Commercial Assessed Valuation
Strong Local Economy
Status Indicators: Proceeding as Anticipated | Monitoring Progress | Reviewing for Improvement | Information Unavailable
Proceeding as Anticipated
Reviewing for Improvement
Please note that Q1, Q2, Q3, and Q4 refer to the first, second, third, and fourth quarters of the Fiscal Year. The City’s Fiscal Year runs from October 1st – September 30th and is denoted by FY.
The data for this measure reflects an FY 2017 commercial assessed valuation of $4,390,236,594 after exemptions. The City's valuation mix is well-balanced with 36% of the total valuation in commercial property. The ability of the City to maintain a good balance between residential and commercial valuation helps reduce the property tax burden for residents.
It is important to note that the anticipated impact on this measure following the annexation of Greatwood and New Territory is a decline in commercial assessed valuation as a percentage of the City's tax roll. This decline is due to the fact that both Greatwood and New Territory have high residential land use of more than 90% of their existing tax roll.
The City of Sugar Land’s commercial property tax revenue, percentage change, and assessed valuation of commercial property as a percentage of the tax roll as reported annually by the Fort Bend County Central Appraisal District.
The target is based on a historical three-year trailing average of commercial property tax revenue prior to rebate distribution as a percent of total property tax revenue collected between residential and commercial entities. Historically, commercial property tax revenue makes up an average of 35% of the City’s property tax revenue.
The target for this goal measure focuses on the property tax revenue collected as a percentage of total property tax revenue.
The commercial value of the City showcases the desirability of commercial real estate and the health of local businesses.