LEVEL 2 COURSES

INTRODUCTION TO INCOME-PRODUCING PROPERTIES
# 002-125 – 15 HOURS EXAM CREDIT
LEVEL 2, COMMERCIAL

This course introduces students to basic income producing property appraisal terms and procedures. This course builds upon basic appraisal theory and shows how the three approaches to value are applied in real life situations. The course starts with an overview of the market forces that influence buyers and sellers in income property. With this basic understanding in place, the course concentrates on the application of all three approaches to value for income property. Case studies demonstrating practical use of the appraisal methods in an assessment office are used extensively. This course is an introductory course and is appropriate for assessment officials with little or no exposure to commercial assessments.

Rock Island – May 5-7
Lisle – June 25-27

Cost: $230.00 member, $305.00 non-members

COMMERCIAL CONSTRUCTION
# 002-126 – 15 HOURS SEMINAR CREDIT
LEVEL 2, COMMERCIAL

This course will familiarize students with various types of commercial property, building classes, and how construction quality grade specifications determine value. The various steps involved in basic commercial construction, from site preparation through completion of the building, will be illustrated with slides of the construction of a commercial building. Working with and collecting information from blueprints basics will also be covered. When practical, a field trip will be part of this course.

Lisle – June 23-24

Cost: $230.00 member, $305.00 non-members

New Offering (Seminar Format)
MARKET FACTORS IN RESIDENTIAL VALUATION
# 002-128 – 15 HOURS EXAM CREDIT
#002-859 – 15 HOURS SEMINAR CREDIT
LEVEL 2, RESIDENTIAL

This course concentrates on the various influences on the valuation of residential property. Topics covered in this course include: graphing, concepts and types of markets, deed types, editing procedures, matching property characteristics to sales, factoring, trending, market derivatives and the cost approach, cost tables, depreciation, market derivatives and the sales comparison approach, time adjustments, and simple linear regression. This course is an intermediate course.

                     Exam                                                                               Seminar
      Rend Lake – October 15-17                                                East Peoria – August 4-5

Cost: $230.00 member, $305.00 non-members

PRACTICAL MATH FOR ASSESSMENT OFFICIALS
# 002-255 – 15 HOURS EXAM CREDIT
LEVEL 2, STATISTICS

This course focuses on basic mathematical functions that assessment official’s use regularly. Topics covered in this course include: mathematical symbols, decimals, addition, subtraction, multiplication, division, round of numbers, fractions, decimals, percentages, review of basic algebra, review of basic geometry, and ratios. This is an introductory course.

This course is not offered in the classroom format in 2003.

Cost: $230.00 member, $305.00 non-members
Special Notes: This course is also available in a home-study format. See page 26 for details. Students that have received credit for this course in the home-study format are ineligible for continuing education credit for the classroom format of this course.

NEIGHBORHOOD ANALYSIS
# 002-259 – 15 HOURS EXAM CREDIT
LEVEL 2, RESIDENTIAL

Students will learn the characteristics of neighborhoods and how boundaries are determined and influence value. Economic principles and their effect on neighborhoods will be addressed. The various neighborhood valuation techniques and the appropriate methods for analyzing a neighborhood will also be addressed.

Springfield – March 26-28

Cost: $230.00 member, $305.00 non-members

EVALUATING REAL ESTATE APPRAISALS
# 002-427 – 15 HOURS EXAM CREDIT
# 002-430 – 15 HOURS SEMINAR CREDIT
LEVEL 2, RESIDENTIAL

The purpose of this course is to acquaint the student with the knowledge and tools required to make an accurate review of an appraisal. The Preamble and Uniform Standards of Professional Appraisal Practice are utilized as a guide to test proper appraisal methodology and reporting procedures. Various aspects of the three approaches to value are covered so that the student has a grasp of some of the less often utilized materials. The second day will deal primarily with case studies where the student can review reports in class with the instructor’s supervision.

                      Exam                                                                             Seminar
        Springfield – March 26-28                                              Quincy – September 22-23

Cost: $230.00 member, $305.00 non-members
Special Notes: Students may receive continuing education credit for either the exam course or the seminar course, but not both.

