Harris County’s property tax base is massive, growing steadily, and depends heavily on home owners. The total market value of Harris County property has grown from $379 billion to $687 billion from 2013 to 2021 (most recent year for which data is available). The total increase in Harris County property, based on property tax assessments from Harris Central Appraisal District increased by $308 billion, including $144 billion for single family, $32 billion for multifamily (aka apartments), $58 billion for commercial, and $74 billion for “other”.
The allocation of residential versus commercial has remained steady at ~45% residential and 55% apartments / commercial / other. Other includes property types classified as land, industrial, agricultural, and business personal property. Multi-family (aka apartments) increased from 6% to 8% of total Harris County assessed value. While the increase from 6 to 8% seems small, apartment owners have seen regular increases of 15 to 30% annually before property tax protests.
The growth rate has been similar over the 8-year period from 2013 to 2021. Values skyrocketed in 2014 and 2015 and grew more gradually during 2016 to 2021. Single family assessed values grew more quickly in some years and commercial / other in other years.
The allocation of state-wide tax rolls shifted to weigh more heavily on houses during 2013 to 2021; from 41% in 2013 to 44% in 2021.
The value of taxable property per capita increased sharply during 2013 to 2021. The total value of Harris County property per Harris Central Appraisal District rose from $87.1 billion per million people to $145.1 billion per 1 million, during 2013 to 2021. This is a 67% increase over 8 years or 8.3% per year.
The per capita value of the total tax roll for all 246 Texas counties was similar to Harris County per capita value. Comparing the per capita tax roll values, they are similar for single family, Harris County is 25% higher for apartments, 20% higher for commercial and 35% lower for “other”, which includes land, industrial, oil and gas, and business personal property.
Harris Central Appraisal District’s value estimates grew by 67% while Harris County population grew by 9% during 2013 to 2021.
The tax roll growth across all 246 Texas counties was 71% during 2013 to 2021 while the population grew by 13%. The value of taxable property is growing much faster than population in both Harris County and Texas overall.