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Assessment Matters by Valuebase.ai
By Will JarvisTechnology
Assessment Matters by Valuebase.ai episodes
- 44: Stewart Oliver - Challenges and Responsibilities in Assessment Administration
In this episode, Stewart Oliver, Chief Appraiser of Gwinnett County since January 2017, discusses his career transition from private appraisal to public service. He emphasizes the importance of data-driven decision-making and the challenges of managing a large county with extensive data. Stewart highlights the rise of tax representatives and the need for public education. He stresses the significance of delegation and triage in prioritizing tasks, especially with a high volume of appeals (19,000-21,000 annually). He also notes the evolution of technology, including smart systems and change detection, to enhance efficiency and accuracy in appraisal and assessment administration.
We cover:
- Introduction and Stewart Oliver's Background 0:01
- Transition from Private Practice to Public Sector 2:53
- Challenges and Responsibilities in Assessment Administration 7:26
- Prioritization and Delegation in Assessment Administration 13:35
- Impact of Tax Representatives and Public Education 15:47
- Future of the Industry and Technology Integration 22:07
- Advice for New Professionals in the Field 27:12
- Conclusion and Final Thoughts 28:53
30 min - 43: Corey Gillenwater - Labor to Data Pipeline and Mobile Technology
In this episode, Corey Gillenwater, interim chief appraiser at Chatham County, discusses his transition from IT to appraisal, emphasizing the importance of technology in enhancing efficiency. He highlights the office's strong culture, customer service, and the challenges of recruiting and retaining staff. Gillenwater details the shift to mobile technology during COVID-19, implementing Woolpert Mobile Assessor to improve field operations. He also addresses knowledge transfer issues, stressing the need for internal training and teamwork. The conversation covers the importance of public education, the role of large language models in customer service, and the necessity of understanding market areas and property valuation processes.
We cover:
- Corey Gillenwater's Background and Role 0:01
- Approach to Office Culture 1:18
- Feedback and Recruiting Challenges 5:33
- Transitioning from IT to Appraisal 8:29
- Labor to Data Pipeline and Mobile Technology 9:51
- Knowledge Transfer and Training 18:56
- Customer Service and Public Education 24:04
- Large Language Models and AI in Customer Service 30:58
- Public Understanding of the Assessment Process 33:24
- Advice for Newcomers in the Field 35:53
40 min - 42: Roderick Conley - Use of Technology and Market-Adjusted Costs
In this episode, Roderick Conley, Chief Appraiser for Fulton County, discusses his career transition from real estate to assessment, emphasizing the importance of education and networking. He highlights his roles in DeKalb, Chatham, and Fulton Counties, managing up to 370,000 parcels. Conley addresses staffing challenges, particularly parking costs and remote work logistics. He notes the impact of COVID-19 on remote management and productivity. Conley also discusses the use of market-adjusted costs and the benefits of aerial imagery for assessments. He mentions upcoming legislative changes and emphasizes the importance of continuous education and networking for assessors.
We cover:
- Introduction and Background of Roderick Conley 0:01
- Transition from Real Estate to Assessment 3:00
- Challenges and Opportunities in Staffing 6:40
- Use of Technology and Market-Adjusted Costs 12:14
- Legislative Changes and Future Outlook 22:20
- Advice for Aspiring Assessors 26:17
- Final Thoughts and Contact Information 28:46
30 min - 41: James Werner - Operational Efficiency and Data Management
In this episode, James Werner, a GIS specialist and assessor, discusses his journey from fine arts to real estate and assessment work. He highlights his role in implementing GIS in Cook County, Indiana, and the challenges of working with large datasets. Werner emphasizes the importance of operational efficiency, automation, and data collection. He shares his experience with creating GIS maps for various projects, such as gentrification studies and small rentals. Werner advises newcomers to the field to gain hands-on experience, be open to learning, and not shy away from playing around with technology. He can be reached via Cook County's District Two website or LinkedIn.
