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New York Codes Rules Regulations (Last Updated: March 27,2024) |
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TITLE 19. Department of State |
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Chapter XXXI. Board of Real Estate Appraisal |
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Part 1102. Qualifying Experience |
Sec. 1102.3. Appraisal experience schedule
Latest version.
- (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 Appraised Assigned hours cannot exceed Standard Appraisal Review Appraisal Residential 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.