Revenue and Taxation Appraisal Specialist in Hawaii Career Overview

As a Revenue and Taxation Appraisal Specialist, you will play a vital role in evaluating properties and determining their value for taxation purposes. Your responsibilities will encompass a range of tasks that contribute significantly to the integrity and effectiveness of the taxation system.

Key aspects of the job include:

  • Property Assessment: You will assess residential and commercial properties, considering various factors such as location, condition, market trends, and comparable sales data to derive accurate valuations.

  • Tax Roll Preparation: You will contribute to the preparation of tax rolls that are essential for local governments to collect property taxes, which fund essential public services like education, infrastructure, and public safety.

  • Compliance and Regulations: In this role, you will ensure that all appraisals comply with local, state, and federal regulations. Your expertise is vital for upholding the legal standards that govern property taxation.

  • Collaboration with Stakeholders: You will regularly interact with government officials, property owners, and other stakeholders, providing clarity on the assessment process and addressing any concerns regarding property valuations.

  • Market Research and Analysis: Conducting thorough market research will be key to identifying trends that may affect property values. Your insights will help inform policy decisions and ensure that assessments reflect current market conditions.

  • Dispute Resolution: You may be involved in addressing disputes over property valuations, representing the interests of the tax authority while also ensuring fair treatment of property owners.

In this career, your meticulous evaluation skills are essential for maintaining a balanced tax system, ensuring that property taxes are assessed fairly and accurately. Your work will ultimately support community development and public services throughout Hawaii.

Revenue and Taxation Appraisal Specialist Salary in Hawaii

Annual Median: $70,080
Hourly Median: $33.69

Data sourced from Career One Stop, provided by the BLS Occupational Employment and Wage Statistics wage estimates.

Required Education To Become a Revenue and Taxation Appraisal Specialist in Hawaii

To become a Revenue and Taxation Appraisal Specialist in Hawaii, you will need to pursue specific educational qualifications. The following college degree programs are relevant to this career:

  • Accounting

    • A degree in accounting equips you with a strong foundational understanding of financial principles, tax regulations, and auditing processes.

  • Accounting and Finance

    • This combined degree offers insights into both accounting practices and financial management, preparing you to handle complex financial analysis and reporting.

  • Business Administration and Management

    • A degree in business administration and management provides a broad understanding of business operations and strategic planning, which is beneficial in the appraisal process.

  • Business Managerial Economics

    • This program emphasizes economic theory and its application in business decision-making, which is essential for understanding market dynamics in property appraisal.

  • Real Estate

    • A degree in real estate focuses specifically on property valuation, market analysis, and real estate law, directly aligning with the responsibilities of an appraisal specialist.

In addition to obtaining a relevant degree, you may also be required to complete training programs and gain experience in the field through internships or entry-level positions related to taxation and property appraisal.

Best Schools to become a Revenue and Taxation Appraisal Specialist in Hawaii 2024

#1Maricopa County

University of Phoenix-Arizona

Phoenix, AZ

In-State Tuition:$9,552
Out-of-State Tuition:$9,552
Admission Rate:N/A
Graduation Rate:18%
Total Enrollment:88,891
#2Merrimack County

Southern New Hampshire University

Manchester, NH

In-State Tuition:$15,000
Out-of-State Tuition:$15,000
Admission Rate:96%
Graduation Rate:41%
Total Enrollment:164,091
#3Salt Lake County

Western Governors University

Salt Lake City, UT

In-State Tuition:$7,404
Out-of-State Tuition:$7,404
Admission Rate:N/A
Graduation Rate:49%
Total Enrollment:156,935
#4El Paso County

Colorado Technical University-Colorado Springs

Colorado Springs, CO

In-State Tuition:$12,036
Out-of-State Tuition:$12,036
Admission Rate:N/A
Graduation Rate:20%
Total Enrollment:24,808
#5Maricopa County

Grand Canyon University

Phoenix, AZ

In-State Tuition:$16,407
Out-of-State Tuition:$16,407
Admission Rate:78%
Graduation Rate:45%
Total Enrollment:101,816
#6Lynchburg City

Liberty University

Lynchburg, VA

In-State Tuition:$15,467
Out-of-State Tuition:$15,467
Admission Rate:99%
Graduation Rate:66%
Total Enrollment:96,709
Revenue and Taxation Appraisal Specialist Job Description:
  • Appraise and estimate the fair value of tangible personal or business property, such as jewelry, art, antiques, collectibles, and equipment.
  • May also appraise land.

