Hoosier State Chapter of the Appraisal Institute

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Hoosier State Chapter of the Appraisal Institute Advancing Indiana's appraisal professionals through education, connection, leadership and industry excellence. We are home to Indiana’s premier appraisers.

As the local organization of the Appraisal Institute, we host chapter meetings and sponsor educational offerings.

𝐑𝐞𝐚𝐝𝐲 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐜𝐨𝐬𝐭 𝐚𝐩𝐩𝐫𝐨𝐚𝐜𝐡 𝐢𝐧 𝐭𝐡𝐞 𝐧𝐞𝐰 𝐔𝐑𝐀𝐑?Join us for Cost Approach and Site Valuation in the New URAR—a practical, fo...
10/15/2026

𝐑𝐞𝐚𝐝𝐲 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐜𝐨𝐬𝐭 𝐚𝐩𝐩𝐫𝐨𝐚𝐜𝐡 𝐢𝐧 𝐭𝐡𝐞 𝐧𝐞𝐰 𝐔𝐑𝐀𝐑?

Join us for Cost Approach and Site Valuation in the New URAR—a practical, four-hour seminar that uses a residential case study to help you strengthen your analysis and reporting.

Build confidence in:
*Completing the new cost approach reporting fields
*Selecting and supporting cost data
*Analyzing depreciation, effective age, and remaining economic life
*Developing and reconciling site value
*Classifying dwellings, outbuildings, and site improvements

Whether you work in suburban markets or rural areas with limited sales data, gain practical tools for credible, well-supported conclusions.

Strengthen your analytical skills. Enhance your reporting. Elevate your practice.

This is the first time the seminar has been offered anywhere, taught by instructor Jason A. Tillema, SRA, AI-RRS.

Join synchronously from wherever you are, or attend the classroom premiere at the Biltwell Event Center in Indianapolis, presented with the Hoosier State Chapter.

Open to members and non-members.
November 10 | 8:30 AM to 12:30 PM ET

Register for Classroom: https://vist.ly/5nj2q

Register for Synchronous: https://vist.ly/5nj2s

The new URAR doesn't just change how you report the cost approach. It changes how you develop, support, and defend it. C...
10/12/2026

The new URAR doesn't just change how you report the cost approach. It changes how you develop, support, and defend it. Cost Approach and Site Valuation in the New URAR is a new 4-hour CE seminar for residential appraisers.

You'll work through a full residential case study, from replacement cost new and depreciation to site valuation and reconciliation, with instructor Jason A. Tillema, SRA, AI-RRS.

It premieres November 10, presented with the Hoosier State Chapter. Open to members and non-members.

Join live online: https://vist.ly/5mzx7

Attend in person in Indianapolis: https://vist.ly/5mzx9

The Appraiser as an Expert Witness: Preparation and Testimony with Instructor Rick L. Carlile, MAI, SRA, AI-GRSThis cour...
09/22/2026

The Appraiser as an Expert Witness: Preparation and Testimony with Instructor Rick L. Carlile, MAI, SRA, AI-GRS
This course introduces the basic concepts and strategies needed to engage in litigation valuation.
https://vist.ly/5jf8t

WIN Event with Nina Wiseman! Enjoy a delicious lunch, networking and an insightful presentation.https://vist.ly/5jesf ...
09/22/2026

WIN Event with Nina Wiseman! Enjoy a delicious lunch, networking and an insightful presentation.
https://vist.ly/5jesf

Is Your Analysis of Senate Bill 1 USPAP Compliant?Indiana Senate Bill 1 has changed Indiana's property tax landscape. Bu...
07/20/2026

Is Your Analysis of Senate Bill 1 USPAP Compliant?

Indiana Senate Bill 1 has changed Indiana's property tax landscape. But has it changed market values?

As appraisers, we don't assume—we analyze, support, and report.

USPAP requires appraisers to develop credible assignment results by analyzing the market rather than relying on assumptions.
Standards Rule 1-1 requires appraisers to be aware of, understand, and correctly employ recognized methods and techniques necessary to produce credible assignment results. Standards Rule 1-4 requires appraisers to collect, verify, and analyze the information necessary to develop those results.

So, what should we do?

• Interview buyers, sellers, brokers, and investors.
• Analyze recent market activity.
• Monitor trends in pricing, demand, and investment behavior.
• Determine whether market participants are reacting to the property tax changes.

If the market is responding, report it and support your conclusions with market evidence.

If the market is not responding, report that as well.

The key is that our conclusions must be based on evidence—not speculation.

Legislation does not establish market value. Market participants do. Our responsibility under USPAP is to recognize, analyze, and report how the market is responding.

Don't overlook this issue in your market analysis. Consider whether Senate Bill 1 is relevant to your assignment and whether there is credible evidence that it is influencing market participant behavior. Your report should clearly explain your analysis and support your conclusions with market evidence.

A well-supported market analysis isn't just good appraisal practice—it's fundamental to USPAP compliance.

Is Senate Bill 1 Changing Market Values?That is what appraisers must answer.Senate Bill 1 does affect taxes, but that do...
07/16/2026

Is Senate Bill 1 Changing Market Values?

