Pennsylvania Code › Title 49 - PROFESSIONAL AND VOCATIONAL STANDARDS › Part I - DEPARTMENT OF STATE › Subpart A - PROFESSIONAL AND OCCUPATIONAL AFFAIRS › Chapter 36 - STATE BOARD OF CERTIFIED REAL ESTATE APPRAISERS › Subchapter C - CERTIFIED PENNSYLVANIA EVALUATORS › GENERAL PROVISIONS › Section 36.201 - Definitions

Current through Register Vol. 54, No. 28, July 13, 2024
The following words and terms, when used in this
						  subchapter, have the following meanings, unless the context clearly indicates
						  otherwise:
Act
-The Assessors Certification Act
						  (63
						  P. S. §§
													458.1-458.16).
Ad valorem taxation purposes
-The
						  establishment of the value of real property as determined by a government
						  employe or revaluation company personnel on contract with a governmental entity
						  for real estate tax assessment.
Appraisal assessing profession
-The
						  body of individuals who are deemed to be qualified to perform ad valorem tax
						  appraisals.
Assessor
-A person responsible for the
						  valuation of real property for ad valorem taxation purposes.
Business with which a certified Pennsylvania
						  evaluator is associated
-A business in which the certified Pennsylvania
						  evaluator or a member of the certified Pennsylvania evaluator's immediate
						  family is a director, officer, owner or employe, or has a financial
						  interest.
Certified Pennsylvania evaluator
-An
						  individual who has completed a minimum of 90 hours of basic courses of study
						  covering the appraisal assessing profession and has successfully completed a
						  comprehensive examination covering all phases of the appraisal process and the
						  assessment function established by the assessment statutes of the
						  Commonwealth.
Conflict of interest
-A situation in
						  which a certified Pennsylvania evaluator uses the certified Pennsylvania
						  evaluator's employment or confidential information received through the course
						  of the employment for the private pecuniary benefit of the certified
						  Pennsylvania evaluator, a member of the certified Pennsylvania evaluator's
						  immediate family, or a business with which the certified Pennsylvania evaluator
						  or a member of the certified Pennsylvania evaluator's immediate family is
						  associated.
Financial interest
-A financial
						  interest in a legal entity engaged in business for profit which comprises more
						  than 5% of the equity of the business or more than 5% of the assets of the
						  economic interest in indebtedness.
Immediate family
-A parent, spouse,
						  child, brother, sister, grandparent or grandchild and, when living in the
						  family household (or under a common roof), all other individuals related by
						  blood or marriage.
Real estate appraisal
-A written
						  analysis, opinion or conclusion relating to the nature, quality, value or
						  utility of specified interests in, or aspects of, identified real property, for
						  or in expectation of compensation.
Real estate tax assessment
-A valuation
						  placed on real property for governmental purposes by a government employe or
						  revaluation company personnel on contract with a government.
The provisions of this §
														36.201 amended under sections 3
							 and 7(a)(6) of the Assessors Certification Act (63 P. S. §§
															458.3 and
							 458.7(a)(6)).