New Year’s Day of an even-numbered year brings new appraisal regulations under Uniform Standards of Professional Appraisal Practice (USPAP) that will bring new costs to appraisers and their clients. What is this USPAP? It is a regulation that handcuffs appraisers and increases tax departments’ cost of appeals. Every two years, a new version of USPAP is unveiled by The Appraisal Foundation (TAF), an organization “chartered by Congress” which provides and updates these regulations. Every two years, appraisers must re-learn the application of the “Standards.”
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