Death and taxes...
You've heard that one before. How's this for adding insult to injury?
Alexandria Virginia homeowners are still trying to digest the news that their homes have slipped in value. Well, unless you've been ignoring the national, regional, and local news, or haven't crawled out of your shell in a while, you were well aware that home values in Alexandria which had skyrocketed over the past 5 or 6 years took a little hit over the last year. It's just that it's different when you see the reality printed on a little piece of paper you received in the mail about a month ago -- the annual tax assessment.
Read about it here: You've Got Bad News & Good News -- Which Do You Want to Hear First?
Seeing it in writing somehow makes it official. Unless you are trying to sell your home or refinance to access your equity for home renovations, this small slip in value of Alexandria properties will not affect you greatly.
Now, word is out that the City of Alexandria has proposed to increase the real estate property tax by up to 3 cents to 86 cents per $100 of assessed value. The City Council just voted on this the other day and the news was released.
Judging by the number and tone of the comments on the WTOP News website which reports this story, Alexandria residents are none too happy to hear that their tax rate on their depreciated property is increasing.
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