We cover:
- Introduction and Background 0:01
- Transition from Art to Real Estate and Assessment 2:14
- GIS and Assessment Work 5:27
- Operational Efficiency and Data Management 13:32
- Advanced Analytics and AI in Assessment 27:03
- Project Examples and Data Visualization 30:22
- Challenges and Opportunities in GIS and Assessment 32:24
- Advice for Newcomers in the Field 33:09
- Final Thoughts and Contact Information 43:38
48 min - 40: Jake Parkinson - Challenges of Elected vs. Appointed Assessors
In this episode, Jake Parkinson, former assessor of Tooele, Utah, discusses his career transition from fee appraisal to mass appraisal, highlighting the challenges of running for elected assessor positions. He compares the pros and cons of elected versus appointed assessors, emphasizing the independence of elected officials but the difficulty of raising funds and public support. Parkinson details the shift from market-adjusted cost models to market-based models, noting the benefits of improved equity and reduced subjectivity. He also addresses the challenges of retaining talent in the assessing industry and offers advice for new assessors, advocating for collaboration and continuous learning.
We cover:
- Introduction and Conference Context 0:01
- Jake's Career Path to Assessor 1:43
- Challenges of Elected vs. Appointed Assessors 4:26
- Market-Adjusted Cost Methodology 10:10
- Transition to Market-Based Models 18:41
- Joining Value Base and Industry Challenges 21:06
- Advice for New Assessors 25:23
29 min - 39: Kyle O’Hehir - The Distressed Real Estate Credit Market
In this episode, we're joined by Kyle O’Hehir, Co-Founder and CTO of Constitution Lending, to talk about the distressed real estate credit market.
We cover:
Introduction to Assessment Matters podcast 00:00
Kyle’s background in finance and real estate 00:40
From commodities trading at a hedge fund to real estate assets
The distressed real estate credit market 3:13
Buying out debt from other lenders
Pursuing debt repayment to secure the real estate collateral
The post-COVID commercial real estate market 10:00
Increased opportunity in the distressed debt market
Influence from debt capital markets
Macro-level concerns: the impending debt “maturity wall” 13:52
Pre- vs post-COVID: the rise of non-bank lenders
Bank lenders have flexibility that non-bank lenders do not
How does this influence behavior around upcoming maturities?
Good vs bad distressed debt deals 20:53
Preliminary screens: quality of underwriting and default rate
Subsequent modeling
Evaluating real estate value as part of due diligence 24:44
Kyle’s most memorable deal 27:44
How to reach Kyle 35:28
@financeguy725 on Twitter
Other podcast appearances
38 min - 38: Doug Kirkpatrick: Insights from a Veteran County Appraiser
In this episode of the "Assessment Matters" podcast, host William Jarvis sits down with Doug, a seasoned county appraiser with over 35 years of experience. Doug shares his insights on the evolution of the GAAO summer conference, the challenges and strategies of property valuation and appeals in a small county, the importance of empathy and customer service in the assessment profession, and the future trends in real estate and technology integration. The conversation provides valuable perspectives for both new and experienced professionals in the property assessment field.
Notes:Covers Doug's extensive career journey, working in various counties and roles within the assessor's office
Highlights Doug's approach to dealing with property owners during revaluations, emphasizing the importance of empathy and clear communication
Discusses the potential issues with inflated tax estimate notices and the need to encourage reasonable appeals
Explores the impact of remote work and technology on the real estate market and assessment practices
Provides career advice for new office workers, encouraging dedication and a commitment to serving the community
Touches on Doug's ideas for leveraging technology, such as integrating Google Street View and capturing realtor listing data, to improve assessment processes
49 min - 37: Rebecca Malmquist – An Interview with IAAO President for 2024
In this episode, we're joined by Rebecca Malmquist, City Assessor at the City of Minneapolis and IAAO President for 2024. We talk about nurturing the next generation of assessors, the challenges faced by the assessment industry, as well as her vision for IAAO.
