Property appraisers and assessors estimate the value of land, buildings, and other properties for purposes such as sales, mortgages, insurance, and taxation. Their job description typically includes: 1. Inspecting properties to evaluate their condition, features, and characteristics. 2. Researching and analyzing relevant data such as market trends, comparable properties, and property records. 3. Using valuation methods and models to determine the value of properties. 4. Preparing written reports detailing property descriptions, evaluations, and conclusions. 5. Presenting appraisal findings to clients, government agencies, or courts as needed. 6. Ensuring compliance with local regulations and standards in property assessments. 7. Collaborating with real estate professionals, property owners, and other stakeholders. 8. Keeping up-to-date with changes in real estate markets and appraisal methodologies. 9. Occasionally testifying in legal proceedings as an expert witness regarding property valuations. These professionals typically work for government agencies, real estate firms, appraisal companies, or operate as independent contractors.
This income data is sourced from the May 2023 Occupational Employment and Wage Statistics (OEWS) survey. The dataset is updated annually.
Annual Pay Distribution | Salary |
|---|---|
10th percentile | $22,420.00 |
25th percentile | $40,270.00 |
median (50th percentile) | $48,250.00 |
75th percentile | $60,650.00 |
90th percentile | $89,110.00 |
Hourly Pay Distribution | Hourly Rate |
|---|---|
10th percentile | $10.78 |
25th percentile | $19.36 |
median (50th percentile) | $23.20 |
75th percentile | $29.16 |
90th percentile | $42.84 |
Property appraisers and assessors typically need a bachelor’s degree in a related field such as real estate, finance, or economics. Some may also enter the field with an associate’s degree or even just a high school diploma combined with relevant work experience. While a college education is often preferred or required for more advanced positions, certain roles may only necessitate a high school diploma along with on-the-job training or certification. Additionally, most states require licensure or certification for property appraisers and assessors, which involves completing specific coursework, passing exams, and gaining practical experience under a licensed appraiser. Training for property appraisers and assessors usually entails a combination of on-the-job experience and formal education programs. This can involve learning about appraisal methods, property valuation techniques, real estate law, and regulations. Many aspiring appraisers and assessors participate in apprenticeship programs where they work under experienced professionals to gain hands-on experience in the field. Continuing education is also important in this profession to stay current with industry trends, changes in regulations, and advancements in appraisal methodologies. Professional organizations often provide resources and opportunities for ongoing training and development for property appraisers and assessors.