Understanding the CMI-Property Tax Designation
Institute for Professionals in Taxation
The Institute for Professionals in Taxation (IPT) has been around since 1976 and is a not-for-profit education association serving more than 6,000 members. As noted by the Institute itself, it is the only professional organization that educates, certifies and establishes strict codes of conduct for property tax professionals who represent taxpayers.
The IPT organization continually educates on property tax matters through various programs and classes. The CMI designation means Certified Member of the Institute, and it has been attainable since 1979. This certification is difficult to obtain and is more than a mere credential; it is a demonstration of expertise in business property taxation.
What the CMI Designation is NOT
To be very clear about what the CMI-Property Tax designation is NOT, it is not an endorsement from the Institute for Professionals in Taxation for any individual or firm. Just like a CPA designation, holding this certification does not mean that the individual or firm is endorsed by the state agency that issued the designation. It means the individual has been recognized for dedicating numerous hours of study to the field of property taxation.
Requirements for CMI Designation Qualification
In order to qualify for the CMI, an individual must:
- Maintain membership in the IPT
- Document many years of property tax experience
- Complete several educational schools provided by IPT
- Successfully complete both the comprehensive and oral examinations given by the IPT
After attaining the CMI professional designation, certified members must maintain continuing education hours with the IPT. This is comparable to other professional designations such as CPA, JD, etc.
Why it Matters
Not all who attempt to attain CMI certification are successful. In fact, only about 1,000 property tax professionals nationwide have ever earned this coveted certification.
The process is arduous and long. The tests are difficult and taxing, and it takes a dedicated individual to complete the requirements. As of the time of this writing, there are only about 480 active CMI-Property Tax holders in the United States and Canada.
Individuals with the CMI-Property Tax designation show a commitment to the property tax industry. It is not an endorsement from IPT, but it does indicate experience and knowledge on behalf of the individual.
Find a CMI-certified property tax agent at Wayfinder