Real Estate Property Value In Alexandria Increase In 2020

The real estate market in Alexandria has seen a 4.15 percent increase in taxable property value when compared to January 2019, according to data presented to City Councils.

The increase is a significant jump from the 2.71 percent increase from 2018 to 2019. For residential properties the average assessment was 582,636 which represents a 4.62 percent increase with average assessment for single family homes increased by 4.13 percent to 800,025 and condominiums increased by 5.84 percent to 348,234. Commercial properties saw an average increase of 2.8 percent in assessment value with 5 percent for multifamily apartment development.

Property owners who wish to review their property value can request an assessment review from the Office of Real Estate Assessment or appeal to the Board of Equalization and Assessment Review. Any review request should be made by March 16 and any appeal should be requested by June 1.

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Jodi Ann

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Jodi has been trained in Data Entry, Operations Management and Administrative tasks. She also holds a Bachelors Degree in Banking and Finance with a hope of pursuing a Masters in Banking and Finance. She is a senior writer for Nesbitt Realty and an expert on Alexandria Virginia. Outside of work, Jodi enjoys spending time with her son and her family.