We’ve compiled over 10 years of tax information in order to understand how the Tysons area has evolved and continues to evolve since 2000. Some interesting points, in 2010 and 2011 Tysons (and most of Northern Virginia) saw some major assessed value depression caused largely by a reduction in government contracts. This was most prominent in commercial and retail properties in 2010. The values remained low until after 2012. New construction and development, part of the comprehensive plan overhaul, has increased overall assessed values in Tysons above historic highs in 2009.
Values have risen from just under $5 billion assessed (2000) to over $11.8 billion (2014). We look forward to seeing what way the trends are heading in 2015, but expect further growth from new construction with the completion of VITA/Hyatt as well as six under construction high rises.