Commercial Property Trends in Harris County Appraisal District Texas

The commercial property market in Harris County Appraisal District is constantly evolving, reflecting shifts in economic growth.

Value Allocation in the Harris County Commercial Property

  • Apartments and retail properties comprise 53% of the commercial value allocation, according to HCAD appraisal data
  • Warehouses and offices contribute 34% of the total value allocation
  • Medical and hotel properties contribute only 9% of the total value allocation based on the Harris County Appraisal District evaluations.

Commercial property value allocation highlights the significant contributions of specific property types. Apartments and retail properties lead the way in HCAD appraisal district data, accounting for a major share of the total valuation.

HCAD Commercial Property Value Trends

  • The total value of commercial properties increased by 7.0% from 2023 to 2024, indicating a positive market outlook, according to HCAD data.
  • Medical properties saw the highest growth at 11.1%, with retail and warehouse properties following closely at 12.1% and 10.3%, respectively.
  • Apartments (-6.7%) and hotels/motels (-10.8%) saw a decrease in value, reflecting challenges in these sectors compared to 2023, according to HCAD evaluations.

The Harris County property records show commercial property market has experienced significant shifts in reappraisal, with some sectors showing growth while others faced declines.

Rising Commercial Property Values Highlighted by HCAD in 2024

  • The overall commercial tax base has increased by an estimated 7%.
  • Over half (51.8%) of properties experienced a rise in their estimated value, according to HCAD data.
  • 27.7% of properties retained the same estimated value as the previous year.

The 2024 Harris County Appraisal District`s commercial tax base reflects notable shifts in property valuations, impacting tax obligations for property owners.

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