APPEAL PRACTICE AND PROCEDURES
# 002-602 – 15 HOURS SEMINAR CREDIT
LEVEL 2, THEORY

Students will review the timing and jurisdictional issues related to the appellate process. Students will become familiar with the three common appeal types and develop an analysis framework for the two most common, uniformity and valuation; which is examined in detail and various analysis tools will be developed. The order of a Property Tax Appeal Board hearing will be discussed, as well as, burdens of proof, standards of review and a discussion of evidence. How to introduce and examine a witness/expert at hearing and understanding the difference between testimony as a witness and as an expert witness will be addressed. The course will conclude with a mock hearing.

Lisle – June 23-24
Springfield - March 24-25

Cost: $230.00 member, $305.00 non-members
Special Notes: Students that have received credit for IPAI’s course entitled “Preparation & Analysis of Evidence for the Appeal Process” are not eligible to receive continuing education credit for this course.

New Offering (Seminar Format)
ANALYSIS OF COMMERCIAL APPRAISAL REPORTS
# 002-620 – 15 HOURS EXAM CREDIT
# 002-625 – 15 HOURS SEMINAR CREDIT
LEVEL 2, COMMERCIAL

This course begins with a review of the income approach to value. This course then concentrates on the types of commercial reports, the body of the report, the valuation of land, the cost approach to value, the income approach to value, and the sales comparison approach as it pertains to commercial reports. The remainder of the course consists of a comprehensive case study.

                        Exam                                                                       Seminar
         East Peoria –August 6-8                                               Springfield – March 24-25

Cost: $230.00 member, $305.00 non-members
Special Notes: Students may receive continuing education credit for either the exam course or the seminar course, but not both.

New Offering (Seminar Format)
THE INCOME APPROACH: A DETAILED EXAMINATION
# 002-818 – 15 HOURS EXAM CREDIT
# 002-858 – 15 HOURS SEMINAR CREDIT
LEVEL 2, COMMERCIAL

This course is intended to provide students with a thorough review of the income approach so that they become very comfortable with the mechanics of the overall process. This course covers each step of the income approach in great detail. The discussion focuses on the income approach from the point of view of what an assessment official needs to know to properly value income property. It also provides the necessary background information to analyze and reconstruct income and expense statements using property specific data, comparable/market data, and regional/national data.

                         Exam                                                                         Seminar
  Not offered in exam format in 2003                                        Springfield - March 24-25

Cost: $230.00 member, $305.00 non-members
Special Notes: Students may receive continuing education credit for either the exam course or the seminar course, but not both.

LEGAL DESCRIPTIONS
# 002-613 – 15 HOURS EXAM CREDIT
LEVEL 2, LAND

This course provides an in-depth, hands-on examination of legal descriptions and its uses within the identification and assessment of taxable property. This is an introductory course.

Rend Lake – October 13-15

Cost: $230.00 member, $305.00 non-members
Special Notes: Students that took IPAI Level 1 course #603 entitled “Legal Descriptions” are not eligible to received continuing education credit for this course.

RESIDENTIAL CONSTRUCTION
# 002-954 – 15 HOURS SEMINAR CREDIT
LEVEL 2, RESIDENTIAL

This course will familiarize students with basic house types, quality grades, construction terminology and how construction quality grade specifications, techniques and materials determine quality. The various residential construction phases from site preparation through completion of the building will be illustrated with slides of the construction of a residential building. The advantage and disadvantage of certain building materials will also be discussed and many building products will be available for examination. When practical, a field trip will be part of this course.

Springfield – March 24-25

Cost: $230.00 member, $305.00 non-members

SALES RATIO ANALYSIS USING SPREADSHEET SOFTWARE
# 002-957 – 15 HOURS SEMINAR CREDIT
LEVEL 2, STATISTICS

This course takes advantage of the math functions and graphing capabilities of Microsoft Excel. During the course, students will build a sales ratio template for use in their own office. Even though the course uses Microsoft Excel, the concepts demonstrated are quite applicable to other spreadsheet programs. This course introduces the student to sales ratio studies and spreadsheet programs. It is not intended to be an exhaustive treatment of either subject.

Bloomington – June 2-3
Bloomington – July 21-22
Bloomington – December 8-9

Recommended Prerequisites: A general working knowledge of a personal computer and basic spreadsheet functions
Cost: $285.00 member, $360.00 non-members
Special Notes: Students that have received credit for the IPAI course entitled “Sales Ratio Analysis with Lotus 1-2-3” are not eligible to receive continuing education credit for this course.

