According to the City of Alexandria, real property assessments here are performing similarly to those in other close-in Northern Virginia markets. On a year-to-year basis, residential values posted an increase of 4.80%, while commercial property values increased by 1.93%.
The total 2014 locally assessed real property tax base increased 3.56% from 2013. This marks the fourth year in a row that assessed values have increased over two consecutive years of declining values from 2009 to 2010.
For Del Ray in particular, improving market conditions for homeowners are due to:
- relatively low unemployment
- low interest rates
- a constrained supply in combination with pent-up demand
- the significant number of high paying jobs and
- a prime location inside the Capital Beltway
Want to know more about what is available in the Del Ray market? Give me a call at 703.927.4554.
Michael
The post City of Alexandria Property Assessments Continue to Increase appeared first on GW Slept Here.
