local assessment agency and, in a report, make recommendations on how to optimize these components.  Students should interview at least one staff member from the assessment office.  They may wish to interview other real estate professionals in order to gain viewpoints on the aspects of assessment.

Final Exam:  Multiple choice and short-answer written questions:  50% of final grade.

Please keep this document for future reference.  It will be required if you apply to another educational institution and seek advanced standing.

Program Co-ordinator
Keith Chapin

Approved by: Jeff McCarthy