2825 HANCOCK DR TX 78731
| Owner | LANTERN LANE CENTER LTD |
|---|---|
| Parcel ID | 0128000930 |
| Short ID | 124367 |
| Type | Real |
| Use Code | 43 Strip Center (>10,000 SF) |
| Valuation | Income |
| Improvement SF | 19,707 SF |
| Land SF | 64,033 SF |
| Acres | 1.470 |
| Year Built | 1967 |
| Legal | ABS 313 SUR 8 GILBERT D J ACR 1.47 |
| Neighborhood | 43CEN |
| Land | $1,792,924 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $1,792,924 |
| Improvement | $251,697 |
|---|---|
| Total Improvement | $251,697 |
| Market | $2,044,621 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $2,044,621 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $2,044,621 |
| Taxable Value | $2,044,621 |
|---|
Appreciation: Market value has fallen -1.0% from $2,065,900 (2021) to $2,044,621 (2025), a CAGR of -0.3% over 4 years. Growth has been relatively flat for this asset class. Most of this growth came in a single year (2024→2025), not a steady climb — worth checking what drove that reappraisal rather than assuming a smooth trend. Over the same span, the median Commercial parcel countywide rose +24.1%, so this parcel has lagged the broader commercial market over the same period.
Tax Burden: The combined rate across 5 taxing entities is 2.0465% in 2025 (+0.0647% vs 2024 — rates increased ). At the current taxable value, estimated annual taxes are $41,843. Austin ISD is the largest single contributor, at 45.2% of the total 2025 levy.
Asset Class: Commercial. No homestead exemptions apply — full market value is taxable. This is valued using the income approach, so changes in rent roll or occupancy move the appraisal more directly than they would for a cost-approach property.
Value Composition: Land carries 88% of market value ($1,792,924 land vs $251,697 improvements), about $28/SF of land. With value concentrated in the land under a ~59-year-old structure, this reads as a land-dominated asset — the classic higher-and-best-use / redevelopment signal. Underwrite the dirt, not the building.
Submarket Position: At $2,044,621, this parcel sits in the upper-middle (50th–75th percentile) of Commercial property in Travis County — county median $1,417,484 (P25 $649,268 / P75 $3,347,260, n=13,608). Commercial here is the broad TCAD category — every commercial property countywide, any size or use — not a use-code-specific peer group. See the Peer Set and the Where This Property Stands benchmark below, which narrows to this property's actual use code, for parcel-level comparables.
Forward Outlook: Holding the -0.3% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $2,018,330 by 2030, with an estimated annual tax burden around $38,020. Estimated Forward figures are model projections, not certified — see the 6-Year Projection section for the low/base/high bands.
No delinquent taxes on record.
4 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 551 | PAVED AREA | 42,768 SF | ✗ |
| 1ST | 1st Floor | 15,739 SF | ✓ |
| 2ND | 2nd Floor | 3,968 SF | ✓ |
| 501 | CANOPY | 3,820 SF | ✗ |
No large value jumps, delinquencies, or data anomalies found for this parcel.
| Entity | 2021 Rate | 2022 Rate | 2023 Rate | 2024 Rate | 2025 Rate | YoY (2024→25) | Amt Due | Amt Paid | Balance |
|---|---|---|---|---|---|---|---|---|---|
| IAU Austin ISD | 1.0617% | 0.9966% | 0.8595% | 0.9505% | 0.9252% | -0.0253% | $18,916.83 | $18,916.83 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $10,714.16 | $10,714.16 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $7,684.61 | $7,684.61 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $2,413.12 | $2,413.12 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $2,114.14 | $2,114.14 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $41,842.86 | $41,842.86 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $2,044,621 | $2,044,621 | +0.0% |
| Assessed Value | $2,044,621 | $2,044,621 | +0.0% |
| Land Value | $1,792,924 | $1,792,924 | +0.0% |
