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Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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Property values increase by double digits

Across Bexar County many property owners are finding their land is more valuable this year as the notifications for the latest property appraisals are being sent out.

The total value for commercial properties across the city is up nearly 11 percent in 2017 compared to 2016, according to the Bexar County Appraisal District. The value of all commercial property across Bexar County during 2017 was $36.6 billion, up from $33.1 billion in 2016. About $1.1 billion in new commercial construction was added to the market over the past year.

The appraised value of multi-family properties increased the most. Between 2016 and 2017, the total value of multi-family properties across Bexar County increased nearly 18 percent.

There is about $15.1 billion of assessed value from multi-family properties in Bexar County during 2017, up from $12.8 billion in 2016. Roughly $729 million of new construction in multi-family units was added to the market during that timeframe.

But those numbers may change, because property owners are allowed to appeal appraisals handed down by the Bexar County Appraisal District. Those cases may not be settled until the summer, according to the agency.

Click here to read the original article: Property values increase by double digits San Antonio Business Journal 05-08-2017

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