New Offering (Seminar Format)
REAL ESTATE LAW
# 002-994 – 15 HOURS EXAM CREDIT
# 002-505 – 15 HOUR SEMINAR CREDIT
LEVEL 2, THEORY

This course is designed to familiarize assessing officials with the points of law regarding real property and real estate. An understanding of the basic legal principles involved with respect to real property is essential to the administration of the real property tax. This course presents a summary of those basic legal principles through lecture, discussion problems, and quizzes.

                      Exam                                                                          Seminar
              Lisle – June 25-27                                                   Bloomington – July 9-10

Cost: $230.00 member, $305.00 non-members
Special Notes: This course is also available in a home-study format. See page 26 for complete details. Students may receive continuing education credit for either the exam course or the seminar course, but not both. Students may not receive credit for this course if they have received credit for this course in the home-study format.

BEYOND MAPPING: GIS IN LOCAL GOVERNMENT
# 002-822 – 15 HOURS EXAM CREDIT
LEVEL 2, LAND

The class is broad in scope, attempting to give the students a sense for many of the issues surrounding GIS. This course presents topics ranging from traditional cartographic principles and map design to the role of relational database systems and the underlying geometric principles that support even the most casual use of GIS.

Springfield - March 24-26

Recommended Prerequisites: A familiarity with parcel mapping and property descriptions, as well as, a working knowledge of basic PC systems and desktop software
Cost: $285.00 member, $3600.00 non-members

CADASTRAL MAPPING
# 002-997 – 15 HOURS EXAM CREDIT
LEVEL 2, LAND

This course gives students an overview of cadastral mapping techniques, which will prepare assessment officials to create a map to an aerial photo base. It is recommended that students have a basic understanding of land records, legal descriptions, and mapping, prior to attending class.

East Peoria - August 6-8

Cost: $230.00 member, $305.00 non-members

ASSESSMENT OF OIL & COAL
# 002-949 – 15 HOURS SEMINAR CREDIT
LEVEL 2, LAND

This course addresses the responsibilities of the assessment official in valuing oil and coal. Oil and coal schedules are reviewed, and the methods used to calculate oil and coal are also covered. An underground and surface tour of an active mine are conducted. Students should bring “work clothing” with them to class.

Not offered by IPAI during 2003.

Cost: $230.00 member, $305.00 non-members
Special Notes: Student who took the IPAI Oil & Gas course will receive continuing education credit for this course.

ASSESSMENT ADMINISTRATION (IAAO COURSE)
# 003-400 – 30 HOURS EXAM CREDIT
LEVEL 2, ADMINISTRATION

“Course 400 covers administrative concepts and procedures that can produce greater efficiency in the modern assessment office. Students explore the key subsystems of an organization and how to operate them more effectively. Also included is the manager’s role within an assessment organization: the process of planning, directing, coordinating, organizing, budgeting, and evaluating toward better utilization of human and physical resources. Topics include information systems, reappraisal, setting goals and objectives. maintenance, appeals, data processing, public relations, personnel, budgeting, report reviews, ratio studies, evaluations, and standards of practice.” (IAAO Benefits & Services – 2000)

Cost: $425.00 member, $500.00 non-members
***This course is not being sponsored by IPAI during 2003.***

FUNDAMENTALS OF MASS APPRAISAL (IAAO COURSE)
# 003-300 – 30 HOURS EXAM CREDIT
LEVEL 2, THEORY

“This course provides an introduction to mass appraisal and is a prerequisite for the 300 series of courses offered by the IAAO. Topics covered include single-property appraisal versus mass appraisal, components of a mass appraisal system, data requirements and analysis, introduction to statistics, use of assessment ratio studies in mass appraisal, modeling of the three approaches to value and selection of a mass appraisal system.” (IAAO Benefits & Services – 2000)

East Peoria – August 4-8

Cost: $425.00 member, $500.00 non-members
Special Notes: Due to the fact that materials must be purchased for this course, students that cancel their registration within two weeks of the course date will be required to purchase the course materials regardless of the fact that they do not attend. The materials will be sent to the student.