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USPAP 2018-2019 Edition

© The Appraisal Foundation

IV

FOREWORD

8. Revision to illustration in Advisory Opinion 21,

USPAP Compliance

– The Board adopted the addition of a

new graphic in Advisory Opinion 21,

USPAP Compliance

, as proposed in the Third Exposure Draft, and it will

replace the chart

beneath

the longstanding “ovals.” The new chart better illustrates the relationship between

Valuation Services and Appraisal Practice.

9. Creation of Advisory Opinion 37,

Computer Assisted Valuation Tools

– The Board created Advisory

Opinion 37,

Computer Assisted Valuation Tools

, as proposed in the Third Exposure Draft. The new Advisory

Opinion addresses an appraiser’s obligations when relying upon adjustments, trend analyses, or other

information generated by software or various online services.

10. Revisions to Advisory Opinion 31,

Assignments Involving More than One Appraiser

– The Board adopted

revisions to Advisory Opinion 31,

Assignments Involving More than One Appraiser

, as proposed in the Third

Exposure Draft, to help clarify guidance related to significant appraisal assistance.

11. Revisions to Advisory Opinion 1,

Sales History

– The Board adopted revisions to Advisory Opinion 1,

Sales

History

, as proposed in the Third Exposure Draft (with deletion of lines 1749-1752), to help clarify guidance

related to an appraiser’s proper analysis and reporting related to a subject property’s prior and pending sales

and current listings.

12. Revisions to Advisory Opinion 32,

Ad Valorem Property Tax Appraisal and Mass Appraisal Assignments

The Board adopted revisions to Advisory Opinion 32, A

d Valorem Property Tax Appraisal and Mass

Appraisal Assignments

, as proposed in the Third Exposure Draft, to reflect the adopted changes to

STANDARDS 5 and 6.

Administrative edits were also made to USPAP and all guidance material, including the

USPAP Advisory Opinions

and

USPAP Frequently Asked Questions

, for conformity and consistency. The details of the changes to the 2018-19

edition of USPAP can be read on The Appraisal Foundation’s website,

www.appraisalfoundation.org

in a document

entitled

2017 Summary of Actions Related to Proposed USPAP Changes

.