That is what appraisers must answer.

Senate Bill 1 does affect taxes, but that does not necessarily mean the market will recognize these impacts with changes in market values.

Our responsibility as appraisers is to determine whether those tax changes are influencing market participants.

That means asking questions such as:
• Are buyers willing to pay more because property taxes are lower?
• Are investors revising their return expectations?
• Are capitalization rates changing?
• Has demand increased for certain property types?

These are the questions that lead to a credible, USPAP-compliant market analysis.

One important point to remember: The properties receiving the greatest tax relief are not necessarily the properties experiencing the greatest change in market value. Market value is established by the actions of buyers and sellers—not by legislation.

Don't assume - Investigate. Analyze. Support your conclusions with market evidence.

Indiana Senate Bill 1: What Appraisers Need to KnowHave you heard about Indiana Senate Bill 1 (SEA 1)?Signed into law by...
07/14/2026

Indiana Senate Bill 1: What Appraisers Need to Know

Have you heard about Indiana Senate Bill 1 (SEA 1)?

Signed into law by Governor Mike Braun on April 15, 2025, most provisions became effective July 1, 2025, with many of the property tax changes being phased in over the next several years.

So, what does it do?

In simple terms, Senate Bill 1:
• Reduces property taxes for many Indiana property owners.
• Expands and creates new property tax credits and deductions.
• Limits future property tax growth.
• Changes how property taxes are calculated for many properties.

If you have not researched it yet, it is time to do so. Run a search on Indiana Senate Bill 1 and begin thinking about the possible impacts on property values.

Over the next week we will be discussing possible considerations for appraisers in Indiana and what you may want to consider in conducting your appraisal reports.

Indiana Senate Bill 1: Is Your Market Analysis Current?Indiana Senate Bill 1 is one of the most significant property tax...
07/13/2026

Indiana Senate Bill 1: Is Your Market Analysis Current?

Indiana Senate Bill 1 is one of the most significant property tax reforms enacted in Indiana in recent years. Among other changes, the law expands homestead deductions, places additional limits on future property tax growth, phases in new tax relief measures, and modifies the way property tax bills are calculated for many property owners. The result is that tax liabilities may change across many property types over the next several years.

These changes may impact market values. Property taxes are a fundamental consideration for buyers, investors, developers, and lenders because they directly affect affordability, operating expenses, and investment returns. As tax burdens change, market participants may adjust what they are willing to pay for real estate.

As appraisers, our responsibility is not to assume an impact—it is to monitor the market and determine whether market participants are reacting to these changes. Make sure that your reports are discussing and considering impacts on market values.

As part of your analysis and reporting, consider:
✅ Are buyers discussing property tax savings during negotiations?
✅ Have investors adjusted pricing or return expectations?
✅ Are capitalization rates changing?
✅ Is there evidence that the market is responding to the new tax environment?

Market value reflects the actions of market participants—not the passage of legislation alone. As Senate Bill 1 is implemented, appraisers should closely monitor their local markets and update their analyses whenever credible market evidence demonstrates a change in buyer or investor behavior.

Legislation doesn't determine market value. The market does. Our job is to recognize when one begins to influence the other.

Please Join Us in Welcoming Our New Executive Director!The Hoosier State Chapter of the Appraisal Institute is excited t...
07/09/2026

Please Join Us in Welcoming Our New Executive Director!

The Hoosier State Chapter of the Appraisal Institute is excited to welcome Carmen Bierschwale as our new Executive Director!

Carmen brings a wealth of experience working with professional appraisal organizations and has a strong background in business management. She holds a bachelor's degree in Agricultural Economics from Texas A&M University and has served as the Office Manager for her family's appraisal firm, Bierschwale Land Company.

Beyond her professional experience, Carmen is active in her community, values family, and is enthusiastic about supporting the members of the Hoosier State Chapter.

Please join us in giving Carmen a warm Hoosier welcome! We look forward to working together as we continue to advance appraisers and the profession through education, advocacy, and leadership.

Welcome to the Hoosier State Chapter, Carmen!

The Hoosier State Chapter is pleased to announce its 2027 Leadership Team!Please join us in congratulating the following...
06/24/2026

The Hoosier State Chapter is pleased to announce its 2027 Leadership Team!

Please join us in congratulating the following members who have stepped forward to serve our chapter:

🔹 President – Bryan Wallace, SRA
🔹 Vice President – Lucas Grecco, MAI
🔹 Secretary/Treasurer – John Good, MAI, SRA, AI-GRS, AI-RRS
🔹 Directors at Large – William Penwell, SRA and Gwendolyn Sims
🔹 Regional Representative Alternate – Charles J. McCarty, MAI, ARA, SR/WA

We appreciate their commitment to the appraisal profession and their willingness to lead and serve the Hoosier State Chapter. We look forward to an exciting and successful 2027 under their guidance.

Congratulations and thank you for your service! 👏

Address

9247 N Meridian Street Ste 102
Indianapolis, IN
46260

Telephone

+13178151340

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