Do you need to know the real value of public property?
Municipal, provincial and federal government agencies count on AIC-designated appraisers for professional, comprehensive and independent opinions of the value of public properties. In fact, many AIC Members work within the public sector to advise various levels of government on real property decisions.
When would the public sector engage an AIC-designated appraiser?
Governments engage an AIC-designated member for issues related to:
- Market rent analysis
- Acquisitions and disposals
- Income tax
- Property tax valuation
- Highest and best use
- Machinery and equipment
- Expert opinion for litigation
- Review of appraisal
- Mass appraisals
What professional standards do AIC-designated appraisers follow?
AIC-designated appraisers are highly-trained and trusted professionals who adhere to the highest standards in the field of appraising: the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP). They can even provide expert testimony before judicial and quasi-judicial bodies.
CUSPAP align with European Valuation Standards and International Valuation Standards and are recognized internationally as acceptable standards for property valuation. Seven Standards have been developed to guide the professional practice of AIC members:
- Ethics Standard
- Appraisal Standard
- Review Standard
- Consulting Standard
- Reserve Fund Planning Standard
- Machinery and Equipment
- Mass Appraisal