705 E 12 ST TX 78701
| Owner | VELOCITY CREDIT UNION |
|---|---|
| Parcel ID | 0208051401 |
| Short ID | 197044 |
| Type | Real |
| Use Code | 58 Bank — Branch Office |
| Valuation | Income |
| Improvement SF | 5,251 SF |
| Land SF | 46,872 SF |
| Acres | 1.076 |
| Year Built | 2020 |
| Legal | LOT 5-8 * PLUS ADJ 1/2 VAC ALLEY BLOCK 141 ORIGINAL CITY (TOTAL SQ FT 46920) |
| Neighborhood | 58CBD |
| Land | $22,850,100 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $22,850,100 |
| Improvement | — |
|---|---|
| Total Improvement | — |
| Market | $14,250,000 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $14,250,000 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $14,250,000 |
| Taxable Value | $14,250,000 |
|---|
Appreciation: Market value has risen +72.5% from $8,261,700 (2021) to $14,250,000 (2025), a CAGR of 14.6% over 4 years. This is strong appreciation — well above typical inflation. Most of this growth came in a single year (2025→2026), 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 outpaced 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 $291,624. 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 160% of market value ($22,850,100 land vs $0 improvements), about $488/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 $14,250,000, 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 +14.6% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $28,167,394 by 2030, with an estimated annual tax burden around $432,315. 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.
3 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 551 | PAVED AREA | 25,000 SF | ✗ |
| 1ST | 1st Floor | 5,251 SF | ✓ |
| 503 | CANOPY - BANK | 2,505 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% | $131,841.00 | $131,841.00 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $74,672.42 | $74,672.42 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $53,557.91 | $53,557.91 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $16,818.28 | $16,818.28 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $14,734.50 | $14,734.50 | Paid |
| P2U | — | — | — | — | — | — | $12,718.75 | $12,718.75 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $304,342.86 | $304,342.86 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $18,350,000 | $14,250,000 | +28.8% |
| Assessed Value | $18,350,000 | $14,250,000 | +28.8% |
| Land Value | $21,092,400 | $22,850,100 | -7.7% |
| Improvement Value | — | — | — |
| Taxable Value | $18,350,000 | $14,250,000 | +28.8% |
| Total Tax 2026 = estimate |
~$375,530
Estimated
|
~$304,343
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $23,265,352 | $18,350,000 | -4,915,352 (-21.1%) |
| Taxable Value | $23,265,352 | $18,350,000 | -4,915,352 (-21.1%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $18,350,000 | $21,092,400 | — | — | $18,350,000 | $18,350,000 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $14,250,000 | $22,850,100 | — | — | $14,250,000 | $14,250,000 | ~$304,343 | Partial |
| 2024 | $14,250,000 | — | — | — | $14,250,000 | $— | $294,861 | Verified |
| 2023 | $11,000,000 | — | — | — | $14,076,000 ! | $— | $271,840 | Verified |
| 2022 | $9,796,432 | — | — | — | $14,000,000 ! | $— | $230,703 | Verified |
| 2021 | $8,261,700 | — | — | −$50,700 | $8,211,000 | $— | $222,533 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +63.3% | +63.3% | ~100% | Not available | Partial |
| 2025 | +0.0% | +0.0% | ~100% | Not available | Partial |
| 2024 | -8.5% | -8.5% | ~100% | 2.0700% | Verified |
| 2023 | +11.2% | +11.2% | ~100% | 1.7500% | Verified |
| 2022 | +42.9% | +42.9% | ~100% | 1.6500% | Verified |
| 2021 | base year | — | ~100% | 2.6900% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +45.5% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +28.8% | +17.8% | +9.5% | +29.5% | 2024 | +0.0% | 2025 |
| Assessment Ratio | 100.0% | 111.7% | — | 142.9% | 2022 | 99.4% | 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 |
$304,343 | $264,856 | ~$371,815 | $304,343 | 2025 | $222,533 | 2021 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$16,330,566 | ~$15,675,000 | ~2.0139% | ~$315,685 | +14.6% |
| 2027 | ~$18,714,903 | ~$17,242,500 | ~1.9814% | ~$341,641 | +31.3% |
| 2028 | ~$21,447,365 | ~$18,966,750 | ~1.9488% | ~$369,632 | +50.5% |
| 2029 | ~$24,578,779 | ~$20,863,425 | ~1.9163% | ~$399,804 | +72.5% |
| 2030 | ~$28,167,394 | ~$22,949,768 | ~1.8837% | ~$432,315 | +97.7% |
| 2026 | ~$16,045,566 | ~$15,675,000 | ~2.0465% | ~$320,787 | +12.6% |
| 2027 | ~$18,067,381 | ~$17,242,500 | ~2.0465% | ~$352,865 | +26.8% |
| 2028 | ~$20,343,954 | ~$18,966,750 | ~2.0465% | ~$388,152 | +42.8% |
| 2029 | ~$22,907,385 | ~$20,863,425 | ~2.0465% | ~$426,967 | +60.8% |
| 2030 | ~$25,793,821 | ~$22,949,768 | ~2.0465% | ~$469,664 | +81.0% |
| 2026 | ~$16,615,566 | ~$15,675,000 | ~1.9977% | ~$313,134 | +16.6% |
| 2027 | ~$19,373,826 | ~$17,242,500 | ~1.9488% | ~$336,029 | +36.0% |
| 2028 | ~$22,589,970 | ~$18,966,750 | ~1.9000% | ~$360,371 | +58.5% |
| 2029 | ~$26,340,009 | ~$20,863,425 | ~1.8512% | ~$386,222 | +84.8% |
| 2030 | ~$30,712,572 | ~$22,949,768 | ~1.8024% | ~$413,640 | +115.5% |
In 2025, this property's market value of $14,250,000 places it in the top 25% for Commercial properties in Travis County (13608 comparable) — 10× 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 | $14,250,000 | $649,268 | $1,417,484 | $3,347,260 | ↑ Top 25% | -0.8% |
| 2024 | $14,250,000 | $661,016 | $1,438,465 | $3,471,171 | ↑ Top 25% | +0.0% |
| 2023 | $11,000,000 | $667,828 | $1,414,358 | $3,374,900 | ↑ Top 25% | +9.7% |
| 2022 | $9,796,432 | $553,066 | $1,215,730 | $2,939,150 | ↑ Top 25% | +3.3% |
| 2021 | $8,261,700 | $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.