On October 26th, Maryland Begins Property Appraisal & Evaluation Equity Investigation

 

PUBLIC NOTICE: Task Force On Property Appraisal and Valuation Equity to Hold Public Meeting NEW CARROLLTON, MD (October 24, 2023) – As mandated by the passage of HB1097 in 2022, the Maryland Department of Housing and Community Development is establishing the Task Force on Property Appraisal and Valuation Equity. The Task Force will: Beginning October 26, 2023, meet monthly through June of 2024 Address the persistent misvaluation and undervaluation of property owned by minorities by: studying strategies and actions that will:  help ensure that governmental oversight and industry standards and practices further valuation equity;  increase training of appraisers to combat valuation bias;  remove barriers to entry into the appraisal profession by minorities;  assist in the development of a model for a meaningful reconsideration of value process; and  reduce or eliminate bias related to automated valuation models and alternative property valuation methods; and  identifying legislative or other policy recommendations that will provide a comprehensive and coordinated approach for reducing bias in valuations, through enforcement, compliance, or other methods Report its findings and recommendations to the Governor and General Assembly. DHCD will hold the first Task Force meeting on October 26, 2023 at 4:00 p.m.  This meeting is virtual, and the public can watch live at the link or join through the phone number listed below.  Video call link: https://meet.google.com/cpo-afwn-unr Or dial: ‪(US) +1 352-453-0792‬ PIN: ‪243 551 371‬#