e-Learning

This workshop assumes that attendees have participated in/or have a solid understanding of topics covered in MA301 and MA302. Scope will include land model with market derived depreciation (SPSS), land model with residuals (SPSS), model comparison (SPSS), land model with market derived depreciation (R) and land model with residuals (R).

The objective of this webinar is to provide participants with a general understanding of the fundamentals of the Cost Approach to Value.  Discussion will focus on the process involved in developing values using the Cost Approach; the appropriate application of this method and the advantages and challenges associated with its use.

In this second of two panel discussions dealing with the effects of the COVID lockdown our panelists will consider the market realities associated with four particular market sectors.  Retail – Office – Hotels - Long-Term Care Properties. As an example, this situation has the potential to have a catastrophic economic impact on hotels in general and especially those geared to tourism.  As low as 10% occupancy has already been observed in some cases and there is no knowing what the long term effects will be for this property grouping. Commercial tenants and owners are looking for solutions that are sustainable in the short term and adjustable and viable in the longer term, these could include among other things, rental abatements, rent payment deferrals, lobbying governments for property tax relief.  Assessors need to be aware of and incorporate the current market conditions into their ongoing analysis. Broad overarching inferences should be avoided as they don’t serve to describe with precision the elements currently affecting value and therefore cannot appropriately inform any effective action. Data driven sector specific observations provide the basis for productive discussion and serve to inform valuation decisions both now and as the situation evolves.

PREAMBLE:  This first of two panel discussions dealing with the effects of the COVID lockdown will examine how municipalities and assessing authorities are responding to the COVID-19 crisis by making changes to both tax policy and assessment policy.  We will also discuss these policy issues from a taxpayer perspective. Property taxes have featured significantly among the many financial support packages that governments have put together to try and assist businesses and individuals to get through the devastating impact that the response to the virus is having on all economies. Some Assessing authorities have delayed their revaluation cycle. There are difficult decisions to be made by those trying to balance the adverse economic impact of the lockdown measures on people and businesses with the need to generate sufficient revenue to continue to provide essential local services, the demand for which has increased in many cases due to the pandemic. Our panel discussion will focus on the position in Canada, but also see how changes being made in various provinces compare with changes being made in selected jurisdictions around the world.

This webinar provides the attendee with an understanding of how to measure model results and ensure consistent and equitable predictions. Topics include the purpose and role of ratio studies, determining the level of appraisal, horizontal equity vertical equity, international standards, sample vs population - the issues to avoid

PREAMBLE: Whether it is the gradual depletion of the asset in or on the land, as with the minerals contained in mines or the aggregate held in gravel pits, or the decrease of available land as a landfill site progressively reaches its capacity, the viability of these sites as going concerns in their present state may be affected.  This Webinar will examine the effect if any that these diminishing assets have on the property’s value.  How machinery and storage areas are treated in the valuation process will also be discussed.  Site reclamation and remediation at the end of the    productive cycle is another phase in the valuation of these properties and requires careful consideration of the market’s potential acceptance of these reclaimed sites as viable and part of the group of similar properties available for use and exchange.  This Webinar will provide in-depth information on the relevant inputs associated with the valuation of these properties as well as practical steps to follow in developing their market values.

PREAMBLE: Ports, Airports and Railyards present unique valuation challenges for assessors and fee appraisers alike. These major transportation hubs provide a vital public service and are important economic drivers for the regions they are located in. They often have some level of government regulation and control to ensure uninterrupted and safe passage for both people and goods. Grant agreements between airport authorities and municipalities based partly on typical passenger loads - port authority container ship activity and the port’s ability to accommodate the much larger New Panamax ships introduced recently into service, provide a glimpse of the complexity associated with valuing these properties. This webinar will explore the analysis techniques, market considerations, regulatory directives and the economic climate (both micro and macro) affecting the value of the properties. The focus will be on the practical application of these inputs to determine a final value.

The valuation of Entertainment Properties is not a straight-forward proposition. Sports arenas/stadiums, racetracks, theatre/performing arts centres, are just a few examples of the diverse nature of this property group. Attendance and concession revenue, design trends and competition are examples of factors contributing in some way to the value of these properties. This Webinar will provide participants with in-depth review of typical valuation methodology associated with these properties. It will also discuss practical steps in the analysis required to identify and quantify the complex and varied factors that affect the value of these properties. As with other unique property groups, the viability and popularity of the activity taking place at the property is intrinsically tied to the real value of the property itself.

PREAMBLE:  The valuation of property that is subject to some form of contamination is particularly difficult. Much depends on the nature of the contamination/impairment and the type, and cost, of necessary remediation works. This webinar will look at the background to environmental impairment, the valuation standards that apply to contaminated properties, and how valuation methodology needs to be adapted to meet the demanding requirements for this type of work. It will look at issues concerning the highest and best use of the property as impaired and consider how the three main valuation methods - sales comparison, cost and income approaches - need to be adapted to reflect the contamination. In addition to looking at the cost of necessary remediation works, they will also consider the liability impacts, use limitations, and possible stigma attaching to contaminated properties. The webinar will also cover how to deal with such properties within a mass appraisal environment.   

