Lincoln Institute of land Policy
State Administrative of Taxation
Joint Training Course
Theories and Practices of Real Estate Appraisal
For Property Tax Purposes
Date: May 24 - 28, 2004
Venue: Yangzhou Taxation Institute of the State Administration of Taxation(SAT),
Yangzhou, Jiangsu Province, PRC
Objectives: The main objective of the training session is to discuss major approaches to valuing land and buildings for property tax purposes and explore the extent to which these approaches can be applied in China. The focus will be on practice; thus, sufficient time will be allocated to discussions between the faculty and participants and hands-on exercise in each session. The program has four major components: (1) Concepts and Assessment Approaches, (2) Site Visit, (3) International Case Studies and (4) Panel Discussion.
Day 1 Monday (May 24, 2004)
Opening Ceremony:
8:00-8:30 Welcome Address and Opening Remarks
Leaders of the SAT
8:30-9:00 Opening Remarks by the Lincoln Institute of Land Policy and
China Program of the Lincoln Institute of Land Policy: An Overview
Dr. Chengri Ding, University of Maryland and Special Assistant to the President, Lincoln Institute of Land Policy
Section I: Concepts and Assessment Approaches
9:00-10:30 The Importance of Real Estate Appraisal for Property Taxation: An International Overview
Dr. Yu-Hung Hong, Lincoln Institute of Land Policy and Massachusetts Institute of Technology
10:30-10:45 Break
10:45-12:15 The Importance of Real Estate Appraisal for Property Taxation: An International Overview (continued)
Dr. Yu-Hung Hong, Lincoln Institute of Land Policy and Massachusetts
Institute of Technology
12:15-2:30 Lunch
2:30-4:00 Framework for Real Property Appraisal
Dr. Yu-Hung Hong, Lincoln Institute of Land Policy and Massachusetts Institute of Technology
4:00-4:15 Break
4:15-5:45 Economics of Property Markets
Dr. Chengri Ding, University of Maryland and Special Assistant to the President, Lincoln Institute of Land Policy
5:45 End of Day 1
Day 2 Tuesday (May 25, 2004)
8:30-10:00 Land Use Planning and Property Value
Dr. Chengri Ding, University of Maryland and Special Assistant to the President,
Lincoln Institute of Land Policy
10:00 -10:15 Break
10:15-11:45 Sales Comparison Approach
Dr. Yu-Hung Hong, Lincoln Institute of Land Policy and Massachusetts Institute of Technology
11:45-2:30 Lunch
2:30-4:00 Cost Approach
Dr. John L. Mikesell, Indiana University
4:00-4:15 Break
4:15-5:45 Income Approach
Dr. John L. Mikesell, Indiana University All Faculty
5:45 End of Day 2
Day 3 Wednesday (May 26, 2004)
8:30-10:00 Mass Appraisal I
Dr. John L. Mikesell, Indiana University
10:00-10:15 Break
10:15-11:45 Mass Appraisal II
Dr. John L. Mikesell, Indiana University
11:45 End of lecture for Day 3
Section II: Site Visit (Faculty only)
1:00-6:00 Visit the Nanjing Local Tax Bureau
(An informal discussion with local tax officials on challenges for assessing land and building values
for property tax purposes in China.)
6:00 End of Day 3
Day 4 Thursday (May 27, 2004)
Section III: Case Studies
8:30-10:00 From Administrative Formula to Market Value Approach: The Case of Indiana, U.S.A.
Dr. John L. Mikesell , Indiana University
10:00-10:15 Break
10:15-11:45 The Indiana Case (continued)
Dr. John L. Mikesell, Indiana University
11:45-2:30 Lunch
2:30-4:00 Eastern European Experiences In Assessing Real Property for Tax Purposes
Dr. John L. Mikesell, Indiana University
4:00-4:15 Break
4:15-5:45 Property Taxation in Hong Kong: An Overview
Commissioner Kenneth Pang, JP, Rating & Valuation Department, Hong Kong Special
Administrative Region Government, PRC
5:45 End of Day 4
Day 5 Friday (May 28, 2004)
8:30-10:00 Assessment, Administration and Collection of Property Rates in Hong Kong
Mr. Alan Yuen, Assistant Commissioner, Rating & Valuation Department, Hong Kong Special Administrative Region Government, PRC
10:00-10:15 Break
10:15-11:45 Extension of Property Rates to the New Territories - A Case Study
Mr. Alan Yuen, Assistant Commissioner, Rating & Valuation Department, Hong Kong Special Administrative Region Government, PRC
The Hong Kong Experience: Summary
Commissioner Kenneth Pang, JP, Rating & Valuation Department, Hong Kong Special
Administrative Region Government, PRC
11:45-2:30 Lunch
Section III: Panel discussion---Real Property Appraisal for Tax Purposes in China: Opportunities and Challenges
2:30-4:00 Penal Discussion
4:00-4:15 Break
4:15-5:45 Penal Discussion (continued)
5:45 End of the Training Session