Sec. 1102.3. Appraisal experience schedule  


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  • (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 subdivision (b) of this section, experience credits may only be granted for the following types of appraisal assignments.
    APPRAISAL EXPERIENCE SCHEDULE
    Type of Property AppraisedAssigned hours cannot exceed
    Standard AppraisalReview Appraisal
    Residential
    Residential Single-Family (Single Co-op or Condo)61.5
    Residential Single-Family Complex (Waterfront or Unique)205
    Residential Single-Family Complex (Over $5,000,000)4010
    Residential Multi-Family (2-4 units)123
    Vacant Lot (Residential, 1-4 units)61.5
    Farm (Less than 100 acres, with residence)184.5
    General
    Land: Farms of 100 acres or more in size, undeveloped tracts, residential multi-family sites, commercial sites, industrial sites307.5
    Complex Farms
    100 acres or more in size, multi-building with Processing facilities4010
    Residential Multi-Family (5-12 units):
    Apartments, condominiums, townhouses and mobile home parks369
    Residential Multi-Family (13 or more units):
    Apartments, condominiums, townhouses and mobile home parks4812
    Commercial/Industrial Single-Tenant:
    Office buildings, R&D, retail stores, restaurants, service stations, warehouses, day care centers, and other similar buildings4812
    Commercial/Industrial Multi-Tenant:
    Office buildings, R&D, shopping centers, hotels, warehouses6015
    Manufacturing plants4812
    Institutional:
    Rest homes, nursing homes, hospitals, schools, churches, government buildings4812
    (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.