The webinar will provide the attendee with a  better understanding of the valuation principles pertaining to leisure properties. Categories and types of leisure properties will be discussed including resort hotels, golf facilities, marinas and casinos. Various valuation approaches will be considered, with emphasis on the application of the income approach.  Property valuation procedure overview will be provided.  Data collection, identification of non-assessable components, analysis of revenue sources and expenditures will be covered. Appropriate analysis of capitalization rates and derivation of value for leisure properties will be discussed.

The first in a series of seven interactive webinars, this 90 minute webinar will provide online practical skills and provide the participant with a general introduction to mass appraisal to include topics such as mass appraisal vs single property appraisal, computer assisted mass appraisal (CAMA), mass appraisal and 3 approaches to value, the steps in the process, measuring mass appraisal performance and the skills and technology required.                        

The cost approach relies for its justification upon the “principle of substitution’ which states that the purchaser of a property will not pay more for it than it would cost to provide an alternative property of similar functional utility. An assessor ‘s valuation needs to address the following question: How much would it cost to replace the existing property with an equally desirable and functional alternative? This requires an understanding of  the cost to replace the functionality and utility of the property.  In this webinar, the presenters will discuss this important issue, share their experiences in dealing with properties and  the identification and analysis of function and utility of the cost approach

The correct method of property assessment valuation of Big Box stores has been challenging and controversial. There is a tremendous amount of discussion taking place regarding an appropriate valuation methodology. Appeal tribunals and courts have made significant rulings based upon what has been labeled the “Dark Store” approach, causing significant challenges for taxing jurisdictions who were caught off-guard and must issue large refunds after the fact. The presenters will share their experiences on the landmark changes in the assessments without the use of typical  adversarial process. A valuation methodology including practical examples will be discussed.

The use of mediation to settle disputes is on the rise and has become an accepted process for resolving valuation and property tax conflicts. All parties involved in the mediation and negotiation process are expected to actively participate in the process, however, the role of the assessor and the expert is not always clear . The questions that commonly arise are: Is the issue sufficiently complex to retain an expert?  Why obtain an expert and what would that expert’s duties be? What is the appropriate behaviour? What preparations are required? What is the role of the expert? This webinar will attempt to answer these questions and clarify the role and responsibilities of the assessor and the expert .

The valuation of land for assessment purposes is always a challenging and difficult process. The issue of highest and best use of the land as if vacant and as if improved will be discussed. Focus will be given to the methodology of derivation of value for the land, as vacant, with the primary application of the sales comparison approach.

Practical examples of the valuation of a typical parcel of land will be included.

Litigation and property taxation disputes require the participation of an expert witness and advocate, typically legal counsel. An understanding of the respective roles, interactions and communications between the expert and legal counsel is necessary. Experts who are responsible for preparation of a report, and providing evidence at a hearing, may be concerned about interaction with legal counsel and their valuation being questioned by opposing legal counsel at a hearing. This webinar will cover the “ins and outs” of preparing for a hearing, including the role of the expert witness and the advocate, how they should co-operate and work as a team without jeopardizing the independence of the expert witness, and the expert's ability to provide appropriate evidence. The rules governing the use of experts, preparation of the expert's report, and recommendations as to what to include in the report, will be discussed. Communications and discussions between the expert witness and the legal team, including analysis of the strengths and weaknesses in the valuations of both sides, will also be considered.

This webinar will focus on the application of the cost approach and whether the cost approach, if appropriately applied, can determine an accurate current value. Emphasis will be on the derivation of value for single and special purpose properties.  The presenters will discuss whether the cost valuation methodology, as it is typically applied, is capable of providing a realistic estimate of value. The application of the market sales and income approaches will be discussed. The challenges dealing with the ability to estimate a replacement cost new and depreciation allowances will be discussed.

This webinar will familiarize attendees with property tax policy considerations and options that are typically confronted by Provincial and Municipal policy makers. Both international and local perspective and practice will be discussed. The webinar participants will be exposed to a conceptual framework that assists structure policy choices referring to lessons learned from other jurisdictions.

The guidelines in terms of simplified DO’s and DONT’s will be provided.

The basic principles and concepts of municipal assessment and taxation will be discussed including introduction to  property tax policy, tax rates and bills, the assessment valuation, stakeholder role, interaction and appeals.

This webinar will cover fundamental concepts and applications of mass appraisal processes relative to the valuation of residential and selected commercial properties. Mass appraisal concepts and the differences between single property appraisal processes will be discussed. Analysis of highest and best use, data collection and fundamental market analysis will also be covered. Building valuation models and calibration of models applicable to the cost approach as well as market sales comparison approach will be discussed.  Multiple regression analysis, the direct sales comparison approach and applicable model calibrations will also be addressed

This course is designed to provide an introduction to office building valuation for assessment purposes, using the direct capitalization method. This course will provide a practical valuation guide for office building valuation specific to collecting data, analyzing the information, developing valuation parameters, completing the valuation process, estimating market value, and ensuring quality of assessment values.

This course is focused on the fundamental concepts and applications of mass appraisal processes relative to the valuation of residential properties. In a series of online lessons, this course will focus on the differences between mass appraisal and single property appraisal concepts, highest and best use, data collection, fundamental market analysis, measuring mass appraisal performance, the appeal process, and the use of technology. Valuation model building and calibration of models will be discussed, in addition to a model testing the quality control process.