Compilation of Rules and Regulations of the State of Georgia
Department 560 - RULES OF DEPARTMENT OF REVENUE
Chapter 560-11 - LOCAL GOVERNMENT SERVICES DIVISION
Subject 560-11-2 - SUBSTANTIVE REGULATIONS
Rule 560-11-2-.04 - Completed Program Requirements

Universal Citation: GA Rules and Regs r 560-11-2-.04

Current through Rules and Regulations filed through September 23, 2024

A program to be complete must possess the following:

(1) An Agreement properly executed by the county and the appraisal firm containing all the basic provisions of the county-appraisal firm form of agreement attached hereto and hereby made a part of this regulation. (Whenever a county finds it necessary to change or omit any of the basic provisions of this regulation contract form, a complete and full explanation of the reasons therefor shall accompany the application; otherwise, consideration of the application will be delayed.)

(2) A Performance and Payment Bond, furnished by the appraisal firm and approved by the county attorney.

(3) An affidavit of the Contracting Appraisal Firm that it meets the following minimum qualification requirements and submitting any information as required therein:

(a) Not less than five years of practical appraisal experience involving extensive commercial and industrial properties as well as residential.

(b) At least one of the appraisal company's principal appraisers who will be in overall charge of and devote a reasonable amount of personal direction to the project must be one of the following:
1. M.A.I. (Member of the American Institute of Real Estate Appraisers)

2. C.A.E. (Certified Assessment Evaluator)

3. P.E. (Licensed Professional Engineer with at least 5 years of appraisal experience satisfactory to the Department of Revenue)

4. Other comparable education and practical experience satisfactory to the Department of Revenue.

(c) Adequate financial resources which shall include the ability to furnish the required performance and payment bond referred to in the contract.

(d) A staff of suitably trained supervisors, none under 25 years of age, available for assignment to the project and adequate to insure its timely and proper completion.

(e) A specific program for procuring and training the manpower, other than permanent staff, necessary to the accomplishment of the project.

(f) Name, age, and qualifications of the person guaranteed to supervise the project throughout the contract period.

(4) In the case of a commercial loan application, a loan agreement containing the commitment of a commercial lender to make a loan to the county and setting forth the terms of such loan.

Ga. L. 1937-38, Extra Sess., pp. 77, et. seq., as amended; Ga. Code Ann., Secs. 92-8405, 8406, 8409, 8427.

Disclaimer: These regulations may not be the most recent version. Georgia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.