ALEXANDRIA, VA — Alexandria’s taxable property value overall increased 4.15 percent when compared to January of 2019, according to data presented to City Council Tuesday night.
The 4.15 percent overall increase in property value between 2019 and 2020 is a significant change from the 2.71 percent increase from 2018 to 2019. This year, the city’s tax base increased by about $1.89 billion, most of which was due to appreciation of existing properties. Appreciation accounted for $1.46 billion of the increase, and $428.6 million came from new development or improvements. Although property values increased on average, an individual property’s value may have increased, decreased or remained unchanged.