North Carolina Adopts Customary And Reasonable Fee Guidance Document

[EddieB]

So you're saying I have a chance...

 

[Meandering]

Love it

It really should not be difficult to change presumption 1. But we all know, including Tim and Joan, why it hasn't

We don't need to change Presumption 1.



We just needed a way to enforce Presumption 1



And just today, someone gave me the way to do that.

 

[Warren Sumner]

So, I attended the C&R meeting with Don Rodgers and Roberta Oulette today. I can tell you the folks at the NCREAA are great people and tremendous advocates for appraisers in this state. David Cozzarelli and crew are working hard to improve conditions for appraisers in this state. I found the appraisal board reps to be very professional and matter of fact. I think they listened to what we had to say and are trying to strike a balance in regulating this state's appraisal practice.

As we speak right now, the C&R legislation has no teeth. And I have to say I have little faith it ever will. Appraisers are kind of like Justin Bieber if he went to prison. He knows he's gonna get screwed, he's just not sure from what direction its coming.

We are going to lose this in the legislature. The NCREAA is doing their best, but we are the Ewoks going against the Stormtroopers; except the Stormtroopers will win every time. The NCREAA is relying on relationships, but the AMC and lender lobby will rely on Money. Get ready for another buttwhoopin at the state capitol. The last time we lobbied like this, it was the BPO legislation. We lost that 41-1.

 

[Eli]

You just have to go a different angle. Tax AMCs on their cut of the fee and the water won't be so murky. Now I am not saying asking for proof of presumption 1 wont do it too.

If you think money is the only factor at the state level..,. taxes will equalize at least the money part.

I focus on the public. I'm sure your State does too. I feel like I serve my client best when focusing on public trust in a market value assignment.

 

[timd354]

You just have to go a different angle. Tax AMCs on their cut of the fee and the water won't be so murky. Now I am not saying asking for proof of presumption 1 wont do it too.

If you think money is the only factor at the state level..,. taxes will equalize at least the money part.

Would not AMC's already pay corporate/income/business taxes in those jurisdictions in which they operate just like appraisers and any other business entity? If you are proposing that AMC's should also pay some sort of special additional taxes over and above what any other business in your state already pays, then what makes you think that the state would not also eventually subject appraisers to those same additional taxes?

 

[Eli]

Would not AMC's already pay corporate/income/business taxes in those jurisdictions in which they operate just like appraisers and any other business entity? If you are proposing that AMC's should also pay some sort of special additional taxes over and above what any other business in your state already pays, then what makes you think that the state would not also eventually subject appraisers to those same additional taxes?

I don't think so. See I am taxed on appraisal fees. I know some other states are similar in the way they tax appraisal fees. I know some heavy hitters are really pushing it with state legislators in more than one state. They are also ones who are hell bent on separation of fees.

There is an equitable argument they have along with a source of income for the state.

 

[timd354]

I don't think so. See I am taxed on appraisal fees.

The fact is that you don't actually know, do you? I would bet that whatever taxes business taxes that you pay are also levied on every other business in the state, including corporations that are registered to do business in TN like AMC's

 

[Eli]

The fact is that you don't actually know, do you? I would bet that whatever taxes business taxes that you pay are also levied on every other business in the state, including corporations that are registered to do business in TN like AMC's

I don't know but I assure you the heavy hitters I know who deal with lobbyist know. If you think somebody like a huge AMC in another state is being taxed the same as a local appraiser used to be on "appraisal fees", then your slower than I thought.

That is more than one way on being taxed too. Local sales taxes are also impacted. When I go to a local store, I am taxed again.

 

[Eli]

Timd, have you had many income capitalization type classes?

 

[Eli]