2602 PATRIOT DR TX 78645
| Owner | KARR GEORGE |
|---|---|
| Parcel ID | 0166901715 |
| Short ID | 170646 |
| Type | Real |
| Use Code | C1 Vacant Lot |
| Valuation | Cost |
| Improvement SF | — |
| Land SF | 96,708 SF |
| Acres | 2.220 |
| Year Built | — |
| Legal | LOT 24049 HIGHLAND LAKE ESTATES SEC 24 |
| Neighborhood | S08WF |
| Land | $1,053,000 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $1,053,000 |
| Improvement | — |
|---|---|
| Total Improvement | — |
| Market | $1,053,000 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $1,053,000 |
| Value Limitation Adjustment (−) (homestead cap) | −$283,176 |
| Net Appraised (assessed) | $769,824 |
| Taxable Value | $769,824 |
|---|
Appreciation: Market value has risen +400.0% from $210,600 (2021) to $1,053,000 (2025), a CAGR of 49.5% over 4 years. This is strong appreciation — well above typical inflation. Most of this growth came in a single year (2021→2025), not a steady climb — worth checking what drove that reappraisal rather than assuming a smooth trend. Over the same span, the median Land/Vacant parcel countywide rose +487.2%, so this parcel has lagged the broader land/vacant market over the same period.
Tax Burden: The combined rate across 6 taxing entities is 2.1307% in 2025 (+0.0473% vs 2024 — rates increased ). At the current taxable value, estimated annual taxes are $16,403. Lago Vista ISD is the largest single contributor, at 47.7% of the total 2025 levy.
Assessment Gap: Assessed value ($769,824) is $283,176 below market value, suggesting potential for an upward assessment in future years.
Asset Class: Land / Vacant. This is valued using the cost approach, tied more to replacement cost and physical condition than to income performance.
Value Composition: Land carries 100% of market value ($1,053,000 land vs $0 improvements), about $11/SF of land. With value concentrated in the land, this reads as a land-dominated asset — the classic higher-and-best-use / redevelopment signal. Underwrite the dirt, not the building.
Submarket Position: At $1,053,000, this parcel sits in the top quartile (≥75th percentile) of Land/Vacant property in Travis County — county median $85,028 (P25 $24,862 / P75 $363,420, n=35,611). Land/Vacant here is the broad TCAD category — every land/vacant 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 +49.5% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $7,873,011 by 2030, with an estimated annual tax burden around $133,560. 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.
Market value changed by 116% in 2022, flagged as unusually large. Verify against comparable sales before using this value in underwriting.
| Entity | 2021 Rate | 2022 Rate | 2023 Rate | 2024 Rate | 2025 Rate | YoY (2024→25) | Amt Due | Amt Paid | Balance |
|---|---|---|---|---|---|---|---|---|---|
| ILV Lago Vista ISD | 1.2020% | 1.1846% | 1.0192% | 1.0169% | 1.0169% | +0.0000% | $7,828.34 | $7,828.34 | Paid |
| CLV City of Lago Vista | 0.6070% | 0.4283% | 0.4139% | 0.4231% | 0.4200% | -0.0031% | $3,233.26 | $3,233.26 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $2,893.35 | $2,893.35 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $908.57 | $908.57 | Paid |
| E01 Travis County ESD # 01 | 0.1000% | 0.1000% | 0.1000% | 0.1000% | 0.1000% | +0.0000% | $769.82 | $769.82 | Paid |
| E07 Travis County ESD # 07 | 0.1000% | 0.0784% | 0.0842% | 0.0910% | 0.1000% | +0.0090% | $769.57 | $769.57 | Paid |
