DC Experiences Rise of Property Assessments

DC Experiences Rise of Property Assessments

Over the course of the past year, residential property assessments increased by six percent, according to Yesim Sayin Taylor from the DC Office of the Financial Officer.

In 2016, the tax assessment total for the District’s housing stock is $105 billion. This growth is six times more than the property tax assessments from 2000, and is mainly attributed to new home construction.

“The broad swath of neighborhoods falling under the umbrella of Old City 1 and Old City 2, which encompass everything from Adams Morgan to the U Street Corridor to parts of Southwest Waterfront, saw the largest volume increase for assessments, which isn’t surprising. Most of the $1.6 billion in growth in these neighborhoods came from new housing stock. However, the highest growth in assessments were seen in northeast DC neighborhoods like Riggs Park (16%) and Trinidad, LeDroit Park, and Eckington, where assessments grew 12 percent,” according to this article.

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