Presentation Category
PLENARY
Session Description
Appraisal bias is a pervasive issue that contributes to the widening wealth gap in many communities of color across America. The average Black and Latino families have, respectively, one tenth and one-eighth of the wealth of the average White family. On June 1, 2021, the centennial of the Tulsa Race Massacre, President Biden announced the creation of the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) to address this issue head on by establishing a transformative set of actions to root out racial and ethnic bias in home valuations. During its initial phase, the Task Force heard from several tax assessors, many of whom emphasized the need for enhanced data sharing. Since that time, thirteen federal cabinet-level and independent agencies have released the PAVE Action Plan which, when enacted, represents the most wide-ranging set of reforms ever put forward to advance equity in the home appraisal process. Join this session to learn about appraisal bias, the work of PAVE, and the federal achievements already delivered and underway to increase the availability and diversity of appraisers, make federal appraisal data available, and to ensure that every American who buys a home has the same fair and impartial opportunities to build generational wealth through homeownership.
Audience Expertise
General Interest (Appropriate for all experience level)
Start Date
8-30-2023 9:00 AM
End Date
8-30-2023 10:00 AM
Moderator
Donna VanderVries. CAE, AAS, PPS, Muskegon County Equalization
PAVE: The Connection Between Eliminating Bias and An Assessor's Work
Grand Ballroom A-F
Appraisal bias is a pervasive issue that contributes to the widening wealth gap in many communities of color across America. The average Black and Latino families have, respectively, one tenth and one-eighth of the wealth of the average White family. On June 1, 2021, the centennial of the Tulsa Race Massacre, President Biden announced the creation of the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) to address this issue head on by establishing a transformative set of actions to root out racial and ethnic bias in home valuations. During its initial phase, the Task Force heard from several tax assessors, many of whom emphasized the need for enhanced data sharing. Since that time, thirteen federal cabinet-level and independent agencies have released the PAVE Action Plan which, when enacted, represents the most wide-ranging set of reforms ever put forward to advance equity in the home appraisal process. Join this session to learn about appraisal bias, the work of PAVE, and the federal achievements already delivered and underway to increase the availability and diversity of appraisers, make federal appraisal data available, and to ensure that every American who buys a home has the same fair and impartial opportunities to build generational wealth through homeownership.
