Apr 10, 2024 - Real Estate
DMV property taxes jump
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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%.