Appraising for The Appellate Tax Board – Expanding your scope of work services program

Appraising for The Appellate Tax Board – Expanding your scope of work services program May 3^rd, 2023 At Hilton Boston/Dedham Hotel Schedule of Events:

Luncheon 12:00 – 12:45 PM

12:45 PM Moderator - Tom Jensen

• Welcome Introduction – Explain Program Goals

• Thank the AI Chapter Partners & ATB Program Sponsors

• Explain the Program Structure

• Introduce Mike, Ellen, & Lane to Explain the Initial Assessment Process

12:55 PM Mike Tarello/Ellen Brideau/Lane Partridge

• Initial Assessment Process – Use of Fair Cash Value vs Market Value/Weight on the Income Approach

• Explain the Fiscal Year Periods (ie. FY 2023 is 7/1/22 – 6/30/23 what existed as of 1/1/22)

• Walk through an Assessor’s Property Card

• Explain Negotiations vs Decision to File at ATB for specific Fiscal Years and the Deadlines & Process

1:25 PM Steve Elliot

• Explain the MA ATB History, Structure, and Purpose

• Explain Difference between Formal & Informal Hearings

• Further Explain the ATB Process

2:00 PM Q&A

2:10 PM Coffee Break

2:25 PM Ken Gurge/Don Bouchard

• Explain how Appraisers, Attorneys, and either Assessors of Property Owners work in Teams

• Explain that Fiscal Year Appeal dates are Retrospective using January 1^st Effective Appraisal Dates/Requires the Use of Retrospective Data

• Explain Interrogatories, Appraisal Exchange Date, and Discovery for Trial/Hearing

• Explain Trial Preparation/Billing Hourly vs Fixed Fee for Appraisal

• Discuss Retrospective Report Writing Development/Weight on the Income Approach

• Explain Hypothetical Fee Simple @ FMR w/Stabilized Vacancy

• Suggest Qualified vs Quantified Adjustments for FMR Grid

• Explain Use of Stabilized Operating Expenses less RE Taxes

• Explain Loading Cap Rate with Tax Rate

• Explain Multiple Filing Years Use of Growth Rate Escalations for FMR and OpEx

• Explain Use of Life Expectancy Allocation for any CapEx Deductions

3:00 PM Steve Elliot/Ken Gurge

• Explain the ATB Trial Process/How the Trial Works/Rules of Trial

• Explain Qualifying the Witness (Appraiser)/Explain Direct, Cross, and Redirect Examinations

• Explain What’s Admissible or Not Admissible at Trial

• Discuss Whether CPA Charges are Considered in Loading the Cap Rate

• Have Steve Elliot explain what he likes vs doesn’t like to see in the appraisal reports

• Have Steve Elliot explain what he likes vs doesn’t like to see in trail process

What is the Estimated Time for ATB Decisions/Findings of Fact/Are they Final?

3:25 PM Q&A

3:35 PM Coffee Break

Property Types

3:50 PM Don Bouchard

• Retail Appraisal Report Development: Malls, Shopping Centers, Single-tenant NNN Leased

4:20 PM Rose Perrizo

• Affordable Housing Appraisal Report Development

4:35 PM Q&A/Discussions

5:05 PM Conclusion- Moderator Tom Jensen

Once Again Thank Program Sponsors

5:15 – 6:30 PM Cocktail Reception with Drink Tickets and Hors D ’Oeuvres/Networking