AIC National Conference Program

This presentation will illustrate changes in land values and market conditions during the following four phases: Project Announcement, Expropriation, Construction, and Completion. In doing so, it will highlight the nexus between the various phases and related market impacts, including the overall magnitude of the impact (i.e., is there a material scheme-related impact, minor or questionable impact, or no impact at all?).

In describing the changes in market conditions during each phase, I will highlight changes in various market metrics such as: profile of market participates/purchasers, rate of inflation, land assembly, development densities, development timing, and land values. Using the Eglinton Crosstown Project (west of Yonge St.) as an example, these changes will be compared to changes in the broader market over the same period in order to infer direct/specific scheme-related impacts.

Speaker: Mark Penney, P. App., AACI

For the last forty-five years, First Nations in Canada have been developing property tax jurisdiction on their lands, and since the early 1990’s it has witnessed remarkable growth: from five First Nations in two provinces, to now over 180 First Nations in every province except PEI. This growth has been coupled by increased commercial and residential development, especially in urban areas where there is often a shortage of developable land. Development and tax jurisdiction provides a significant economic and fiscal benefit for First Nation communities and adjacent jurisdictions.

The growth in First Nation property taxation is largely attributable to the work of First Nations leadership that are leading the way in expanding jurisdiction, the First Nations Tax Commission, which has provided leadership and regulatory support, and the involvement of key regional assessment service providers such as BC Assessment.

This presentation is designed to provide information to real estate professionals who are interested in real estate development occurring on First Nation Land and those specialize in many valuation sectors on the regulatory frameworks that support First Nation taxation. Special focus will be provided on the BC experience which has over 100 taxing First Nations, and recent expansion in Ontario.

Speakers: Bill Dawson, P. App., AACI and Trenton Paul, Director of First Nation Engagement and Law Review for the First Nations Tax Commission.

Sustainability and evevironmental, socal and gvernance (ESG) is a growing field in which more and more companies are becomng involved. This session will provide information on the global ESG directives, give status of the Canadian market, and present the approaches of other valuation organizations in other markets.

Speakers: Allan Beatty, P. App., AACI, Fellow and Ayda Chamcham, P. App., AACI.

Park lands valuation in “Acquisition” and “Disposition” scenario. Propert interets under valuation include fee simple, partial interest such as Statutory Right of Way, Lease and Licence.

Speakers: Melanie Shi, P. App., AACI.

Carbon markets should, and will, affect land values based on the capacity of the land and soil to sequester carbon. However, traditional appraisal techniques require an update to accomodate the complex models which measure and predict carbon sequestration. This presentation provides an overview of current research by the Ecological Forestry Research Institute which is examining how best to integrate carbon modelling and measurement within land appraisal.

Speaker: James Stephens, P. App., AACI, MRICS, P.Ag.

This presentation will engage the audiences in a discussion about why and how to measure the quality of Mass Appraisal quantitatively. Across Canada, jurisdictions rely on indicators such as the Median Assessment to Sales Ratio (Med ASR) and the Coefficient of Dispersion (COD) to assess the quality of property valuations. In some regions, additional metrics like the Price Related Differential (PRD) and the Price Related Bias (PRB) are employed to address equity concerns in assessments. In the Province of Alberta, a comprehensive approach is adopted, considering all of these indices to evaluate the quality of property assessments. Furthermore, the province has introduced a new web-based system that quantifies the quality of property assessments of each municipality and generates results in the form of percentages.

Speaker: Ning Zheng, P. App., AACI.

Problems with narrative appraisal reports in terms of consistency, CUSPAP compliance and clearly conveying the data and analysis in a report. The intent in preparing and delivering this seminar is improving the credibility of our reports and limiting liability through better report writing.

Speaker: Jim Rokeby, P. App., AACI.

Details to be announced.

This presentation will focus on best practices for right of way projects through out the world based on my experience servicing on the International Relations Committee as Chair and Vice Chair for the International Right of Way Association. Best practices will be focused on Australia, Great Britain, Mexico, Canada, US, Nigeria, and South Africa.

The intent is to discuss similarities and differences throughout the world on various real estate infrastructure projects. Potential topics will include the importance of using empathy and compassion when dealing with affected property owners, discussion on how compensation is paid when using eminent domain, expropriation, or compulsory purchase orders to secure the necessary property rights, differences in the market value standard versus the value to the owner standard and challenges associated in recruiting experienced right of way, land access and infrastructure real estate agents for projects. There will also be a discussion on the importance of engaging with major stakeholders and recognizing the significance of the Environmental, Social and Governmental factors on projects which includes staying abreast of legislative changes. Speaking of legislation, we will address the Uniform Relocation Act in the US which is a unique legislation and look at how other countries are looking to adapt some of these practices.

Additional topics will include a discussion on mental health and well being for affected property owners as well as the people who are hired to secure the necessary property rights. This will include a discussion on a 2022 survey that was conducted by the Compulsory Purchase Association in 2022 on mental health and well being. It will also be interesting to hear about the different terminology used throughout the world such as right of way versus land access and infrastructure real estate.

This session will offer up ideas for resources when reviewing best practices throughout the world and will include potential opportunities for those people who are considering working in other parts of the world.

Speaker: Gordon E. MacNair, P. App., AACI, SR/WA.

