Commercial Property Trends in Smith County Appraisal District Texas

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Value Allocation in the Smith County Commercial Property

  • Commercial real estate accounts for 11% of Smith County’s total appraised value, totaling $4.13 billion across office buildings, retail spaces, and mixed-use developments.
  •  Industrial properties contribute 1%, with a combined market value of $503 million, including warehouses, factories, and manufacturing facilities.
  •  Utilities and energy assets (including oil, gas, and electric infrastructure) make up an additional 3%, adding $601 million from utilities and $288 million from mineral resources.

This diverse mix highlights the vital role commercial property plays in Smith County’s economy and tax base.

Harris County Appraisal District Texas
Harris County Appraisal District Texas
Commercial-Property-Stats
COMMERCIAL VALUES

Smith County Appraisal District: Commercial Property Value Trends (2023-2024)

  • Overall commercial values rose by 18%, reflecting a strong market and prompting many property owners to challenge new assessments.
  •  Hotel values surged by 46.7%, while retail property values jumped 41.7%, highlighting significant growth in hospitality and shopping sectors.
  •  Warehouses saw a 20% increase, and apartment buildings appreciated by 38%, whereas office properties climbed approximately 18%, emphasizing broad-based strength across commercial types.

These shifts show that while some sectors are booming, others may face assessment challenges making now a critical time to review and, if needed, protest your appraisal with Smith County CAD.

2024 Commercial Property Value Trends

  •  Overall commercial property values increased by approximately 18% from 2023 to 2024, a sharper rise than residential properties (which rose around 11%) – indicating stronger reassessment focus on commercial sectors.
  •  Hotels saw the steepest increase at 46.7%, followed closely by retail properties with a 41.7% jump, reflecting a rebound in tourism and local business activity.
  •  Warehouse values rose by 20%, while office buildings increased by roughly 18%, suggesting growing commercial demand despite broader economic uncertainty.

Land values rose by only 4.4%, showing more modest growth compared to built-up commercial assets. These appraisal shifts are directly impacting property tax bills, driving many commercial property owners to file protests in 2024.

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