| Improvement Value | $251,697 | $251,697 | +0.0% |
| Taxable Value | $2,044,621 | $2,044,621 | +0.0% |
| Total Tax 2026 = estimate |
~$41,843
Estimated
|
~$41,843
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $2,044,621 | $2,044,621 | +0 (+0.0%) |
| Taxable Value | $2,044,621 | $2,044,621 | +0 (+0.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $2,044,621 | $1,792,924 | $251,697 | — | $2,044,621 | $2,044,621 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $2,044,621 | $1,792,924 | $251,697 | — | $2,044,621 | $2,044,621 | ~$41,843 | Partial |
| 2024 | $2,185,724 | — | — | −$392,800 | $1,792,924 | $— | $40,544 | Verified |
| 2023 | $2,166,185 | — | — | −$373,261 | $1,792,924 | $— | $39,545 | Verified |
| 2022 | $2,166,185 | — | — | −$373,261 | $1,792,924 | $— | $42,780 | Verified |
| 2021 | $2,065,900 | — | — | −$272,976 | $1,792,924 | $— | $47,151 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +0.0% | +0.0% | ~100% | Not available | Partial |
| 2025 | -0.1% | -0.1% | ~100% | Not available | Partial |
| 2024 | -6.4% | -6.4% | ~100% | 1.9800% | Verified |
| 2023 | +0.9% | +0.9% | ~100% | 1.8100% | Verified |
| 2022 | +0.0% | +0.0% | ~100% | 1.9700% | Verified |
| 2021 | base year | — | ~100% | 2.2800% | Verified |
| Cumulative market value growth (earliest valid year → 2025): -5.6% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +0.0% | -0.1% | -0.3% | +4.9% | 2022 | -6.5% | 2025 |
| Assessment Ratio | 100.0% | 89.1% | — | 100.0% | 2025 | 82.0% | 2024 |
| Effective Tax Rate (2025) | 2.0500% | 2.0500% | — | 2.0500% | 2025 | 2.0500% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$41,843 | $42,373 | ~$39,542 | $47,151 | 2021 | $39,545 | 2023 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$2,039,336 | ~$2,039,336 | ~2.0139% | ~$41,071 | -0.3% |
| 2027 | ~$2,034,064 | ~$2,034,064 | ~1.9814% | ~$40,303 | -0.5% |
| 2028 | ~$2,028,806 | ~$2,028,806 | ~1.9488% | ~$39,538 | -0.8% |
| 2029 | ~$2,023,561 | ~$2,023,561 | ~1.9163% | ~$38,777 | -1.0% |
| 2030 | ~$2,018,330 | ~$2,018,330 | ~1.8837% | ~$38,020 | -1.3% |
| 2026 | ~$1,998,443 | ~$1,998,443 | ~2.0465% | ~$40,898 | -2.3% |
| 2027 | ~$1,953,308 | ~$1,953,308 | ~2.0465% | ~$39,974 | -4.5% |
| 2028 | ~$1,909,193 | ~$1,909,193 | ~2.0465% | ~$39,071 | -6.6% |
| 2029 | ~$1,866,074 | ~$1,866,074 | ~2.0465% | ~$38,189 | -8.7% |
| 2030 | ~$1,823,928 | ~$1,823,928 | ~2.0465% | ~$37,326 | -10.8% |
| 2026 | ~$2,080,228 | ~$2,080,228 | ~1.9977% | ~$41,556 | +1.7% |
| 2027 | ~$2,116,455 | ~$2,116,455 | ~1.9488% | ~$41,246 | +3.5% |
| 2028 | ~$2,153,313 | ~$2,153,313 | ~1.9000% | ~$40,913 | +5.3% |
| 2029 | ~$2,190,813 | ~$2,190,813 | ~1.8512% | ~$40,556 | +7.2% |
| 2030 | ~$2,228,966 | ~$2,228,966 | ~1.8024% | ~$40,174 | +9.0% |
In 2025, this property's market value of $2,044,621 places it in the 50th–75th percentile for Commercial properties in Travis County (13608 comparable) — +44% above the county median of $1,417,484. Commercial here is the broad TCAD category — every commercial property countywide, any size or use — not a use-code-specific peer group. Use the Use Code filter above to narrow to this property's actual type.
| Year | This Property | Bottom 25% | Median | Top 25% | Position | Group YoY |
|---|---|---|---|---|---|---|
| 2025 | $2,044,621 | $649,268 | $1,417,484 | $3,347,260 | ↑ Above median | -0.8% |
| 2024 | $2,185,724 | $661,016 | $1,438,465 | $3,471,171 | ↑ Above median | +0.0% |
| 2023 | $2,166,185 | $667,828 | $1,414,358 | $3,374,900 | ↑ Above median | +9.7% |
| 2022 | $2,166,185 | $553,066 | $1,215,730 | $2,939,150 | ↑ Above median | +3.3% |
| 2021 | $2,065,900 | $517,750 | $1,142,600 | $2,780,453 | ↑ Above median | base yr |
Estimate only. The appraisal district sets value as of Jan 1 (not at sale price). A sale is strong evidence of market value and is typically reflected in the next Jan 1 valuation. Taxing units set rates annually. Modeled from government data — not a legal or tax opinion.