In this insightful fireside chat, Michael Murphy, P. App., AACI, P.Ag., B.Sc.(Ag.), B.Sc.(For.), will handle conversational questions and prompts from Shayne Maynard, SR/WA, to delve into the subtleties of property appraisal from the client’s perspective. Shayne will draw on Mr. Murphy’s extensive experience as the client who has seen numerous examples of how different appraisers tackle the same problem. Re-frame your understanding from that of the appraiser to a large Government Ministry dealing with property acquisitions, disposal, and expropriations of atypical properties. In this session, we will decode the unconventional and learn how to approach challenging assignments with a new perspective. With over 15 years of professional experience in appraisal and agrology, specializing in valuation services for agricultural, unconventional institutional, and remote properties, Michael brings a wealth of knowledge and unique insights from both the client’s and appraiser’s perspectives.

Key Discussion Points enlivened with real world examples:

1. Narrative in Appraisal Reports: Emphasizing consistency and the importance of putting the narrative story back into full narrative appraisal reports. Highlight the importance of telling a cohesive story so that your opinions, data, and rationale are understandable and meaningful to your reader, client and decision-maker.

2. Highest and Best Use Analysis: The opinion of Highest and Best Use is often misunderstood and can’t be overlooked as part of the appraisal process. The critical role of this concept is to ensure report consistency and relevance. Providing real-world examples where the highest and best use analysis was pivotal in determining the credibility of the appraisal report.

3. Scope of Work and Client Dialogue: The benefits of understanding and addressing client needs through effective communication.

The session will also draw on Michael’s extensive experience in areas like Appraisal Review, Real Property Appraisal, Litigation Support, Market Analysis, and Specific Claims, providing a comprehensive view of the appraisal process and its impact on various stakeholders.

Speakers: Michael Murphy, P. App., AACI, P.Ag., B.Sc.(Ag.), B.Sc.(For.) and Shayne Maynard, SR/WA,

We have entered the new era of energy consumption in transportation sector, and along came the electrification of cars and of course, the chagrins stations. Not many thought of this when the houses or condos were built, even going back 3 years ago. Now, the owners have to adapt their real estate to accomodate the extra charge that is needed for the chargins stations.

What does it mean from the cost prospectives?

What does it mean from feasibility point of view?

Will adding the charging station would increase the market value of the property?

If so, how much?

What types of charging stations exist and what are the basic differences?

All these questions and more will be covered in this presentation.

Speaker: Natalia Kourant, P. App., AACI.

Professional appraisers serve an important role within the real estate landscape in Canada, providing trusted, unbiased professional valuations to consumers. The Appraisal Institute of Canada (AIC) is the leading appraisal body that regulates, designates, and ensures consumers receive services from competent, certified, and regulated professionals.

In this presentation, we will outline how the experience of unbiased, knowledgeable appraisers presents an avenue for greater appraiser influence in the area of property tax appeals. Both perspectives from the public assessment and private consultant side will be provided in this presentation. The growth of property tax consultants has seen major growth nationally over the last decade. Additionally, with the implementation of new tax measures such as the Speculation and Vacancy Tax, and Empty Homes Tax, consultants are increasingly entering into these areas of real estate tax advisory.

However, the property tax consulting industry is largely unregulated in Canada. This lack of regulation in the property tax consulting industry raises concerns about potential conflicts of interest and the quality of advice provided to consumers. Without clear guidelines and oversight, it becomes difficult for consumers to determine whether they are receiving unbiased and expert opinions on property tax valuation.

In this presentation, we will bring perspectives from a current property tax assessor, a former assessor and manager with MPAC that is now licensed paralegal and consultant with a strong understanding of property tax case law and finally a private sector tax and appraisal consultant. These professionals bring a unique perspective as two of the panelists have worked on both sides of property tax, as well as within the property tax tribunal system as an advocate with the other as the appeal coordinator for the provincial assessing body.

The panel will look to provide insight on the following topics:

• Overview of the current property tax appeal landscape in Canada.
• Addressing the unregulated nature of the industry: What are the impacts of the growing cost of appeals on ratepayers, municipalities, the public and other stakeholders? Including administration, longer appeal hold-up times, increasing legal costs, qualifying impartial valuation experts etc.
• How can the AIC potentially act in an advisory, knowledge-based manner that will advance the public good in the capacity of real estate taxation and valuation.
• How can appraisers move principally from the role of expert witnesses to consultants, providing unbiased advisory services to address the complicated interplay of Fee Simple valuation, local legislation, and expertise on complicated matters of property valuation.
• The value of appraisers to bring knowledge and insight to make property tax appeals understandable to the general public. Outlining the case for appraisers to be seen as the primary experts and potentially cut down on increased administrative delays and costs that are a result of a growing industry of advisors who are not required to present any accreditation when representing clients.
• Differences in communication and approaches between appraisers, regular citizens, corporate owners, and unregulated tax agents.

Speakers:

• Travis Horne, P. App., CRA, AMAA, MAS, AIMA, LAAS
• Arunan Sivalingam, P. App., AACI
• Dayna Griffin, Licenced Paralegal

This session will present how the Ecological Gift Program works and will be followed by a review of the guidelines for appraising real property targeted for the EGP, including the appraisal review process followed by the Appraisal Review Panel.

Speaker: Andréanne Lavallée, P. App., AACI, É.A.

Many AIC members wish to diversify their practice yet have not been exposed to the types of files that will exploit their full potential. Take a deep dive and learn how to apply basic valuation theory to complex valuation problems. This seminar will use the Case Study technique and walk participants through the valuation of a Place of Worship (Sikh Temple) and Complex Commercial Lease Arbitration (Retail Market Rent Study). In addition, a Technical Review of a single-family residential report will illustrate the issues to be mindful of when the appraiser is called to appear before the Court. Residential and Commercial practitioners will walk away with an expanded understanding of advanced valuation theory as it applies to unique situations and better position themselves to compete in non-secured lending files.

Speaker: Demitry Omrin, P. App., AACI.