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IAAO <br />a The IAAO is a world - recognized membership <br />organization of property tax assessment <br />professionals. <br />o Its mission is to promote innovation and excellence <br />in: <br />• Property appraisal <br />• Property tax policy <br />• Assessment administration <br />Its role is to: <br />Improve the standards of professional practice <br />• Educate property tax administrators & appraisers <br />• Provide research & disseminate information on property <br />taxation to professionals & the public <br />Significance of IAAO Standards <br />o Provide broadly agreed upon goals and the <br />underlying basis for best practices: <br />Valuation system - <br />• Methods - Standard on Mass Appraisal <br />• Quality assurance - Standard on Ratio Studies <br />Taxation system (tax reform) - Standard on Property Tax <br />Policy <br />El Assessing officers are encouraged to use and <br />promote the standards <br />Policy makers are provided independent, largely <br />objective back up <br />o Represent a consensus of assessment professionals <br />