TITLE 18. PROFESSIONAL AND OCCUPATIONAL LICENSING
TITLE 18. PROFESSIONAL AND OCCUPATIONAL LICENSING
REAL ESTATE APPRAISER BOARD
Final Regulation
REGISTRAR'S NOTICE: The following regulatory action is exempt from Article 2 of the Administrative Process Act in accordance with § 2.2-4006 A 4 c of the Code of Virginia, which excludes regulations that are necessary to meet the requirements of federal law or regulations, provided such regulations do not differ materially from those required by federal law or regulation. The Real Estate Appraiser Board will receive, consider, and respond to petitions by any interested person at any time with respect to reconsideration or revision.
Title of Regulation: 18VAC130-30. Appraisal Management Company Regulations (amending 18VAC130-30-60).
Statutory Authority: § 54.1-201 of the Code of Virginia.
Effective Date: March 12, 2025.
Agency Contact: Anika Coleman, Executive Director, Real Estate Appraiser Board, 9960 Mayland Drive, Suite 400, Richmond, VA 23233, telephone (804) 367-8552, FAX (866) 826-8863, or email reappraisers@dpor.virginia.gov.
Summary:
The amendments (i) align the regulation with federal requirements by clarifying that a National Registry fee of $25 will be charged for each appraiser who has performed an appraisal for the appraisal management company in Virginia during the previous year and (ii) remove outdated provisions.
18VAC130-30-60. Fee schedule.
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Fee Type
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Fee Amount
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When Due
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Initial Application - Appraisal Management Company
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$340
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With application
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Renewal - Appraisal Management Company
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$150
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With renewal application
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Reinstatement - Appraisal Management Company
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$490 (includes a $340 reinstatement fee in addition to the regular $150 renewal fee)
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With reinstatement application
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For licenses expiring on August 31, 2019, and before February 1, 2020, the renewal fee shall be as follows:
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Renewal - Appraisal Management Company
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$75
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With renewal application
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For licenses expiring on August 31, 2019, and before February 1, 2020, the reinstatement fee shall be as follows:
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Reinstatement - Appraisal Management Company
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$415 (includes a $340 reinstatement fee in addition to the $75 renewal fee)
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With reinstatement application
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Each appraisal management company shall be assessed a National Registry fee in accordance with § 1109 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 USC §§ 3331-3356) (the Act). The National Registry fee will be $25 multiplied by the number of appraisers working for or contracting with who have performed an appraisal for the appraisal management company in Virginia during the previous year. The minimum National Registry fee will be $25. This fee may be adjusted and charged to the appraisal management company in accordance with the Act. If an applicant fails to qualify for licensure, then the National Registry fee will be refunded.
VA.R. Doc. No. R25-8137; Filed January 10, 2025