What is the purpose of the jurisdictional exception rule?

The jurisdictional exception rule primarily serves to provide a framework that allows certain established appraisal practices to take precedence over local laws and regulations when necessary, particularly in situations involving specific appraisals or assessments. This rule is significant because it recognizes that in some cases, broader jurisdictional considerations can influence how property is valued, especially in unique circumstances where adherence to local laws might hinder fair market value assessments.

By allowing the use of appraisal techniques or considerations that may deviate from existing laws, the jurisdictional exception rule ensures that valuations reflect current market conditions and realities, particularly in complex or rapidly evolving scenarios. This flexibility is important for appraisers and assessment professionals, as it underscores the importance of accurately estimating property values without being strictly bound by potentially outdated or overly restrictive regulatory frameworks.

This understanding helps in recognizing that the role of appraisal standards often necessitates a balance between local regulations and the practicalities of accurate property assessment, which can fluctuate based on economic factors and market dynamics. Hence, the rule is essential in maintaining the integrity and relevance of property assessments in varying contexts.