This past spring the Appraisal Qualifications Board (AQB) of The Appraisal Foundation (TAF) approved updates to The Personal Property Appraiser Qualification Criteria. These changes will affect designated members and candidates in three disciplines of ASA: Personal Property (PP), Gems & Jewelry (GJ) and Machinery & Technical Specialties (MTS).
Updates include changes to the acceptable level of members’ higher education as well as new Uniform Standards of Professional Appraisal Practice (USPAP) education requirements. The new requirement for USPAP education which apply to accredited/designated appraisers and candidates states:
“As part of continuing education hours, the accredited/designated appraiser must successfully complete an AQB-approved 7-Hour Personal Property USPAP Update Course or an AQB-approved 15-Hour Personal Property USPAP Course every two (2) calendar years.”
The requirement for USPAP education, to be taken with each new version of USPAP, has been in effect for real property appraisers for a number of years. All appraisers in organizations that are TAF sponsors state they are in compliance with USPAP. This change was made to ensure that such appraisers know what is in the most current version of USPAP. (Appraisers taking USPAP for the first time are still required to take the 15-Hour Course.)
The new requirements for higher education do not apply to current accredited or designated members. They do however apply to those seeking accreditation from ASA.
The AQB updated the Criteria “based on input it received from personal property appraisers and users of personal property appraisals. In addition, the Board sought extensive feedback from The Appraisal Foundation Advisory Council’s (TAFAC) Personal Property Issues Committee and the Personal Property Resource Panel of the Board of Trustees.”
The requirements become effective on January 1, 2018. ASA will begin to move toward meeting this requirement with the new version of USPAP scheduled to go into effect on January 1, 2016. ASA will send reminders about the updated USPAP requirements to member and candidates as the date of their USPAP requirement approaches.
For more information on these USPAP changes, visit http://www.appraisers.org/asa-newsroom/article/2015/08/27/frequently-asked-questions-about-uspap
To access a full copy of the new Personal Property Appraiser Qualification Criteria, which is available through TAF’s website, visit: https://appraisalfoundation.sharefile.com/share#/download/sec0d4281ec640399
For a listing of ASA’s updated 2016-2017 USPAP classes, visit http://www.appraisers.org/Education/national-asa-courses/national-class-schedule