IAAO & RICS Announce Collaboration to Improve International Property Tax and Assessment Standards

NIAGARA FALLS (STL.News) – IAAO and RICS have agreed to work together to simplify and reduce fragmentation in the property tax and assessment industry.

The partnership solidifies the two organizations’ commitment to provide clarity in valuation for the public good and seeks to enhance resources for valuation professionals across all sectors.

“IAAO and RICS are dedicated to creating a property tax and assessment landscape that increases transparency and enhances the public trust,” said Tim Boncoskey, President of IAAO and Chief Deputy Assessor of Maricopa County, AZ. “The global scope of this collaborative effort will help to ensure a profession that works for everyone. A more transparent and consistent property assessment industry is crucial to socially and fiscally sustainable practices.”

The announcement was made on September 10th at the 2019 Annual IAAO Conference, held this year in Niagara Falls, ON, along with an announcement that the IAAO and the Korea Association of Property Appraisers (KAPA) had renewed a 10-year collaboration agreement, and reviewed the recently announced partnership between the IAAO and the Australian Property Institute.

The IAAO and RICS agreement exemplifies the approach being employed by both IAAO and RICS to empower professionals across the globe to create fairer, more beneficial outcomes for businesses, public institutions and individuals.

“RICS and IAAO are united in our belief that collaboration will benefit the property sector, the wider valuation industry and the public as a whole,” says Neil Shah, Managing Director of RICS in the Americas. “We’re committed to working together to ensure valuation professionals have the support and training they need to embrace future trends like big data and artificial intelligence while following international standards and building public trust.”

Background

RICS promotes and enforces the highest professional qualifications and standards in the valuation, development and management of land, real estate, construction and infrastructure. The RICS name promises the consistent delivery of standards – bringing confidence to markets and effecting positive change in the built and natural environments.

IAAO is the leading nonprofit, educational and research association for individuals in the assessment profession and others with an interest in property valuation and taxation. IAAO’s mission is to promote innovation and excellence in property appraisal, assessment administration and property tax policy through professional development, education, research, and technical assistance. IAAO currently serves more than 8,000 members worldwide.