| Combined Rate | 2.4782% | 2.2082% | 2.0226% | 2.0834% | 2.1307% | +0.0473% | $16,402.91 | $16,402.91 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $775,000 | $1,053,000 | -26.4% |
| Assessed Value | $775,000 | $769,824 | +0.7% |
| Land Value | $911,250 | $1,053,000 | -13.5% |
| Improvement Value | — | — | — |
| Taxable Value | $775,000 | $769,824 | +0.7% |
| Total Tax 2026 = estimate |
~$16,513
Estimated
|
~$16,403
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $911,250 | $775,000 | -136,250 (-15.0%) |
| Taxable Value | $911,250 | $775,000 | -136,250 (-15.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $775,000 | $911,250 | — | — | $775,000 | $775,000 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $1,053,000 | $1,053,000 | — | −$283,176 | $769,824 | $769,824 | ~$16,403 | Partial |
| 2024 | $— | — | — | — | $1,053,000 | $— | $13,366 | Verified |
| 2023 | $— | — | — | — | $534,600 | $— | $10,813 | Verified |
| 2022 | $— | — | — | — | $455,640 | $— | $10,062 | Verified |
| 2021 | $210,600 | — | — | — | $210,600 | $— | $5,219 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -13.5% | +18.4% | ~100% | Not available | Partial |
| 2025 | +0.0% | +20.0% | 73.1% | Not available | Partial |
| 2024 | +97.0% ! | +20.0% | 60.9% | 1.2700% | Verified |
| 2023 | +17.3% | +17.3% | ~100% | 2.0200% | Verified |
| 2022 | +116.4% ! | +116.4% | ~100% | 2.2100% | Verified |
| 2021 | base year | — | ~100% | 2.4800% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +400.0% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -26.4% | +186.8% | +60.3% | +400.0% | 2025 | -26.4% | 2026 |
| Assessment Ratio | 100.0% | 91.0% | — | 100.0% | 2021 | 73.1% | 2025 |
| Effective Tax Rate (2025) | 1.5600% | 1.5600% | — | 1.5600% | 2025 | 1.5600% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$16,403 | $10,811 | ~$74,312 | $16,403 | 2025 | $5,219 | 2021 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$1,574,602 | ~$1,574,602 | ~2.0439% | ~$32,183 | +49.5% |
| 2027 | ~$2,354,580 | ~$2,354,580 | ~1.9570% | ~$46,079 | +123.6% |
| 2028 | ~$3,520,918 | ~$3,520,918 | ~1.8702% | ~$65,847 | +234.4% |
| 2029 | ~$5,265,000 | ~$5,265,000 | ~1.7833% | ~$93,890 | +400.0% |
| 2030 | ~$7,873,011 | ~$7,873,011 | ~1.6964% | ~$133,560 | +647.7% |
| 2026 | ~$1,553,542 | ~$1,553,542 | ~2.1307% | ~$33,102 | +47.5% |
| 2027 | ~$2,292,017 | ~$2,292,017 | ~2.1307% | ~$48,837 | +117.7% |
| 2028 | ~$3,381,524 | ~$3,381,524 | ~2.1307% | ~$72,051 | +221.1% |
| 2029 | ~$4,988,927 | ~$4,988,927 | ~2.1307% | ~$106,301 | +373.8% |
| 2030 | ~$7,360,408 | ~$7,360,408 | ~2.1307% | ~$156,831 | +599.0% |
| 2026 | ~$1,595,662 | ~$1,595,662 | ~2.0004% | ~$31,920 | +51.5% |
| 2027 | ~$2,417,985 | ~$2,417,985 | ~1.8702% | ~$45,220 | +129.6% |
| 2028 | ~$3,664,090 | ~$3,664,090 | ~1.7399% | ~$63,750 | +248.0% |
| 2029 | ~$5,552,375 | ~$5,552,375 | ~1.6096% | ~$89,369 | +427.3% |
| 2030 | ~$8,413,785 | ~$8,413,785 | ~1.4793% | ~$124,463 | +699.0% |
In 2025, this property's market value of $1,053,000 places it in the top 25% for Land/Vacant properties in Travis County (35611 comparable) — 12× the county median of $85,028. Land/Vacant here is the broad TCAD category — every land/vacant 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 | $1,053,000 | $24,862 | $85,028 | $363,420 | ↑ Top 25% | +2.1% |
| 2024 | — | $23,000 | $66,000 | $330,000 | — | +0.0% |
| 2023 | — | $25,000 | $71,500 | $271,439 | — | +0.0% |
| 2022 | — | $15,000 | $55,000 | $180,463 | — | +100.0% |
| 2021 | $210,600 | $6,000 | $14,480 | $80,000 | ↑ Top 25% | 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.