515 CONGRESS AVE TX 78701
| Owner | KBSIII 515 CONGRESS LLC |
|---|---|
| Parcel ID | 0206030616 |
| Short ID | 194402 |
| Type | Real |
| Use Code | 50 Office Hi-Rise (≥6 Stories) |
| Valuation | Income |
| Improvement SF | 23,154 SF |
| Land SF | 23,461 SF |
| Acres | 0.539 |
| Year Built | 1974 |
| Legal | LOT 4-6 BLOCK 056 ORIGINAL CITY (TOTAL SQ FT 23461) PLUS VAC ALLEY |
| Neighborhood | 50CBD |
| Land | $24,399,440 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $24,399,440 |
| Improvement | $98,290,711 |
|---|---|
| Total Improvement | $98,290,711 |
| Market | $122,690,151 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $122,690,151 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $122,690,151 |
| Taxable Value | $122,690,151 |
|---|
Appreciation: Market value has fallen -24.6% from $162,661,000 (2021) to $122,690,151 (2025), a CAGR of -6.8% 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 $2,510,836. Austin ISD is the largest single contributor, at 43.3% 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 20% of market value ($24,399,440 land vs $98,290,711 improvements), about $1,040/SF of land. Most value sits in the improvements, so building condition, age (~52 yrs), and rent roll drive the underwriting.
Submarket Position: At $122,690,151, this parcel sits in the top quartile (≥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 -6.8% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $86,241,744 by 2030, with an estimated annual tax burden around $1,624,572. 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.
9 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 491 | SPRINKLER HEADS | 279,618 SF | ✗ |
| ADDL | Additional Floor | 242,216 SF | ✓ |
| 187 | PARKING GARAGE | 149,712 SF | ✓ |
| FBSMT | Finished Basement | 20,958 SF | ✓ |
| LOBBY | Lobby | 14,248 SF | ✓ |
| 1ST | 1st Floor | 2,196 SF | ✓ |
| 335 | PENTHOUSE | 2,010 SF | ✓ |
| 407 | LOADING DOCK | 1,532 SF | ✓ |
| 501 | CANOPY | 240 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% | $1,135,129.28 | $1,135,129.28 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $642,917.25 | $642,917.25 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $461,124.80 | $461,124.80 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $144,802.60 | $144,802.60 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $126,861.62 | $126,861.62 | Paid |
| P2U | — | — | — | — | — | — | $113,025.89 | $113,025.89 | Paid |
| P3J | — | — | — | — | — | — | $500.00 | $500.00 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $2,624,361.44 | $2,624,361.44 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $116,550,451 | $122,690,151 | -5.0% |
| Assessed Value | $116,550,451 | $122,690,151 | -5.0% |
| Land Value | $28,153,200 | $24,399,440 | +15.4% |
| Improvement Value | $88,397,251 | $98,290,711 | -10.1% |
| Taxable Value | $116,550,451 | $122,690,151 | -5.0% |
| Total Tax 2026 = estimate |
~$2,385,188
Estimated
|
~$2,624,361
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $116,550,451 | $116,550,451 | +0 (+0.0%) |
| Taxable Value | $116,550,451 | $116,550,451 | +0 (+0.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $116,550,451 | $28,153,200 | $88,397,251 | — | $116,550,451 | $116,550,451 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $122,690,151 | $24,399,440 | $98,290,711 | — | $122,690,151 | $122,690,151 | ~$2,624,361 | Partial |
| 2024 | $156,939,036 | — | — | −$132,539,596 | $24,399,440 | $— | $2,695,408 | Verified |
| 2023 | $162,752,285 | — | — | −$146,740,152 | $16,012,133 | $— | $2,984,621 | Verified |
| 2022 | $163,300,000 | — | — | −$147,287,867 | $16,012,133 | $— | $3,124,971 | Verified |
| 2021 | $162,661,000 | — | — | −$146,648,867 | $16,012,133 | $— | $3,389,863 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -5.0% | -5.0% | ~100% | Not available | Partial |
| 2025 | -5.6% | -5.6% | ~100% | Not available | Partial |
| 2024 | -17.2% | -17.2% | ~100% | 2.0700% | Verified |
| 2023 | -3.6% | -3.6% | ~100% | 1.9000% | Verified |
| 2022 | -0.3% | -0.3% | ~100% | 1.9200% | Verified |
| 2021 | base year | — | ~100% | 2.0800% | Verified |
| Cumulative market value growth (earliest valid year → 2025): -24.9% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -5.0% | -6.1% | -5.8% | +0.4% | 2022 | -21.8% | 2025 |
| Assessment Ratio | 100.0% | 40.8% | — | 100.0% | 2025 | 9.8% | 2021 |
| Effective Tax Rate (2025) | 2.1400% | 2.1400% | — | 2.1400% | 2025 | 2.1400% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$2,624,361 | $2,963,845 | ~$1,949,423 | $3,389,863 | 2021 | $2,624,361 | 2025 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$114,338,178 | ~$114,338,178 | ~2.0139% | ~$2,302,698 | -6.8% |
| 2027 | ~$106,554,754 | ~$106,554,754 | ~1.9814% | ~$2,111,263 | -13.2% |
| 2028 | ~$99,301,177 | ~$99,301,177 | ~1.9488% | ~$1,935,221 | -19.1% |
| 2029 | ~$92,541,378 | ~$92,541,378 | ~1.9163% | ~$1,773,362 | -24.6% |
| 2030 | ~$86,241,744 | ~$86,241,744 | ~1.8837% | ~$1,624,572 | -29.7% |
| 2026 | ~$116,555,643 | ~$116,555,643 | ~2.0465% | ~$2,385,294 | -5.0% |
| 2027 | ~$110,727,861 | ~$110,727,861 | ~2.0465% | ~$2,266,029 | -9.8% |
| 2028 | ~$105,191,468 | ~$105,191,468 | ~2.0465% | ~$2,152,728 | -14.3% |
| 2029 | ~$99,931,895 | ~$99,931,895 | ~2.0465% | ~$2,045,091 | -18.5% |
| 2030 | ~$94,935,300 | ~$94,935,300 | ~2.0465% | ~$1,942,837 | -22.6% |
| 2026 | ~$116,791,981 | ~$116,791,981 | ~1.9977% | ~$2,333,109 | -4.8% |
| 2027 | ~$111,177,358 | ~$111,177,358 | ~1.9488% | ~$2,166,668 | -9.4% |
| 2028 | ~$105,832,650 | ~$105,832,650 | ~1.9000% | ~$2,010,838 | -13.7% |
| 2029 | ~$100,744,882 | ~$100,744,882 | ~1.8512% | ~$1,864,983 | -17.9% |
| 2030 | ~$95,901,703 | ~$95,901,703 | ~1.8024% | ~$1,728,505 | -21.8% |
In 2025, this property's market value of $122,690,151 places it in the top 25% for Commercial properties in Travis County (13608 comparable) — 87× 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 | $122,690,151 | $649,268 | $1,417,484 | $3,347,260 | ↑ Top 25% | -0.8% |
| 2024 | $156,939,036 | $661,016 | $1,438,465 | $3,471,171 | ↑ Top 25% | +0.0% |
| 2023 | $162,752,285 | $667,828 | $1,414,358 | $3,374,900 | ↑ Top 25% | +9.7% |
| 2022 | $163,300,000 | $553,066 | $1,215,730 | $2,939,150 | ↑ Top 25% | +3.3% |
| 2021 | $162,661,000 | $517,750 | $1,142,600 | $2,780,453 | ↑ 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.