Revenue and Taxation Appraisal Specialist Required Skills and Competencies in Hawaii

  • Analytical Skills: You must be adept at assessing data, identifying trends, and making informed conclusions based on financial and property-related information.

  • Attention to Detail: Precision is essential in appraisal work. You should focus on the finer points of property valuation, ensuring accuracy in reports and assessments.

  • Knowledge of Tax Laws and Regulations: Understanding Hawaii's specific tax policies and regulations is vital. You should stay updated on changes in taxation laws as they pertain to property and real estate.

  • Communication Skills: You need strong verbal and written communication skills to explain complex appraisal concepts clearly to clients, property owners, and government officials.

  • Interpersonal Skills: Building relationships with clients and stakeholders is important. You should be able to interact professionally and effectively to establish trust and credibility.

  • Problem-Solving Skills: Strong problem-solving abilities will help you navigate challenges that arise during the appraisal process, finding solutions that align with legal and financial requirements.

  • Mathematical Skills: You should be comfortable working with numbers and performing calculations related to property dimensions, valuation, and taxation rates.

  • Technical Proficiency: Familiarity with appraisal software, geographic information systems (GIS), and data analysis tools will enhance your efficiency in completing reports and evaluations.

  • Research Skills: You should know how to gather information from various sources, including public records and market analysis, to support your property assessments.

  • Time Management: The ability to prioritize tasks and manage time effectively is essential to meet deadlines in appraisal reports and compliance submissions.

Job Duties for Revenue and Taxation Appraisal Specialists

  • Calculate the value of property based on comparisons to recent sales, estimated cost to reproduce, and anticipated property income streams.

  • Create and maintain a database of completed appraisals.

  • Determine the appropriate type of valuation to make, such as fair market, replacement, or liquidation, based on the needs of the property owner.

Technologies Used by Revenue and Taxation Appraisal Specialists

Analytical or scientific software

  • WinEstimator WinEst
  • WinGap

Data base user interface and query software

  • Microsoft Access
  • Yardi software

Presentation software

  • Microsoft PowerPoint

Job Market and Opportunities for Revenue and Taxation Appraisal Specialist in Hawaii

The job market for Revenue and Taxation Appraisal Specialists in Hawaii is influenced by the state’s unique economic landscape and regulatory environment. Here are some key points to consider regarding the current demand, growth potential, and geographical hotspots:

  • Demand: There is a steady demand for Revenue and Taxation Appraisal Specialists due to ongoing property assessments, tax evaluations, and compliance requirements. As local governments continue to refine their tax structures and property valuation methods, professionals in this field are essential to ensure accurate assessments.

  • Growth Potential: The growth potential for this profession in Hawaii is generally favorable. With the increasing complexity of real estate markets and the necessity for precise tax appraisals, specialists in this field can expect to find numerous opportunities for advancement and professional development. The rise in interest for sustainable development and conservation projects also contributes to the growth potential, as these initiatives require specialized appraisal skills.

  • Geographical Hotspots:

    • Honolulu: As the largest city in Hawaii, Honolulu is a significant hub for job opportunities in this field. The concentration of government agencies, real estate firms, and financial institutions creates a vibrant market for Revenue and Taxation Appraisal Specialists.

    • Hilo: This city on the Big Island offers opportunities as it continues to develop its residential and commercial sectors. The growing population and infrastructure development initiatives contribute to job openings.

    • Kona: With its tourist-centric economy, Kona is experiencing growth in property values. The demand for appraisers to establish accurate property assessments is essential to local taxation and finance.

    • Maui: Known for its resorts and vacation homes, Maui presents potential for appraisal specialists, particularly in assessing seasonal rental properties and high-value transactions.

    • Kauai: As development takes shape on the island, there is a need for professionals who can navigate the unique challenges of property appraisal in a less densely populated area.

Overall, the job market for Revenue and Taxation Appraisal Specialists in Hawaii is robust, with various opportunities available across the islands, driven by both local and state-level requirements for property assessments and taxation accuracy.

