Commercial Assessed Valuation
Strong Local Economy
Status Indicators: Proceeding as Anticipated | Monitoring Progress | Reviewing for Improvement | Information Unavailable
Status Indicators:
Proceeding as Anticipated
Monitoring Progress
Reviewing for Improvement
Information Unavailable
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. CY denotes Calendar Year.
This measure exceeded the 30% target by 1.5% due to an increase in the homestead exemption in an effort to rebalance the taxable value between residential and commercial properties. The City's valuation mix is well-balanced with 31.5% 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. The City's strategic use of the homestead exemption in the FY 2020 budget has resulted in a rebalancing of the tax burden, as the FY 2019 results will show that the Commercial Assessed Value is 31.5% for the 2019 Tax Year. Since the total valuation in commercial property exceeded its target, the measure has been evaluated as green.
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.
With the increase to homestead exemption in 2019 and results from 2018, the target was adjusted to 30%.
The commercial value of the City showcases the desirability of commercial real estate and the health of local businesses.
Contact Information
City of Sugar Land
2700 Town Center Blvd. North
Sugar Land, TX 77479
Office of Strategic Initiatives
Contact (281) 275-2198
www.sugarlandtx.gov
[email protected]