The value of D.C. real estate will rise an average 7.54 percent in 2009, according to property assessments to be mailed today, a drastic reduction from previous years but still far stronger than in surrounding areas.

The mailings come two days after Chief Financial Officer Natwar Gandhi announced that the District faces a $96 million budget deficit in 2009. That shortfall is blamed on a crash in income, property transfer fees and sales taxes, not the real estate market.