What is the total property value in the city?

To determine the total property value in the city, it is essential to look at various contributing factors such as the total assessed values of properties within the municipal boundaries, data from recent real estate transactions, and evaluations of market trends. The choice of $5,495,000 as the correct answer suggests a careful calculation that likely considers these parameters comprehensively.

This total property value reflects the aggregation of all properties listed or assessed within the city's jurisdiction, making it a crucial figure for understanding the overall real estate market and potential tax revenue for the city. Correctly identifying this amount is fundamental for stakeholders, including city planners, investors, and policy makers, as it helps inform decisions regarding property taxes, infrastructure investments, and economic development initiatives.

In this context, the other values provided do not align with the computed data reflecting the total assessed property value in the city, indicating that they may either underrepresent or overstate the figures based on the mentioned criteria. The chosen amount, therefore, is supported by analytical real estate evaluations and the current market value of properties within that city space.