Apr 10, 2024 - Real Estate

DMV property taxes jump

Change in median property taxes, 2019 to 2023
Data: CoreLogic analysis. Map: Axios Visuals

Median property taxes in D.C., Maryland, and Virginia jumped between 2019 and 2023, per CoreLogic data.

Why it matters: As tight inventory and competition keep DMV prices high, costlier property taxes could further strain buyers' budgets.

State of play: Of the three, Virginia's taxes have increased the most, from a median of $2,036 in 2019 to $2,554 in 2023 — a 25.4% increase.

  • D.C. went up 16.9%, from $3,483 to $4,074.
  • Maryland's increased from $3,330 to $3,879, by 16.5%.

Zoom out: Nationally, median property taxes jumped 21.6%.

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