Starting in 2012, it will become more expensive to be a licensed or certified appraiser in the United States.
The Appraisal Subcommittee (ASC) recently announced an increase in the annual registry fee for state licensed and certified appraisers, effective January 1, 2012. The fee, which has been $25 per year since its inception, will increase to $40 per year per appraiser. Individual state licensing and certification agencies are responsible for collecting this fee and forwarding it to the ASC.
This will mean that starting in 2012, renewal costs will increase by $15 for appraisers in states with annual renewal cycles, $30 for appraisers in states with biennial renewal cycles, and $45 for appraisers in states with triennial renewal cycles.
The announcement was made at this time in order to give states a reasonable amount of time to implement the increase. The ASC has stated that this fee increase is necessary to support its additional regulatory activities that were mandated by the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act earlier this year.
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