Originally published in the December 12, 2025, issue of AI’s Appraisal Now
Reprinted with permission from AI

In Lake Jordan Holdings, LLC v. Commissioner (T.C. Memo. 2025-123), the U.S. Tax Court again sharply criticized an inflated conservation easement valuation, reducing a claimed $12.7 million deduction to just $1.09 million and sustaining a 40% gross valuation misstatement penalty. The Court found that the taxpayer’s appraiser, who lacked an Alabama license and relied on aggressive assumptions and extensive cut-and-paste narrative material, produced an appraisal that was “egregious” and unsupported by market evidence.

Originally published in the December 12, 2025, issue of AI’s Appraisal Now
Reprinted with permission from AI

The Appraisal Industry Improvement Act (AIIA), bipartisan legislation introduced in the House of Representatives by Janelle Bynum (D-OR) and Byron Donalds (R-FL), has reemerged as Congress prepares to take up a broader bipartisan housing package. Although the Senate-released National Defense Authorization Act (NDAA) ultimately excluded appraisal provisions, the momentum behind federal housing reforms creates a viable path for incorporating the AIIA and the Portal for Appraisal Licensing (PAL) Act into upcoming legislative negotiations.

Originally published in the December 5, 2025, issue of AI’s Appraisal Now
Reprinted with permission from AI

The Appraisal Institute recently submitted comments to the U.S. Department of Housing and Urban Development (HUD) in response to its request for information on the future of reverse mortgage programs. In its letter, the Appraisal Institute emphasized the importance of retaining the second appraisal requirement, calling it a vital safeguard against overvaluation that protects the Mutual Mortgage Insurance Fund, supports accurate collateral valuation for investors, and ultimately safeguards senior homeowners.

Originally published in the November 21, 2025, issue of AI’s Appraisal Now
Reprinted with permission from AI

As conference negotiations on the National Defense Authorization Act (NDAA) move forward, housing-related provisions remain very much in play. The Road to Housing legislation is widely expected to be included in the final package, although conferees are still working through which components will ultimately make the cut.

Originally published in Elevation Strategies' October 25, 2025, newsletter by Sebastian King and Jon Hardister.

The NC General Assembly convened for session this week, where they focused almost exclusively on drawing new maps for the state's congressional districts. While the maps for the congressional districts are typically only redrawn every 10 years after the U.S. Census is completed, there has been a move across the country -- among both blue and red states -- to redraw districts for political advantage heading into the 2026 election cycle.

Originally published in the October 17, 2025, issue of AI’s Appraisal Now
Reprinted with permission from AI

Last week, the US Senate passed its version of the Fiscal Year 2026 National Defense Authorization Act (NDAA) by a bipartisan vote of 77–20. Before final passage, a “Manager’s Amendment” was adopted that included the Renewing Opportunity to the American Dream (ROAD) to Housing Act, a broad housing package aimed at expanding and preserving housing supply, improving affordability and access, and strengthening oversight of federal housing programs.

At its November 13-14, 2025, meeting in Chicago, Illinois, the Appraisal Institute Board of Directors will consider proposed amendments to the Appraisal Institute Bylaws and Regulation Nos. 1, 2, 3, 7, 8, and 9 regarding:

• Chief Executive Officer Powers and Duties
• Chief Executive Officer Title
• Course Examination Requirements for Candidates
• National Nominating Committee
• Regular and Special Board Meeting Related Requirements

Unless otherwise noted, the proposed amendments are expected to have no or minimal financial impact. 

Originally published in the September 26, 2025, issue of AI’s Appraisal Now
Reprinted with permission from AI

The Department of the Interior (DOI) has begun implementing provisions of the Accelerating Appraisals and Conservation Efforts (AACE) Act, which expands the Department’s authority to procure appraisal services. The law authorizes DOI to contract directly with any certified general appraiser in the United States, but only after first attempting to locate an appraiser in the state where the assignment occurs. This new authority is intended to streamline the Department’s ability to obtain timely appraisals from qualified and cost competitive appraisers, though state-level discussions are beginning to reveal uncertainties in how the law will function in practice.

Originally published in the September 26, 2025, issue of AI’s Appraisal Now
Reprinted with permission from AI

A new push to modernize the real property appraiser licensing process is underway. The Portal for Appraiser Licensing Act (H.R. 5520) has been officially reintroduced in the U.S. House of Representatives, led by Rep. Barry Loudermilk (R-GA) with bipartisan cosponsors Reps. David Kustoff (R-TN), Daniel Meuser (R-PA), Scott Fitzgerald (R-WI), Brittney Pettersen (D-CO), Joe Neguse (D-CO), and Susie Lee (D-NV).

