N.Y. Comp. Codes R. & Regs. tit. 19 § 1102.3

Current through Register Vol. 46, No. 45, November 2, 2024

Section 1102.3 - Appraisal experience schedule

(a) Hours of experience shall be credited to an applicant based on actual time spent on appraisal assignments up to a maximum numbers of hours in accordance with the following schedule. Except as provided for by paragraph (b) of this section, experience credits may only be granted for the following types of appraisal assignments.

APPRAISAL EXPERIENCE SCHEDULE

Type of Property Appraised	Assigned hours	cannot exceed
Residential	Standard Appraisal	Review Appraisal
Residential Single-Family (Single Co-op or Condo)	6	1.5
Residential Single-Family Complex (Waterfront or Unique)	20	5
Residential Single-Family Complex (Over $5,000,000)	40	10
Residential Multi-Family (2-4 units)	12	3
Vacant Lot (Residential, 1-4 units)	6	1.5
Farm (Less than 100 acres, with residence)	18	4.5
General
Land: Farms of 100 acres or more in size, undeveloped tracts, residential multi-family sites, commercial sites, industrial sites	30	7.5
Complex Farms
100 acres or more in size, multi-building with Processing facilities	40	10
Residential Multi-Family (5-12 units):
Apartments, condominiums, townhouses and mobile home parks	36	9
Residential Multi-Family (13 or more units):
Apartments, condominiums, townhouses and mobile home parks	48	12
Commercial/Industrial Single-Tenant:
Office buildings, R&D, retail stores, restaurants, service stations, warehouses, day care centers, and other similar buildings	48	12
Commercial/Industrial Multi-Tenant:
Office buildings, R&D, shopping centers, hotels, warehouses	60	15
Manufacturing plants	48	12
Institutional:
Rest homes, nursing homes, hospitals, schools, churches, government buildings	48	12

(b) If an applicant has appraisal experience for a type of property that is not listed in the appraisal experience schedule, the applicant may receive credit for the appraisal experience if the Department of State determines that the appraisal experience is substantially equivalent, for experience purposes, to an appraisal for one of the types of property that is listed in the appraisal experience schedule. However, the burden shall be on the applicant to establish to the satisfaction of the Department of State that the appraisal experience is substantially equivalent to an appraisal of one of the types of properties listed in the appraisal experience schedule.

N.Y. Comp. Codes R. & Regs. Tit. 19 § 1102.3

Amended, New York State Register December 31, 2014/Volume XXXVI, Issue 52, eff.1/1/2015

Amended New York State Register October 18, 2017/Volume XXXIX, Issue 42, eff. 10/18/2017