Will COVID Lower Property Valuations?
Possibly, But Not this Fiscal Year
Hawley's Financial Administrator and Assessors Clerk Virginia Gabert writes that there may be some confusion regarding the impact of COVID-19 on property values and valuations. Refering to a recent article in the DOR* publication City and Town, she reminds us that valuations are based on history, and that any COVID reverberations will be felt in FY2022, not this year, which is FY2021. 
Quoting the article directly, Virginia added, "'Over this next year, Assessors will be monitoring the real estate market and see its impact on sales and investment properties in preparation for assessments for FY2022.'"
* DOR = the Massachusetts Department of Revenue.
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