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Lincoln Institute of land Policy-State Administration of Taxation

 The 2nd Joint Training Program

Theories and Practices of Real Estate

Appraisal For Property Taxation

Date: September 19 - 23, 2005

Venue: Nanjing, Jiangsu Province, PRC

Objectives: The main objective of the training course is to discuss Mass Appraisal systems for valuing land and buildings for property tax purposes and explore the extent to which these approaches could be applied in China.  The program has two major components.  First, there will be three days of lectures on detailed procedures for setting up Mass Appraisal systems.  These lectures will cover the basic concepts of Mass Appraisal, real estate markets and modeling.  Second, there will be a 2-day seminar on the technical issues related to choices of modeling approaches for Mass Appraisal, assessment evaluation, data management, GIS application and preconditions for property assessment reform.  The seminar is designed for stimulating open discussions between the faculty and participants on specific policy issues.      

Opening Ceremony:

8:00-8:15         Welcome Address and Opening Remarks

Leaders of the State Administration of Taxation

8:15-8:30         Opening Remarks from the Lincoln Institute of Land Policy

Dr. Chengri Ding, University of Maryland and Special Assistant to the President, Lincoln Institute of Land Policy

8:30-9:00        Group Photo

Part I: Lectures

9:00 – 9:15       Course Outline

Dr. Yu-Hung Hong, Lincoln Institute of Land Policy and Massachusetts Institute of Technology

I:  Basic Concepts

9:15-10:30       Framework for Real Estate Appraisal for Property Taxation

Dr. Yu-Hung Hong, Lincoln Institute of Land Policy and Massachusetts Institute of Technology

10:30-10:45     Break                  

10:45-12:15     Application of the Framework:  The Hong Kong Rating System

Commissioner Kenneth Pang, JP, Rating & Valuation Department, Hong Kong Special Administrative Region Government, PRC

12:15-2:30       Lunch 

2:30-4:00          Property Appraisal and Real Estate Economics   

Dr. Chengri Ding, University of Maryland and Special Assistant to the President, Lincoln Institute of Land Policy

4:00-4:15         Break

4:15-5:45         Overview of Mass Appraisal Concept

Dr. Yu-Hung Hong, Lincoln Institute of Land Policy and Massachusetts Institute of Technology

5:45                 End of Day 1

II:  Modeling and Application

8:30-10:00       Mass Appraisal Using Sales Comparison Approach

Mr. Melton Chi-Hong Lau, Polytechnic University of Hong Kong

10:00-10:15     Break

10:15-11:45     Mass Appraisal Using Sales Comparison Approach (Continued)

Mr. Melton Chi-Hong Lau, Polytechnic University of Hong Kong

11:45-2:30       Lunch

2:30-4:00         Computer Assisted Mass Appraisal (CAMA) in Hong Kong

Senior Staff, Rating & Valuation Department, Hong Kong Special Administrative Region Government, PRC

4:00-4:15         Break

4:15-5:45         Computer Assisted Mass Appraisal (CAMA) in Hong Kong (continued)

Senior Staff, Rating & Valuation Department, Hong Kong Special Administrative Region Government, PRC

5:45                End of Day 2

8:30-10:00       GIS Application in Mass Appraisal

Dr. Chengri Ding, University of Maryland and Special Assistant to the President, Lincoln Institute of Land Policy

10:00-10:15     Break

10:15-11:45     Income Capitalization and Replacement Cost Approaches in Mass Appraisal

Mr. Melton Chi-Hong Lau, Polytechnic University of Hong Kong

11:45-2:30       Lunch

2:30-4:00         Application of Income Capitalization Approach:  Assessing Public Utilities and Complex Industrial Properties in United States

Dr. Yu-Hung Hong, Lincoln Institute of Land Policy and Massachusetts Institute of Technology

4:00-4:15         Break

4:14-5:45         Application of Replacement Cost Approach:  Assessing Unique Property in Hong Kong

Senior Staff, Rating & Valuation Department, Hong Kong Special Administrative Region Government, PRC

5:45                 End of Day 3

Part II:  Seminars

Format:  Each session will start with a short (30-minute) summary of previous lectures or presentation of a special topic given by the appointed chair.  Then a 60-minute open discussion moderated by the chair will follow.  All faculty members will participate in the seminars. 

8:30-10:00       Property Tax administration

Chair:  Commissioner Kenneth Pang, JP, Rating & Valuation Department, Hong Kong Special Administrative Region Government, PRC

10:00-10:15     Break

10:15-11:45     Mass Appraisal Performance Evaluation

Chair:  Senior Staff, Rating & Valuation Department, Hong Kong Special Administrative Region Government, PRC

11:45-2:30       Lunch

2:30-4:00         Public/Private Partnership in Delivering Property Information Services

Chair:  Commissioner Kenneth Pang, JP, Rating & Valuation Department, Hong Kong Special Administrative Region Government, PRC

4:00-4:15         Break

4:15-5:45         Modeling Decisions

                        Chair:  Mr. Melton Chi-Hong Lau, Polytechnic University of Hong Kong

5:45                End of Day 4

8:30-10:00       Legal Issues of Mass Appraisal

                        Chair:  Mr. Melton Chi-Hong Lau, Polytechnic University of Hong Kong

10:00-10:15     Break

10:15-11:45     GIS Application in Mass Appraisal

Chair:  Dr. Chengri Ding, University of Maryland and Special Assistant to the President, Lincoln Institute of Land Policy

11:45-2:30       Lunch

2:30-4:00         Appraisal Methods for Unique Properties

Chair:  Dr. Yu-Hung Hong, Lincoln Institute of Land Policy and Massachusetts Institute of Technology

4:00-4:15         Break

4:15-5:45         Course Summary: Preconditions for Applying Mass Appraisal

Chair:  Dr. Yu-Hung Hong, Lincoln Institute of Land Policy and Massachusetts Institute of Technology

5:45                Adjourn

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