Real estate assessments are starting to arrive in Alexandria property owners’ mailboxes.
The assessed 2018 value of most properties is up again this year in the City of Alexandria. About 77.4 percent of homeowners saw an increase in value, 12.6 percent decreased, and the remainder saw no change.
Year-over-year, single-family residential values increased by 3.4 percent. This is the 8th year in a row that assess values have increased.
The average single-family house was assessed at $752,585 at the start of 2018. The average condominium is assessed at $324,024.
“Improving housing market conditions in Alexandria 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 its prime location inside the Capital Beltway with four operating Metro stations,” according to City of Alexandria documents.
If you disagree with your assessment, you may appeal. The deadlines for requesting a Review of Assessment is just a month away — March 15. The deadline to file an appeal is June 1, 2018. To take either of these steps, go to www.alexandriava.gov/realestate.
The City Council is scheduled to set the 2018 tax rate on May 3, 2018.