Top Related Careers to Revenue and Taxation Appraisal Specialist 2024

Personal Property Valuator
Business Asset Appraiser
Tangible Asset Assessor
Specialized Property Valuation Officer

Additional Resources To Help You Become a Revenue and Taxation Appraisal Specialist in Hawaii

  • Hawaii Department of Taxation
    The official website for the state’s taxation services provides updates on tax laws, forms, and resources for tax professionals.
    Hawaii Department of Taxation

  • International Association of Assessing Officers (IAAO)
    This organization offers educational resources, certification programs, and publications focused on assessment and taxation practices.
    IAAO

  • American Society of Appraisers (ASA)
    ASA provides education, accreditation, and a network for appraisers across various fields, including real estate and personal property appraisal.
    American Society of Appraisers

  • National Association of Counties (NACo)
    NACo supports counties in their efforts to promote effective and efficient property taxation and assessment strategies.
    National Association of Counties

  • Property and Valuation Services (PVS)
    A resource for property valuation standards and practices which includes information about the latest methodologies in appraisals.
    PVS Resource

  • University of Hawaii – Shidler College of Business
    The college provides courses and programs related to business, finance, and taxation that can enhance your knowledge and skills in appraisal.
    Shidler College of Business

  • Hawaii Real Property Tax Law
    Access Hawaii's real property tax laws and regulations, essential for those involved in property valuation and taxation in the state.
    Hawaii Real Property Tax Law

  • Hawaii State Assessment Office
    Provides information on property assessments, appeals, and taxation services specific to Hawaii, which is vital for understanding local practices.
    Hawaii State Assessment Office

  • Appraisal Institute
    Offers educational programs, resources, and publications for real estate appraisers and related professions.
    Appraisal Institute

Utilizing these resources will enhance your knowledge, provide networking opportunities, and ensure you stay updated with changes in laws and practices relevant to your career as a Revenue and Taxation Appraisal Specialist in Hawaii.

Frequently Asked Questions (FAQs) About Revenue and Taxation Appraisal Specialist in Hawaii

  • What does a Revenue and Taxation Appraisal Specialist do?
    You evaluate properties and determine their value for taxation purposes. This involves analyzing market trends, conducting field inspections, and preparing appraisal reports used by local government agencies.

  • What qualifications do I need to become a Revenue and Taxation Appraisal Specialist?
    Typically, you will need a bachelor’s degree in a related field, such as finance, business administration, or economics. Additionally, you may need to complete specific appraisal courses and obtain a state license or certification.

  • Are there job opportunities for this position in Hawaii?
    Yes, there are various opportunities within local government entities, private appraisal firms, and real estate companies across the islands. The demand for property valuation services often leads to steady job prospects.

  • What skills are essential for success in this career?
    Key skills include analytical thinking, attention to detail, strong communication abilities, and familiarity with property valuation software. Understanding local zoning laws and tax regulations is also vital.

  • What does the work environment look like?
    Your work environment may include office settings and field locations, where you will inspect properties. Expect to collaborate with other appraisal professionals, government officials, and real estate agents.

  • What is the average salary for a Revenue and Taxation Appraisal Specialist in Hawaii?
    Salaries can vary based on experience and the specific employer, but as of the latest data, the average salary typically ranges from $50,000 to $80,000 annually.

  • Do I need continuing education to maintain my certification?
    Yes, continuing education is often required to keep your appraisal license current. Be sure to check your specific state requirements to ensure compliance.

  • What career advancement opportunities exist in this field?
    You may advance into senior appraisal positions, management roles, or specialize in particular areas of real estate appraisal. Some professionals choose to pursue independent appraisal practices.

  • Can I work as a Revenue and Taxation Appraisal Specialist part-time?
    While many positions are full-time, part-time opportunities may exist, especially in private firms or as freelance appraisers. Flexibility in workload may depend on client needs.

  • How does technology impact this profession?
    Technology plays a significant role in property appraisal. Software tools help streamline data analysis, create reports, and maintain up-to-date information on property values and trends.

  • What are the challenges faced by Revenue and Taxation Appraisal Specialists?
    Common challenges include navigating fluctuating real estate markets, keeping up with changes in tax laws, and ensuring accurate assessments against public scrutiny.