Appraisal "Evaluations"

Once the Interagency Appraisal Guidelines went into affect in 2010, are we able base the Value of the property soley on the Tax Value from a Title Search or previous years paid taxes? I remember reading someplace that this is no longer the case. Would someone be able to push me in the right direction?

thanks!

From the Iteragency guidelines:

Tax Assessment Valuations (TAVs)
An institution may not rely solely on the data provided by local tax authorities to develop an evaluation unless the resulting evaluation is consistent with safe and sound banking practices and these Guidelines. (See the Evaluation Development and Evaluation Content sections.) . . . .

Does this rule pertain to loans made under 250k?

If the transaction amount falls outside the requirements for an appraisal then an evaluation must be performed.

The evaluation rules apply to all loans.

That is what I thought, Thanks Dan!!

Would the Reg B notice "Notice of Right to Receive Copy of Appraisal or Valuation Report" pertain to Bank-performed Evaulations as well?

Yes. In most cases an in-house evaluation will meet the definition of an appraisal. For additional information review Reg B section 1002.14(c) and its Commentary.

Yes