The City’s Take on Its Booming Neighborhoods
Last week, I wrote about the D.C. neighborhoods with the fastest-rising home prices, according to the Washington DC Economic Partnership. Georgia Avenue/Walter Reed, Kennedy Street, and Fort Totten led the way, each experiencing 25 percent growth in home-sale prices between 2012 and 2013.
Now the city's come out with its official version, of sorts. As first reported by Michael Neibauer today, the city has released its proposed 2015 property tax assessments, broken down into 62 neighborhoods. The biggest growth in property values between the 2014 and 2015 assessments comes in Trinidad (24 percent), followed by Petworth (18 percent), Brookland (17 percent), Columbia Heights (16 percent), and LeDroit Park (15 percent).
These neighborhoods got lower billing in the WDCEP rankings. That shouldn't come as a surprise. The city's tax assessments tend to lag behind the reality in fast-changing neighborhoods, and the neighborhoods that come out on top in the city's assessment are the ones that have boomed over the past few years. Meanwhile, the WDCEP leaders are slightly more outlying neighborhoods, which are coming up faster as fast-rising prices in the more established middle-class neighborhoods like Petworth and Columbia Heights begin to level out.
Here's the full list from the city. See the second page for residential assessments:
Image from Google Maps