DC’s Office of Tax and Revenue has sent new property assessments to homeowners in the city, and the proposed average residential increase is 3.46%, with significant neighborhood to neighborhood variation. The proposed increase for commercial properties is 3.92%.
The assessments are slated to rise the most in Wards 7 and 8, east of the Anacostia. The Lily Ponds neighborhood, located in Ward 7, could see property assessments rise 6.71%. In Ward 8’s Randle Heights, assessments are proposed to go up 6.24%.
The smallest proposed increase is in Fox Hall (1.54%); property assessments are proposed to decrease 1.2% in Foggy Bottom.
The new property assessments will be used to set property tax rates effective March 2021. Residential properties in the district are currently assessed at a value of $87 billion for 2021, up 3.46% from 2020.