Originally published in the September 26, 2025, NC General Assembly Update
Author: Jon Hardister of Elevation Strategies

The NC General Assembly convened for session this week, where they voted on several matters and worked to address budgetary issues.

By Jon Hardister and Sebastian King of Elevation Strategies

The NC General Assembly convened for session earlier this week, but no action was taken. They have now adjourned with plans to return for work on September 22nd.

Originally published in the August 22, 2025, issue of AI's Appraisal Now
Reprinted with permission from AI

In two recent rulings, the U.S. Tax Court once again signaled that inflated conservation easement valuations will not pass muster. The Ranch Springs (Ranch Springs, LLC v. Commissioner, 164 TC 2025-6) and Beaverdam Creek Holdings (Beaverdam Creek Holdings v. Commissioner TC Memo 2025-53) cases both centered on charitable deductions tied to land conservation, and in each, the court found the taxpayer’s claimed values to be dramatically overstated.

By Greyson Morgan, MAI, NCAI President-Elect

NCAI and the Government Relations Committee have been working diligently and have made significant positive progress in recent months at the North Carolina Capitol!

By Brian Crowder, MAI, SRA, 2025 NCAI Treasurer

Leadership Development and Advisory Council (LDAC) 2025
May 14-16, 2025 | Washington, D.C.

The first annual Appraisal Institute Legislative Day was held in conjunction with the Leadership Development and Advisory Council (LDAC) meeting May 14-16, in Washington, DC.

(L-R): Keith Bolte, Erica Butler, Richard Earley, Brian Crowder and Laura Gourlay

NCAI Government Relations Committee Chair Shepherd Overton, MAI, attended the North Carolina Appraisal Board meeting on April 22, 2025.

The highlight of the meeting was a presentation by John Russell and Peter Fontana representing the Appraisal Foundation. The theme of their presentation was alternative experience, and the ways the Appraisal Qualification Board was exploring to allow for experience outside of the traditional appraisal writing route. The main thrust was the experience assessors have around the country, the classes they must take, and what their output looks like, i.e., a mass appraisal. The presenters spoke about a possible path for these types of alternative valuation professionals and how their experience, plus appropriate state testing, could be a pathway toward appraisal licensing. They noted some discussion is underway regarding whether assessors who might qualify for their experience would be required to submit sample reports to state boards prior to licensure. The presenters addressed how this aligns with the current problems facing the traditional path and finding supervisors.

NCAI had a very good day at the NC Capitol on Tuesday, April 29th for Legislative Affairs Day. Team NCAI was represented by a phenomenal group of members, including Kelli Mayhew, Mike Elwell, Vanessa Hall, Erica Butler, Richard Earley, Nathan Pippin, Greyson Morgan, and Shep Overton. NCAI was joined by our NC lobbyists Jon Hardister and Sebastian King of Elevation Strategies, LLC, and by AI Director of Legislative Affairs, Scott DiBiasio. Our lobbyists were absolutely pivotal in promoting and protecting our interests.

Front Row (L-R): Jon Hardister, Erica Butler, Kelli Mayhew, Linda Nelson, Greyson Morgan, and Scott DiBiasio. Back Row (L-R): Richard Earley, Vanessa Hall, Mike Elwell, Nathan Pippin, Shep Overton and Monica Long

By Erica Butler, MAI, and Keith Bolte, MAI, AI-GRS

The North Carolina Chapter of the Appraisal Institute was well represented at the recent REVCO joint regional meeting, with Kelli Mayhew, MAI, SRA; Erica Butler, MAI; Greyson Morgan, MAI; and Keith Bolte, MAI, AI-GRS in attendance. The meeting brought together professionals from multiple regions to collaborate, share insights, and discuss key developments shaping the appraisal profession.

Leadership in the NC Chapter of the Appraisal Institute and the NC Professional Appraisers Coalition continue to work together to oppose Senate Bill 690.  In fact, today, NCAI President Kelli Mayhew, MAI, SRA, and NCPAC President Linda G. Nelson, submitted a letter to Senator Danny Earl Britt, Jr.; Senator Todd Johnson; and Senator Eddie D. Settle of the Committee on Commerce and Insurance concerning SB 690 (see the letter below).

The chapter is immensely grateful to the tireless efforts of NCAI Government Relations Committee Chair Shep Overton, and Scott DiBiasio, Director of Government Affairs for the Appraisal Institute, for leading our legislative push to protect NC appraisers from the unintended consequences of multiple bills introduced this spring, including SB 690.

The first annual Appraisal Institute Legislative Day will be held in conjunction with the Leadership Development and Advisory Committee (LDAC) meeting on May 14-15. This is an opportunity for all appraisers to help shape the future of the appraisal profession by engaging in grassroots advocacy on Capitol Hill:

Your Voice. Your Advocacy. Your Impact.