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 00:35

• • 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: president@iaao.org

  • Phone: +1 (612) 701-8410

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: jwatling@ipti.org

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