1517 PALMA PLAZA TX 78703
| Owner | TRIPLE PLAY PROPERTIES LTD |
|---|---|
| Parcel ID | 0110010516 |
| Short ID | 109020 |
| Type | Real |
| Use Code | 05 Apartment 5–25 Units |
| Valuation | Income |
| Improvement SF | 16,700 SF |
| Land SF | 26,470 SF |
| Acres | 0.608 |
| Year Built | 1972 |
| Legal | LOT 59-62 OLT 7-8 DIV Z ENFIELD B |
| Neighborhood | 05CEN |
| Land | $3,970,500 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $3,970,500 |
| Improvement | $769,500 |
|---|---|
| Total Improvement | $769,500 |
| Market | $4,740,000 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $4,740,000 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $4,740,000 |
| Taxable Value | $4,740,000 |
|---|
Appreciation: Market value has risen +29.0% from $3,674,000 (2021) to $4,740,000 (2025), a CAGR of 6.6% over 4 years. This represents moderate, steady growth. 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 Multi-Family parcel countywide rose +37.9%, so this parcel has lagged the broader multi-family 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 $97,003. Austin ISD is the largest single contributor, at 45.2% of the total 2025 levy.
Asset Class: Multi-family residential. 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 84% of market value ($3,970,500 land vs $769,500 improvements), about $150/SF of land. With value concentrated in the land under a ~54-year-old structure, this reads as a land-dominated asset — the classic higher-and-best-use / redevelopment signal. Underwrite the dirt, not the building.
Submarket Position: At $4,740,000, this parcel sits in the top quartile (≥75th percentile) of Multi-Family property in Travis County — county median $519,778 (P25 $438,669 / P75 $749,859, n=12,584). Multi-Family here is the broad TCAD category — every multi-family 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 +6.6% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $6,517,444 by 2030, with an estimated annual tax burden around $122,772. 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.
13 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 551 | PAVED AREA | 10,300 SF | ✗ |
| 1ST | 1st Floor | 8,398 SF | ✓ |
| 2ND | 2nd Floor | 8,302 SF | ✓ |
| 591 | MASONRY TRIM SF | 5,050 SF | ✗ |
| 012C | PORCH OPEN 2 COMM | 906 SF | ✗ |
| 011C | PORCH OPEN 1ST COMM | 702 SF | ✗ |
| 601 | POOL COMM'L | 312 SF | ✗ |
| 581C | STORAGE ATT COMM | 108 SF | ✓ |
| 132 | PLBG 5-FIXT AVG | 1 SF | ✓ |
| 162 | LAVATORY AVG | 1 SF | ✓ |
| 269 | OBS RANGE DRP-IN | 1 SF | ✓ |
| 413 | STAIRWAY EXT | 1 SF | ✓ |
| 531 | OBS FENCE | 1 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% | $43,854.48 | $43,854.48 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $24,838.41 | $24,838.41 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $17,815.05 | $17,815.05 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $5,594.29 | $5,594.29 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $4,901.16 | $4,901.16 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $97,003.39 | $97,003.39 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $4,580,000 | $4,740,000 | -3.4% |
| Assessed Value | $4,580,000 | $4,740,000 | -3.4% |
| Land Value | $3,970,500 | $3,970,500 | +0.0% |
| Improvement Value | $609,500 | $769,500 | -20.8% |
| Taxable Value | $4,580,000 | $4,740,000 | -3.4% |
| Total Tax 2026 = estimate |
~$93,729
Estimated
|
~$97,003
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $4,580,000 | $4,580,000 | +0 (+0.0%) |
| Taxable Value | $4,580,000 | $4,580,000 | +0 (+0.0%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $4,580,000 | $3,970,500 | $609,500 | — | $4,580,000 | $4,580,000 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $4,740,000 | $3,970,500 | $769,500 | — | $4,740,000 | $4,740,000 | ~$97,003 | Partial |
| 2024 | $4,091,500 | — | — | −$121,000 | $3,970,500 | $— | $87,109 | Verified |
| 2023 | $3,841,000 | — | — | — | $3,970,500 ! | $— | $74,025 | Verified |
| 2022 | $3,674,000 | — | — | −$1,424,050 | $2,249,950 | $— | $75,857 | Verified |
| 2021 | $3,674,000 | — | — | −$1,424,050 | $2,249,950 | $— | $79,971 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -3.4% | -3.4% | ~100% | Not available | Partial |
| 2025 | +7.8% | +7.8% | ~100% | Not available | Partial |
| 2024 | +7.4% | +7.4% | ~100% | 1.9800% | Verified |
| 2023 | +6.5% | +6.5% | ~100% | 1.8100% | Verified |
| 2022 | +4.5% | +4.5% | ~100% | 1.9700% | Verified |
| 2021 | base year | — | ~100% | 2.1800% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +29.0% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -3.4% | +4.7% | +7.3% | +15.8% | 2025 | -3.4% | 2026 |
| Assessment Ratio | 100.0% | 87.1% | — | 103.4% | 2023 | 61.2% | 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 |
$97,003 | $82,793 | ~$112,039 | $97,003 | 2025 | $74,025 | 2023 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$5,051,707 | ~$5,051,707 | ~2.0139% | ~$101,738 | +6.6% |
| 2027 | ~$5,383,912 | ~$5,383,912 | ~1.9814% | ~$106,676 | +13.6% |
| 2028 | ~$5,737,963 | ~$5,737,963 | ~1.9488% | ~$111,824 | +21.1% |
| 2029 | ~$6,115,297 | ~$6,115,297 | ~1.9163% | ~$117,187 | +29.0% |
| 2030 | ~$6,517,444 | ~$6,517,444 | ~1.8837% | ~$122,772 | +37.5% |
| 2026 | ~$4,956,907 | ~$4,956,907 | ~2.0465% | ~$101,442 | +4.6% |
| 2027 | ~$5,183,740 | ~$5,183,740 | ~2.0465% | ~$106,084 | +9.4% |
| 2028 | ~$5,420,952 | ~$5,420,952 | ~2.0465% | ~$110,939 | +14.4% |
| 2029 | ~$5,669,020 | ~$5,669,020 | ~2.0465% | ~$116,016 | +19.6% |
| 2030 | ~$5,928,440 | ~$5,928,440 | ~2.0465% | ~$121,325 | +25.1% |
| 2026 | ~$5,146,507 | ~$5,146,507 | ~1.9977% | ~$102,810 | +8.6% |
| 2027 | ~$5,587,876 | ~$5,587,876 | ~1.9488% | ~$108,899 | +17.9% |
| 2028 | ~$6,067,098 | ~$6,067,098 | ~1.9000% | ~$115,276 | +28.0% |
| 2029 | ~$6,587,418 | ~$6,587,418 | ~1.8512% | ~$121,946 | +39.0% |
| 2030 | ~$7,152,361 | ~$7,152,361 | ~1.8024% | ~$128,912 | +50.9% |
In 2025, this property's market value of $4,740,000 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — 9× the county median of $519,778. Multi-Family here is the broad TCAD category — every multi-family 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 | $4,740,000 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $4,091,500 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $3,841,000 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | $3,674,000 | $506,618 | $615,058 | $906,429 | ↑ Top 25% | +39.1% |
| 2021 | $3,674,000 | $300,453 | $376,850 | $539,896 | ↑ 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.