Understanding Ellis County Texas Property Tax And Commercial Market Trends

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Trends in New Commercial Construction Permits and Values

  • In 2024, approximately 2,972 new private housing permits were issued reflecting strong ongoing development activity
  • Commercial project approvals covering shops, warehouses, and industrial builds are managed by Department of Development, requiring multiple permits and engineering review
  • The overall value of new commercial construction has climbed steadily, with major investments in logistics and retail infrastructure.

New construction trends in Ellis County signal a strong demand for multi-family housing and continued growth in commercial development, as reflected in Ellis County Appraisal District assessments.

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Adjustments in the Office Market

  • New office space deliveries totaled approximately 1.07 million square feet in 2024, a notable increase from 830,789 square feet in the previous year.
  • At the end of 2024, 721,503 square feet of office space remained under construction, reflecting a decrease from 1.9 million square feet in the prior year.
  • Approximately 301,014 square feet of office space was absorbed during the year, contributing to a slight reduction in vacancy rates to 22.5%, down from 23.2% the previous year.

These trends indicate ongoing adjustments with shifts in construction activity, space absorption, and vacancy rates impacting property valuations and Ellis County Texas property tax assessments.

Apartment Market Overview

  • A total of 1,820 new apartment units were delivered, up from 1,380 units in the previous year.
  • 1,150 units were absorbed, but occupancy dropped slightly to 88.2%, down from 89.5%.
  • Rental rates saw a modest increase of 0.5%, while the median sales price per unit decreased to $135,234 from $142,671 in the previous quarter.

The apartment market ended the year with positive absorption, reflecting growth in new construction and solid demand for units. Key metrics from the Ellis County CAD show a mixed trend in rental rates and occupancy.

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Texas Retail Sector

  • A total of 850,000 square feet of retail space was delivered, down from 1.2 million square feet the previous year.
  • 1.1 million square feet of retail space was absorbed, while vacancy rates decreased slightly to 7.2%, down from 7.5% the previous year.
  • Rental rates remained stable at 5.2%, consistent with previous years.

Despite some market challenges, the retail sector has demonstrated resilience with steady absorption and relatively stable rental rates. Key metrics from the Ellis County Central Appraisal District show a slight slowdown in new construction but steady demand for retail space.

Warehouse Market Overview

  • In 2024, approximately 774,227 square feet of new warehouse space was delivered, a decrease from the previous year.
  • The county absorbed around 691,863 square feet of warehouse space, with vacancy rates at 8.8%, up from 8.4% in the prior year.
  • Despite the increase in vacancy rates, rental rates remained steady at $7.38 per square foot.

These trends indicate a stabilizing warehouse market with steady absorption and consistent rental rates. Key metrics from Ellis County Texas property tax assessments reflect these developments in property valuations.

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