July 16, 2019
The Travis Central Appraisal District (TCAD) acquired the former National Western Life Insurance building for its new headquarters, paying seller Westcap Corp. $8.5 million. The 72,720-square-foot building at 850 E. Anderson Lane is close to twice the size of the appraisal district’s current 34,909-square-foot space at 8314 Cross Park Dr. The new owner is also planning to revise the 1970s-building with a planned capital investment of close to $8 million.
According to local media reports, the TCAD acquired the extra space because of an increase in appraisal protests. Property tax protests increased more than 200% since 2005. The extra space will be used to help with the increase of formal hearings before the Appraisal Review Board (ARB).
Plans are to begin renovations by November 2019, with completion scheduled for May 2020, just in time for the ARB to host hearings for 2020 valuation protests.
Pictured: 850 E. Anderson Lane, Austin
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