402 PAUL ST TX 78701
| Owner | ALGONQUIN REALTY LP |
|---|---|
| Parcel ID | 0108030107 |
| Short ID | 106589 |
| Type | Real |
| Use Code | 87 Parking Garage |
| Valuation | Income |
| Improvement SF | — |
| Land SF | 44,692 SF |
| Acres | 1.026 |
| Year Built | — |
| Legal | 1.026AC OF OLT 1 DIVISION Z |
| Neighborhood | 80CEN |
| Land | $11,173,000 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $11,173,000 |
| Improvement | — |
|---|---|
| Total Improvement | — |
| Market | $10,300,000 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $10,300,000 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $10,300,000 |
| Taxable Value | $10,300,000 |
|---|
Appreciation: Market value has risen +48.2% from $6,949,600 (2021) to $10,300,000 (2025), a CAGR of 10.3% over 4 years. This is strong appreciation — well above typical inflation. Growth has been fairly evenly spread across these years rather than concentrated in one jump. 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 $210,788. 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 108% of market value ($11,173,000 land vs $0 improvements), about $250/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 $10,300,000, 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 +10.3% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $16,843,564 by 2030, with an estimated annual tax burden around $312,480. 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.
2 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 187 | PARKING GARAGE | 27,452 SF | ✓ |
| 491 | SPRINKLER HEADS | 27,452 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% | $95,295.60 | $95,295.60 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $53,973.75 | $53,973.75 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $38,712.04 | $38,712.04 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $12,156.37 | $12,156.37 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $10,650.20 | $10,650.20 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $210,787.96 | $210,787.96 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $5,250,000 | $10,300,000 | -49.0% |
| Assessed Value | $5,250,000 | $10,300,000 | -49.0% |
| Land Value | $11,173,000 | $11,173,000 | +0.0% |
| Improvement Value | — | — | — |
| Taxable Value | $5,250,000 | $10,300,000 | -49.0% |
| Total Tax 2026 = estimate |
~$107,440
Estimated
|
~$210,788
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $5,250,000 | $5,250,000 | +0 (+0.0%) |
| Taxable Value | $5,250,000 | $5,250,000 | +0 (+0.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $5,250,000 | $11,173,000 | — | — | $5,250,000 | $5,250,000 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $10,300,000 | $11,173,000 | — | — | $10,300,000 | $10,300,000 | ~$210,788 | Partial |
| 2024 | $8,938,400 | — | — | — | $10,000,000 ! | $— | $198,181 | Verified |
| 2023 | $8,938,400 | — | — | — | $8,938,400 | $— | $161,718 | Verified |
| 2022 | $7,022,363 | — | — | — | $8,938,400 ! | $— | $176,527 | Verified |
| 2021 | $6,949,600 | — | — | −$245,800 | $6,703,800 | $— | $152,854 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -49.0% | -49.0% | ~100% | Not available | Partial |
| 2025 | +3.0% | +3.0% | ~100% | Not available | Partial |
| 2024 | +11.9% | +11.9% | ~100% | 1.9800% | Verified |
| 2023 | +0.0% | +0.0% | ~100% | 1.8100% | Verified |
| 2022 | +27.3% | +27.3% | ~100% | 1.9700% | Verified |
| 2021 | base year | — | ~100% | 2.2000% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +46.7% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -49.0% | -1.1% | +31.6% | +27.3% | 2023 | -49.0% | 2026 |
| Assessment Ratio | 100.0% | 106.0% | — | 127.3% | 2022 | 96.5% | 2021 |
| 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 |
$210,788 | $180,014 | ~$268,750 | $210,788 | 2025 | $152,854 | 2021 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$11,364,663 | ~$11,330,000 | ~2.0139% | ~$228,179 | +10.3% |
| 2027 | ~$12,539,376 | ~$12,463,000 | ~1.9814% | ~$246,940 | +21.7% |
| 2028 | ~$13,835,514 | ~$13,709,300 | ~1.9488% | ~$267,172 | +34.3% |
| 2029 | ~$15,265,627 | ~$15,080,230 | ~1.9163% | ~$288,981 | +48.2% |
| 2030 | ~$16,843,564 | ~$16,588,253 | ~1.8837% | ~$312,480 | +63.5% |
| 2026 | ~$11,158,663 | ~$11,158,663 | ~2.0465% | ~$228,360 | +8.3% |
| 2027 | ~$12,088,910 | ~$12,088,910 | ~2.0465% | ~$247,398 | +17.4% |
| 2028 | ~$13,096,706 | ~$13,096,706 | ~2.0465% | ~$268,022 | +27.2% |
| 2029 | ~$14,188,518 | ~$14,188,518 | ~2.0465% | ~$290,366 | +37.8% |
| 2030 | ~$15,371,349 | ~$15,371,349 | ~2.0465% | ~$314,572 | +49.2% |
| 2026 | ~$11,570,663 | ~$11,330,000 | ~1.9977% | ~$226,335 | +12.3% |
| 2027 | ~$12,998,083 | ~$12,463,000 | ~1.9488% | ~$242,884 | +26.2% |
| 2028 | ~$14,601,596 | ~$13,709,300 | ~1.9000% | ~$260,479 | +41.8% |
| 2029 | ~$16,402,928 | ~$15,080,230 | ~1.8512% | ~$279,164 | +59.3% |
| 2030 | ~$18,426,481 | ~$16,588,253 | ~1.8024% | ~$298,982 | +78.9% |
In 2025, this property's market value of $10,300,000 places it in the top 25% for Commercial properties in Travis County (13608 comparable) — 7× 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 | $10,300,000 | $649,268 | $1,417,484 | $3,347,260 | ↑ Top 25% | -0.8% |
| 2024 | $8,938,400 | $661,016 | $1,438,465 | $3,471,171 | ↑ Top 25% | +0.0% |
| 2023 | $8,938,400 | $667,828 | $1,414,358 | $3,374,900 | ↑ Top 25% | +9.7% |
| 2022 | $7,022,363 | $553,066 | $1,215,730 | $2,939,150 | ↑ Top 25% | +3.3% |
| 2021 | $6,949,600 | $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.