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City of Alexandria, VA City of Alexandria, VA
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Page updated Oct 27, 2015 3:35 PM

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Real Property Assessment Information

Real property assessments in the City of Alexandria are performing similarly to those in other close-in Northern Virginia markets.  On a year-over-year basis, residential values posted an increase of 4.33%, while commercial property values increased by 2.37%.

The total 2015 locally assessed real property tax base increased 3.50% from 2014. This marks the fifth year in a row that assessed values have increased after two consecutive years of declining values from 2009 to 2010.

The Residential Market 

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. This optimistic outlook is tempered by the Federal Reserve’s move to reverse its quantitative easing policy in favor of a market-based mortgage industry which could result in higher interest rates in 2015.

  • In 2015, the average value of existing residential property, including single-family and condominium is $509,853, an increase of 3.08% from the previous year's equalized values.
  • The average single-family house is assessed at $702,098, an increase of 2.92%.
  • The average residential condominium is assessed at $302,842, an increase of 3.51%.
  • For 2015, 80% of residential properties increased in value, 9% decreased, and 11% are unchanged.

The Commercial Market 

Commercial assessment increases in 2015 are primarily attributable to the continued expansion of multi-family residential housing and improvement in the general commercial areas of the market.  The City’s office market continues to face challenges due to a general lack of demand.  Increases in direct vacancy, tenant concessions, and capitalization rates, in combination with lower effective rents and continued space compression upon renewal.

By leveraging technological resources to gain efficiencies, the Office continues to make it easier for larger commercial property owners to electronically file Income and Expense Surveys using our web-based reporting system. Instructions for utilizing the application are available on the ’s website at  Income and Expense Surveys will be mailed in early March and have a filing deadline of May 1.