travis central appraisal district property Market Trends for Commercial Property 

Travis County Appraisal District: Overview of Commercial Property 

In 2023, the Travis County Central Appraisal District reported a total appraisal roll value of $463.3 billion, an 8.14% increase from the previous year. Commercial properties contributed $159.4 billion to this total, reflecting significant growth in sectors like retail, warehouse, and mixed-use developments. TCAD’s reappraisal efforts ensured market-aligned valuations for equitable taxation.

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Trends in New Construction Permits and Value in Travis County 

  • In 2023, the total number of noticed commercial properties decreased by 2.5%, from 21,361 in 2022 to 20,827. However, the percentage of properties noticed by April 15th increased to 96.1%, showing a 1.8% improvement in timeliness.
  • Total protests for commercial properties rose by 4.3%, from 14,585 in 2022 to 15,205 in 2023. Formal hearings saw a significant 16% increase, reaching 5,122 cases in 2023.
  • The number of permits processed for commercial properties increased sharply by 38.9%, from 3,745 in 2022 to 5,200 in 2023, reflecting heightened construction and development activity.

Permit trends reveal ongoing construction activity, underscoring Travis Central Appraisal District Property development potential

Adjustments in the Travis County Office Market 

  • Office property appraisals reflected market adjustments due to changes in workforce dynamics and vacancy challenges.
  • TCAD adjusted property values to align with evolving market conditions, ensuring fair valuation for property owners and taxing entities
  • Office property valuations were adjusted to reflect vacancy challenges in key districts.
  • Increased demand for flexible workspaces, particularly in suburban areas.
  • Travis CAD supported these adjustments by analysing over 15,000 office property sales​

The office property market in Travis County showed the following dynamics:

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Travis County Apartment Market Overview

  • Rising demand for affordable housing led to targeted initiatives for multi-family property valuations.
  • New developments in suburban areas increased, reflecting changing preferences among renters.
  • Reappraisal efforts identified opportunities for improved valuation precision in high-growth neighborhoods.

In 2023, multi-family properties accounted for $54.1 billion in total appraised value, the apartment market in Travis County showcased notable trends reflecting shifts in rental demand and housing affordability.

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Houston Texas Retail Sector 

  • Retail property valuations increased by over 10%, with the highest growth recorded in northern and suburban areas.
  • Significant investments in mixed-use developments, combining retail and residential, fueled growth.
  • E-commerce and logistics facilities also contributed to retail valuation trends.

Retail properties experienced strong growth in 2024, supported by robust consumer spending and new developments:

Travis County Warehouse

  • Warehouse properties experienced substantial increases in appraised values, reflecting the sector’s importance to the supply chain and logistics industries.
  • The demand for warehouses, especially near transportation hubs, underscores their strategic role in regional economic growth​

The warehouse market in Travis County CAD showed robust growth as a critical asset class, driven by the e-commerce boom and logistics demand:

travis central appraisal district property