On October 1, MPAC hosted a virtual meeting of its Industry Advisory Group (IAG) to provide an update on our response to the pandemic, share insights on current market trends for key property sectors and hear from industry stakeholders about the pandemic’s impact on them.
During the meeting, our valuation experts provided attendees with an analysis of market activity leading up to and during the pandemic for the residential, farm, retail, multi-residential, hospitality and office property sectors. We also affirmed that while we don’t know when the next Assessment Update or valuation date will be, we continue our regular work to monitor the market, maintain an up-to-date property database, capture new assessments and support Requests for Reconsideration and Appeals.
This fall, we will form industry subcommittees to hear first-hand how sectors are being impacted by the pandemic to increase our understanding of various market sectors in this unprecedented time. We know the pandemic has not affected all sectors the same way, and some have been harder hit than others. Hearing from our industry stakeholders helps us gain a holistic picture of the broad impacts across different property sectors and across the province. If you would like to learn more about these subcommittees, send a note to firstname.lastname@example.org.