News: Finance

Rhode Island chapter of the Appraisal Institute "goals and needs"

The RI Chapter of The Appraisal Institute under the guidance of its president, has prepared and e-mailed to its membership a survey to assist the chapter leadership to embrace their "Goals and Needs." To that end it is our intention to develop several "helping hands" toward gaining designations for our membership by establishing teams to achieve the following; SRA/MAI Designations *Team Leaders responsive to membership; *Educational requirements and where to locate them; *Experience requirements, what's acceptable, what's required; *Preparation for comprehensive examination; *Demo reports. Requirements, type property, where to begin; and *How do I find the time? Memberships/retention and participation in meetings and other chapter activities is essential for a vibrant organization. RI is developing "special projects" sub-committees lead by associate members i.e. technical, website scholarship, and present ideas to the board of directors. Increase associate participation in all standing committees. Explore and develop joint meetings with other like-minded organizations (RI Bankers Association, RI Tax Assessors Association, RI Association of Realtors, Commercial Division, etc.) "Networking" is a necessary ingredient to a successful business organization. While the R.I. Chapter leadership is dedicated to beneficial change for our membership we must do one "thing" at a time and do it well! Michael Tarello is the 2011 Rhode Island Appraisal Institute chapter president, East Providence, R.I.
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Columns and Thought Leadership
Are appraisers on the same page as the assessor? - by Richard Seman

Are appraisers on the same page as the assessor? - by Richard Seman

The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Massachusetts real estate transfers  over $1 million face new tax rules as of November 1st - by Daniel Meyer

Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer

Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
The focus on price per s/f compared to the  comparable sales used in the appraisal report - by Dennis Chanski

The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski

Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.