(1) Acceptable appraisal experience includes, but is not limited to, the following:

(a) fee and staff appraisals;

(b) ad valorem tax appraisals, in accordance with ARM 24.207.508;

(c) review appraisals;

(d) appraisal analysis;

(e) real estate appraisal consulting;

(f) highest and best use analysis;

(g) appraisal feasibility analyses or studies; and

(h) condemnation appraisals.

(2) Acceptable appraisal experience must be for an unrelated client or where the applicant has no financial interest in the property.

(3) All applicants claiming appraisal experience shall have made a substantial contribution in arriving at a value conclusion as evidenced by the applicant's signature on the report or the applicant's name listed in the report as someone who provided significant professional assistance in the appraisal process.

(4) All evidence of appraisal activity must be supported by written file memoranda or written report.

(5) If requested, experience documentation in the form of reports or file memoranda should be available to support the experience claimed. The verification for experience credit claimed by an applicant shall be on forms prescribed by the board which shall include:

(a) type of property;

(b) date of report;

(c) address of appraised property;

(d) description of work performed; and

(e) number of work hours.

(6) All experience submitted to the board must be done in conformance with the Uniform Standards of Professional Appraisal Practice as promulgated by The Appraisal Foundation that is current at the time the appraisal is completed.

(7) Qualifying experience must be obtained within five years prior to application date unless otherwise determined by the board.

(8) Timber and mineral appraisal does not qualify as real estate appraisal experience, unless performed in conjunction with a real estate appraisal involving real property.

 

 

 

(9) The board will use the following hourly credit as a guide toward the crediting of experience hours:

(a) single family residential (one unit dwelling)

(i) complete assignment                                    12

(ii) limited assignment                                     8

(b) multifamily residential (two-to-four units) 20

(i) complete assignment                                    20

(ii) limited assignment                                    10

(c) residential vacant land less than ten acres                 8

(d) individual residential subdivision sites (per site)

(not to exceed 50 hours)                                    5

(e) land (undeveloped nonresidential tracts,

residential multifamily sites, commercial sites,

industrial sites, land in transition, etc.)                    20

(f) rural/agricultural/residential

(i) ten to 160 acres                                       20

(ii) 160 to 1000 acres with improvements                      50

(iii) over 1000 acres with improvements                      60

(g) residential multifamily (5-12 units) (apartments,

condominiums, townhouses, mobile home parks, etc.)             35

(h) residential multifamily (13+ units) (apartments,

condominiums, townhouses, mobile home parks, etc.)             40

(i) commercial single tenant (office building, retail store,

restaurant, service station, bank, day care center, etc.)        35

(j) commercial multitenant (office building,

shopping center, hotel, etc.)                              60

(k) industrial (warehouse, manufacturing plant, etc.)           60

(l) institutional (nursing home, hospital, school, church,

government building, etc.)                                 60

(10) Review appraisals will be allowed 1/3 the allotted time found in (9) .

(11) The board may provide a variance from the hourly standards provided in (9) and (10) . To be considered for such a variance, an applicant must submit a written request for a variance supported by documentation which demonstrates the need for additional credit hours.