I noticed something when I took a look at the DC Real Estate Tax Assessment database. It is pretty much a given that the city will assess properties to be worth more than they were last year, so that, I expected. Yet when I took a look at the “Preliminary Assessment Roll” which breaks down the property values into land, improvements, and the total value I noticed a big change from the current value and the proposed value. DC has decided to pump up the land value.
Sample Assessment:
| What is assessed | Current Value | Proposed New Value (2007) | |
| Land | $88,150 | $259,920 | |
| Improvements | $105,910 | $122,200 | |
| Total Value | $194,060 | $382,120 | |
| Taxable Assessment: | $194,060 | $382,120 |
The above table I swiped from the database to show how the land value was increased. So the 2007 assessment will make the fact that one house is a rehabbed jewel and the crack house next door irrelevant because the land (provided they are similar plots) is worth the same.
Discuss.