Issue 138 - August 2023
COVERAGE MATTERS
2023 Property Appraisal Program
The California JPIA strives to provide members with the most comprehensive property coverage. Agency assets, whether owned or in the member’s care, custody, or control, must be reported in the property schedule as accurately as possible. To that end, the Authority is working with CBIZ Valuation Group, LLC (CBIZ), a trusted leader in property valuation, to conduct appraisals for member properties valued at $1 million and above for participating property program members.
CBIZ has been an established business partner since 2019, when they conducted comprehensive onsite appraisals of over 5,000 member locations, contents, and land improvements to ensure that properties were reported at accurate values.
Much has changed since 2020, and as our member agency landscapes continue to evolve and inflation increases labor and material costs, appraisals are necessary to validate and update values reported in member property schedules. Onsite appraisal inspections are expected to begin in September 2023 and continue through January 2024.
CBIZ will contact members to schedule appraisals. It is anticipated that CBIZ will be on-site for one to five workdays, depending on the size of your organization and the number of locations. There is no additional cost to your agency for standard appraisals. Other services, such as appraising locations under $1 million or historical buildings, are available to members at a negotiated rate.
Members can learn more about the process on the property appraisals webpage.
If you have any questions, please contact Insurance Programs Manager Jim Thyden via email or call (562) 467-8784.
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