Commercial Property insights in Bexar County Tax Appraisal district

bexar county tax appraisal

Commercial Property Landscape in Bexar County Tax Appraisal district

Bexar county tax appraisal commercial property market showcases a dynamic mix of challenges and growth. From multifamily housing recovery to business personal property expansion, 2023 highlighted significant developments shaping the region’s economic landscape.

Multifamily Market Challenges and Recovery in San Antonio

  • After four quarters of negative demand, 3,100 units were absorbed in the past year, reflecting improved tenant activity.
  • New construction starts fell to 1,500 units in Q4 2023, slightly below pre-pandemic averages, aligning supply with demand.
  • High interest rates dampened sales activity, with 2023 recording the lowest sales volume on record for the market.

The San Antonio multifamily market has faced hurdles in recent years, with signs of recovery emerging in 2023. While supply-demand imbalances persist, improving leasing activity and a slowdown in construction point toward stabilization.

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Business Personal Property Market in Bexar County

  • The 2023 roll included 45,212 accounts valued at $20.7 billion, up from 44,796 accounts and $18.2 billion in 2022.
  • Amazon opened a 3.6 million-square-foot fulfillment centre, while Tesla, Kroger, and Boeing added significant facilities in the region.
  • Toyota, HEB, and Microsoft remain among the county’s largest taxpayers, underscoring their impact on the local economy

The Business Personal Property (BPP) sector in Bexar County saw growth and diversification in 2023, with increasing account values and new developments driving economic activity.