South Dakota Administrative Rules
Title 20 - PUBLIC SAFETY
Article 20:14 - APPRAISERS
Chapter 20:14:05 - Qualifications for certification, licensure, and registration
Section 20:14:05:08 - Educational requirements for state-certified general appraiser - Appraiser education
Current through Register Vol. 50, page 114, March 25, 2024
An applicant for examination as state-certified general appraiser credential must have completed 300 creditable class hours of approved qualifying education, which includes successful completion of each course examination. Acceptable education is the Appraiser Qualifications Board-required core curriculum as follows:
(1) Basic appraisal principles -- 30 hours;
(2) Basic appraisal procedures -- 30 hours;
(3) Fifteen--hour qualifying course that covers the uniform standards as adopted in § 20:14:06:01;
(4) General appraiser market analysis and highest and best use -- 30 hours;
(5) Statistics, modeling, and finance -- 15 hours;
(6) General appraiser sales comparison approach -- 30 hours;
(7) General appraiser site valuation and cost approach -- 30 hours;
(8) General appraiser income approach -- 60 hours;
(9) General appraiser report writing and case studies -- 30 hours;
(10) Appraisal subject matter electives -- 30 hours.
An applicant shall demonstrate that the applicant's education includes the core courses listed in these criteria, with particular emphasis on nonresidential properties, which are properties other than one- to four-family residential properties.
A registered trainee appraiser may satisfy the appraiser educational requirements for the state-certified general appraiser credential by completing the following additional educational hours:
(1) General appraiser market analysis and highest and best use -- 30 hours;
(2) Statistics, modeling, and finance -- 15 hours;
(3) General appraiser sales comparison approach -- 30 hours;
(4) General appraiser site valuation and cost approach -- 30 hours;
(5) General appraiser income approach -- 60 hours;
(6) General appraiser report writing and case studies -- 30 hours; and
(7) Appraisal subject matter electives -- 30 hours.
A state-licensed appraiser may satisfy the appraiser educational requirements for the state-certified general appraiser credential by completing the following additional educational hours;
(1) General appraiser market analysis and highest and best use -- 15 hours;
(2) Statistics, modeling, and finance -- 15 hours;
(3) General appraiser sales comparison approach -- 15 hours;
(4) General appraiser site valuation and cost approach -- 15 hours;
(5) General appraiser income approach -- 45 hours;
(6) General appraiser report writing and case studies -- 15 hours; and
(7) Appraisal subject matter electives -- 30 hours.
A state-certified residential appraiser may satisfy the appraiser education requirements for the state-certified general appraiser credential by completing the following additional educational hours:
(1) General appraiser market analysis and highest and best use -- 15 hours;
(2) General appraiser sales comparison approach -- 15 hours;
(3) General appraiser site valuation and cost approach -- 15 hours;
(4) General appraiser income approach -- 45 hours; and
(5) General appraiser report writing and case studies -- 10 hours.
General Authority: SDCL 36-21B-3(3)(6).
Law Implemented: SDCL 36-21B-1, 36-21B-3(3)(6).
Requirement for qualifying education credit, § 20:14:13:03.01.
Application for course approval, § 20:14:13:07.
