The Texas Appraiser Licensing and Certification Board (TALCB) is inviting the public to provide input on a specialized assignment type where examples of peers’ actions are not readily available. This input will help the agency establish a framework to apply to all specialized assignments.

If you are knowledgeable about appraising Low-Income Housing Tax Credit Properties—those that have qualified for Federal Income Tax Credits under a program governed by Chapter 2306 of the Texas Government Code—or similar properties for ad valorem purposes, TALCB would like to hear from you. Those with a particular interest in a formal TALCB-issued opinion on this topic should also submit comments.

Comments that answer the following questions are particularly helpful:   

• In determining the market value of Low-Income Housing Tax Credit properties for an appraisal for ad valorem tax purposes, is it a recognized method and technique to deduct debt service when calculating the capitalized Net Operating Income? The USPAP standard for whether a scope of work is acceptable is when it meets or exceeds the expectations of parties who are regularly intended users for similar assignments, and what an appraiser's peers' actions would be in performing the same or a similar assignment. 
• How can an appraiser demonstrate that a scope of work meets or exceeds the expectations of regular intended users for similar assignments?
• How can an appraiser demonstrate that a scope of work is the same scope that their peers would utilize in the same assignment?

Submit comments in person at the next Board meeting on Friday, February 23 at 9:00 a.m. or email to general.counsel@talcb.texas.gov by April 1, 2024.