Class and Hotel Details

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Real Property Appraisal (18 hours)

Contact for Questions: Center for Local Government Technology Assessor Accreditation Program; Program Manager, Jennifer Santino, jennifer.santino@okstate.edu, (918) 470-3831

Course Description – Unit II Real Property Appraisal
• Appraisal of real property consists of three (3) approaches to achieve market value regardless of mass appraisals or fee appraisals
• Unit II covers the theory and techniques of estimating value by both the cost and sales comparison approach.
• The course is one of two courses for Oklahoma Initial Accreditation.
• It is designed to meet the statutory requirements for accreditation for elected Assessors, First Deputies, and all personnel involved in the appraisal of property.
• Successful completion will allow students to apply the Cost and Sales approaches to value in their respective counties.

Learning Goals / Objectives
Upon completion of the course, learners will:
1) Learn how to discover and locate real property using various parcel locational systems and maps
2) This course covers land valuation to include five different methods of valuation
3) The cost approach is treated in depth including the estimation of depreciation.
4) Students will learn practical applications of valuation of various types of real property using the sales comparison approach to value.

Skills Developed
1) Estimate market value using the Cost Approach to include:
a. Estimate Replacement Cost New (RCN)
b. Estimate accrued depreciation of improvements
c. Estimate Land Value
2) Estimate market value using the Sales Comparison Approach to include:
a. Determine what property characteristics contribute value
b. Research sold properties to determine comparable properties to the subject property
c. Use Paired Sales Analysis to determine the contributory value of elements of comparison d. Apply adjustments to comparable sales
e. Determine market value of subject property based on adjusted comparable

Who Should Attend:
County Assessors and Deputies
Oklahoma Tax Commission Ad Valorem staff
Other county employees may attend
Contractors for County Assessors

Instructor Information
• B.S. degree is required in Education, Engineering, Technology, Business, or other related degree programs
• Relevant experience in property appraisal, property assessment, mass appraisal, theory and methodologies, and Oklahoma Ad Valorem law

Course Materials and Equipment
• A course student manual is furnished along with several handouts to include helpful study aids, problems pertinent to the several chapters, math exercises, and homework packets for preparation for the exam.
• Students need to furnish a battery operated calculator.

Expectations and Requirements
• Attendance: A student must attend at least 75% of the class hours in order to be eligible to take the exam.
• Participation: It is recommended for the students to actively participate in the class room discussions and work on the assigned class room exercises and the assigned homework.
• Safety: It is imperative for students to be aware of safety issues and not classroom cause disruption to the learning environment of others attending.
• Technology: [If online] Participants should have a stable internet connection, microphone, and web cam.

Registration Information
Cancellations / Substitutions: Cancellations may be made and CLGT should be notified as soon as possible to accommodate others on a wait list. Participants who cancel can send a substitute.
In the event of a class cancellation due to extenuating circumstances, OSU/CLGT will not be responsible for any cancellation fees incurred by participants, including charges from hotels or conference venues.

Accessibility and Accommodations
The Oklahoma State University Center for Local Government Technology (OSU-CLGT) is committed to providing accessible learning experiences. Please contact CLGT at atap@okstate.edu / 405-744-6049 prior to the course start date to discuss accommodation needs.

Anti-Discrimination Policy
The Oklahoma State University Center for Local Government Technology (OSU-CLGT) is committed to maintaining an inclusive, equitable, and respectful learning environment for all participants. In accordance with the International Accreditors for Continuing Education and Training (IACET) Standards, OSU-CLGT ensures equal access to its programs, services, and educational opportunities without discrimination or harassment.
OSU-CLGT prohibits discrimination or harassment based on race, color, religion, creed, sex, gender identity or expression, sexual orientation, national origin, age, disability, marital status, veteran status, genetic information, or any other status protected by applicable federal or state law. All learners, instructors, and staff are treated with fairness and respect and are evaluated solely on relevant merit, qualifications, and performance.
Concerns or complaints regarding discrimination or harassment may be reported to the Oklahoma State University Office of Equal Opportunity at 405-744-9154 or via email at eeo@okstate.edu. All reports are handled promptly and, to the extent possible, confidentially. Retaliation against any individual who reports a concern or participates in an investigation in good faith is strictly prohibited.