We cover:
Introduction to Assessment Matters podcast 00:00
Rebecca’s bio and big ideas 01:09
Rebecca’s experience in construction, urban planning, and assessment/appraisal
Creating opportunities for growth and professional development
Nurturing new blood in the assessment industry 4:01
The needs of both younger entrants and older people switching careers
The power of one-on-ones: understanding people on a more holistic level
Meeting people where they are at — being ready for people when they are ready
Big ideas for IAAO strategic initiatives 6:55
Creating inclusive spaces for more talent
Nurturing a new generation of professionals and leaders from more diverse and outsider backgrounds
Matching people with the mentorship they need — LaunchPAD
Challenges faced by the assessment industry 11:39
Recruitment and retention — retirement waves and generational needs
Resources — learning more from each other for more efficiency
Readiness — being prepared for ever-arising challenges
More on recruitment and retention 14:18
Provide as much flexibility as possible
Remote/hybrid working models
Getting leaders and local communities to better understand the importance of the assessment industry
Collaborations and partnerships with IAAO 19:48
Valuable academic and educational work
Building trust between associations, and public trust around the world
What IAAO legacy does Rebecca want to leave behind? 20:57
A better and more open association
Advice for newcomers 22:22
“Find the path of joy”
How to contact Rebecca 23:28
Email: [email protected]
Phone: +1 (612) 701-8410
25 min - 36: John Watling – Assessing the Commercial Office Sector in 2024
In this episode, we're joined by John Watling, Director at the International Property Tax Institute. We talk about the state of the office industry, related macroeconomic concerns, and relevant challenges for property assessors.
We cover:
Introduction to Assessment Matters podcast 00:00
John’s bio and big ideas 00:35
John's experience in property valuation and property tax policy
The state of the office property sector and related challenges faced by assessment agencies
The state of the office industry 4:57
The effect of the pandemic on offices as an asset class
WFH dynamics and high vacancy rates — supply outstripping demand
Bifurcation in the market depending on building quality
Occupancy levels within offices — only 40-50% even for in-office
Lagging factors: pre-leased offices in delayed construction finishes
Short term macroeconomic concerns 16:32
Outstanding loans vs lowered valuations and higher cap rates
Increased hesitance in bank lending
Challenges for assessors 19:36
Due diligence required for financial information and sales investigations
Importance of local knowledge: owners, tenants, brokers, third-party reports
Not being swayed by distressed and/or bankruptcy sales
Let the actual data—not speculation—drive results
Relevance of office portfolios to municipal tax revenues
How to contact John 23:28
Email: [email protected]
25 min - 35: Alex Armlovich – Housing Shortages, Growth Controls, & Property Taxation
In this episode, we're joined by Alex Armlovich, Senior Housing Policy Analyst at the Niskanen Center. We talk about the housing shortage’s impact on affordability, the harms of growth controls, and the significance of property taxation in housing policy.
We cover:
Introduction to Assessment Matters podcast 00:00
Alex’s bio and big ideas 00:35
Alex’s experience in housing policy at both the state and federal level
Unlocking supply barriers to grow the supply of housing
What’s up with housing? 1:52
Growth controls in the 20th century
Collision of growth control with sprawl limits (both legal and physical)
COVID exploding housing markets in secondary cities
The bottlenecks of housing production
Competing interests and concerns in housing politics
Why does property tax policy matter for housing? 6:40
Land Value Tax — taxing land vs improvements
Intersection of procedural costs, assessment regimes, and tax policy
State of municipal property taxation in cities such as Philadelphia and New York 10:26
History of interest groups and power
Ongoing lawsuits regarding equity and constitutionality
Timeline and optimism for fixing housing and property taxation 15:22
Policy changes vs material progress
Horizontal vs vertical equity in shifting taxation
How to contact Alex 18:16
Twitter: @aarmlovi
20 min
About Assessment Matters by Valuebase.ai
From the publisher's feed
Assessment Matters presented by Valuebase is a weekly show that delves into the world of real estate valuation and property assessment. Our expert guests share their insights on the latest trends and…
techniques in the field, and offer practical advice for professionals in the industry. Whether you're a seasoned appraiser or new to the field, you'll find valuable information and inspiration. From understanding mass appraisal methodologies to staying up-to-date on the latest technology, our podcast is a must-listen for anyone interested in the world of real estate valuation.