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COVID-19: Assessment Valuation Challenges Webinar (IMA/IPTI)
July 7 @ 11:30 am - 12:30 pm
COVID-19: Assessment Valuation Challenges – Webinar
Date: Tuesday, July 7th, 2020
Time: 11:30 am -12:30 pm (EST)
PREAMBLE: In this second of two panel discussions dealing with the effects of the COVID lockdown our panelists will consider the market realities associated with four particular market sectors. Retail – Office – Hotels – Long-Term Care Properties. As an example, this situation has the potential to have a catastrophic economic impact on hotels in general and especially those geared to tourism. As low as 10% occupancy has already been observed in some cases and there is no knowing what the long term effects will be for this property grouping. Commercial tenants and owners are looking for solutions that are sustainable in the short term and adjustable and viable in the longer term, these could include among other things, rental abatements, rent payment deferrals, lobbying governments for property tax relief. Assessors need to be aware of and incorporate the current market conditions into their ongoing analysis. Broad overarching inferences should be avoided as they don’t serve to describe with precision the elements currently affecting value and therefore cannot appropriately inform any effective action. Data driven sector specific observations provide the basis for productive discussion and serve to inform valuation decisions both now and as the situation evolves.
Please see our flyer for more details: IMA IPTI Covid 19 Asst Challenges July 7 2020 Flyer FINAL