2302 HANCOCK DR 5 TX 78756
| Owner | SOMERVILLE SUSAN D |
|---|---|
| Parcel ID | 0227030593 |
| Short ID | 227711 |
| Type | Real |
| Use Code | 23 Small Office Condo |
| Valuation | Income |
| Improvement SF | 836 SF |
| Land SF | 11,039 SF |
| Acres | 0.253 |
| Year Built | 1970 |
| Legal | UNT 5&6 BLD A PLAZA DE ORO CONDOMINIUMS PLUS 33.33% INT IN COMMON AREA |
| Neighborhood | 23NC02 |
| Land | $496,755 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $496,755 |
| Improvement | $310,650 |
|---|---|
| Total Improvement | $310,650 |
| Market | $807,405 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $807,405 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $807,405 |
| Taxable Value | $807,405 |
|---|
Appreciation: Market value has risen +21.4% from $665,025 (2021) to $807,405 (2025), a CAGR of 5.0% over 4 years. This represents moderate, steady growth. Most of this growth came in a single year (2021→2022), 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 $16,523. 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 62% of market value ($496,755 land vs $310,650 improvements), about $45/SF of land. Land and improvements both carry meaningful weight; value is balanced between the structure and its site.
Submarket Position: At $807,405, this parcel sits in the lower-middle (25th–50th 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 +5.0% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $1,028,983 by 2030, with an estimated annual tax burden around $19,383. 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.
1 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 1ST | 1st Floor | 836 SF | ✓ |
| Unit (prop_id) | Owner | Address | Market Value | Assessed Value | Taxable Value |
|---|---|---|---|---|---|
| 227711 | SOMERVILLE SUSAN D | 2302 HANCOCK DR 1 78756 | $538,300 | $538,300 | $538,300 |
| 227715 | SOMERVILLE SUSAN D | 2302 HANCOCK DR 5 78756 | $269,105 | $269,105 | $269,105 |
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% | $7,470.11 | $7,470.11 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $4,230.94 | $4,230.94 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $3,034.59 | $3,034.59 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $952.93 | $952.93 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $834.85 | $834.85 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $16,523.42 | $16,523.42 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $807,405 | $807,405 | +0.0% |
| Assessed Value | $807,405 | $807,405 | +0.0% |
| Land Value | $496,755 | $496,755 | +0.0% |
| Improvement Value | $310,650 | $310,650 | +0.0% |
| Taxable Value | $807,405 | $807,405 | +0.0% |
| Total Tax 2026 = estimate |
~$16,523
Estimated
|
~$16,523
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $924,105 | $807,405 | -116,700 (-12.6%) |
| Taxable Value | $924,105 | $807,405 | -116,700 (-12.6%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $807,405 | $496,755 | $310,650 | — | $807,405 | $807,405 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $807,405 | $496,755 | $310,650 | — | $807,405 | $807,405 | ~$16,523 | Partial |
| 2024 | $861,461 | — | — | −$364,706 | $496,755 | $— | $16,978 | Verified |
| 2023 | $789,745 | — | — | −$292,990 | $496,755 | $— | $15,586 | Verified |
| 2022 | $832,939 | — | — | −$336,184 | $496,755 | $— | $15,597 | Verified |
| 2021 | $665,025 | — | — | −$168,270 | $496,755 | $— | $18,130 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +14.5% | +14.5% | ~100% | Not available | Partial |
| 2025 | -5.8% | -5.8% | ~100% | Not available | Partial |
| 2024 | -3.7% | -3.7% | ~100% | 1.9800% | Verified |
| 2023 | +12.5% | +12.5% | ~100% | 1.8100% | Verified |
| 2022 | -51.2% | -51.2% | ~100% | 1.9700% | Verified |
| 2021 | base year | — | ~100% | 2.7300% | Verified |
| Cumulative market value growth (earliest valid year → 2025): -50.2% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +0.0% | +4.6% | +5.0% | +25.2% | 2022 | -6.3% | 2025 |
| Assessment Ratio | 100.0% | 75.8% | — | 100.0% | 2025 | 57.7% | 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 |
$16,523 | $16,563 | ~$18,213 | $18,130 | 2021 | $15,586 | 2023 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$847,529 | ~$847,529 | ~2.0139% | ~$17,069 | +5.0% |
| 2027 | ~$889,648 | ~$889,648 | ~1.9814% | ~$17,627 | +10.2% |
| 2028 | ~$933,859 | ~$933,859 | ~1.9488% | ~$18,199 | +15.7% |
| 2029 | ~$980,268 | ~$980,268 | ~1.9163% | ~$18,785 | +21.4% |
| 2030 | ~$1,028,983 | ~$1,028,983 | ~1.8837% | ~$19,383 | +27.4% |
| 2026 | ~$831,381 | ~$831,381 | ~2.0465% | ~$17,014 | +3.0% |
| 2027 | ~$856,070 | ~$856,070 | ~2.0465% | ~$17,519 | +6.0% |
| 2028 | ~$881,491 | ~$881,491 | ~2.0465% | ~$18,040 | +9.2% |
| 2029 | ~$907,668 | ~$907,668 | ~2.0465% | ~$18,575 | +12.4% |
| 2030 | ~$934,621 | ~$934,621 | ~2.0465% | ~$19,127 | +15.8% |
| 2026 | ~$863,678 | ~$863,678 | ~1.9977% | ~$17,253 | +7.0% |
| 2027 | ~$923,872 | ~$923,872 | ~1.9488% | ~$18,005 | +14.4% |
| 2028 | ~$988,262 | ~$988,262 | ~1.9000% | ~$18,777 | +22.4% |
| 2029 | ~$1,057,139 | ~$1,057,139 | ~1.8512% | ~$19,570 | +30.9% |
| 2030 | ~$1,130,817 | ~$1,130,817 | ~1.8024% | ~$20,382 | +40.1% |
In 2025, this property's market value of $807,405 places it in the 25th–50th percentile for Commercial properties in Travis County (13608 comparable) — -43% below 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 | $807,405 | $649,268 | $1,417,484 | $3,347,260 | ↓ Below median | -0.8% |
| 2024 | $861,461 | $661,016 | $1,438,465 | $3,471,171 | ↓ Below median | +0.0% |
| 2023 | $789,745 | $667,828 | $1,414,358 | $3,374,900 | ↓ Below median | +9.7% |
| 2022 | $832,939 | $553,066 | $1,215,730 | $2,939,150 | ↓ Below median | +3.3% |
| 2021 | $665,025 | $517,750 | $1,142,600 | $2,780,453 | ↓ Below 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.