1608 PALMA PLAZA TX 78703
| Owner | HATFIELD THOMAS M & CAROL S |
|---|---|
| Parcel ID | 0111031010 |
| Short ID | 110213 |
| Type | Real |
| Use Code | 02 Duplex |
| Valuation | Cost |
| Improvement SF | 1,728 SF |
| Land SF | 6,434 SF |
| Acres | 0.148 |
| Year Built | 1935 |
| Legal | LOT 15 ENFIELD C |
| Neighborhood | Z3005 |
| Land | $814,393 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $814,393 |
| Improvement | $221,341 |
|---|---|
| Total Improvement | $221,341 |
| Market | $1,035,734 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $1,035,734 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $1,035,734 |
| Taxable Value | $1,035,734 |
|---|
Appreciation: Market value has risen +52.2% from $680,315 (2021) to $1,035,734 (2025), a CAGR of 11.1% over 4 years. This is strong appreciation — well above typical inflation. Most of this growth came in a single year (2022→2023), 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 outpaced 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 $21,196. 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 cost approach, tied more to replacement cost and physical condition than to income performance.
Value Composition: Land carries 79% of market value ($814,393 land vs $221,341 improvements), about $127/SF of land. With value concentrated in the land under a ~91-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 $1,035,734, 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 +11.1% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $1,751,544 by 2030, with an estimated annual tax burden around $31,422. 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.
5 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 1ST | 1st Floor | 1,728 SF | ✓ |
| 031 | GARAGE DET 1ST F | 170 SF | ✓ |
| 612 | TERRACE UNCOVERD | 72 SF | ✗ |
| SO | Sketch Only | 72 SF | ✗ |
| 251 | BATHROOM | 2 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% | $9,582.61 | $9,582.61 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $5,427.42 | $5,427.42 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $3,892.75 | $3,892.75 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $1,222.40 | $1,222.40 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $1,070.95 | $1,070.95 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $21,196.13 | $21,196.13 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $760,101 | $1,035,734 | -26.6% |
| Assessed Value | $760,101 | $1,035,734 | -26.6% |
| Land Value | $760,100 | $814,393 | -6.7% |
| Improvement Value | $1 | $221,341 | -100.0% |
| Taxable Value | $760,101 | $1,035,734 | -26.6% |
| Total Tax 2026 = estimate |
~$15,555
Estimated
|
~$21,196
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $876,977 | $760,101 | -116,876 (-13.3%) |
| Taxable Value | $876,977 | $760,101 | -116,876 (-13.3%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $760,101 | $760,100 | $1 | — | $760,101 | $760,101 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $1,035,734 | $814,393 | $221,341 | — | $1,035,734 | $1,035,734 | ~$21,196 | Partial |
| 2024 | $1,182,863 | — | — | −$432,863 | $750,000 | $— | $22,289 | Verified |
| 2023 | $1,100,208 | — | — | −$350,208 | $750,000 | $— | $21,401 | Verified |
| 2022 | $713,700 | — | — | — | $750,000 ! | $— | $21,728 | Verified |
| 2021 | $680,315 | — | — | −$180,315 | $500,000 | $— | $15,535 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -15.3% | -15.3% | ~100% | Not available | Partial |
| 2025 | -7.9% | -7.9% | ~100% | Not available | Partial |
| 2024 | -4.9% | -4.9% | ~100% | 1.9800% | Verified |
| 2023 | -2.6% | -2.6% | ~100% | 1.8100% | Verified |
| 2022 | +70.2% | +70.2% | ~100% | 1.7900% | Verified |
| 2021 | base year | — | ~100% | 2.2800% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +45.1% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -26.6% | +5.5% | +19.1% | +54.2% | 2023 | -26.6% | 2026 |
| Assessment Ratio | 100.0% | 85.0% | — | 105.1% | 2022 | 63.4% | 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 |
$21,196 | $20,430 | ~$27,025 | $22,289 | 2024 | $15,535 | 2021 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$1,150,490 | ~$1,139,307 | ~2.0139% | ~$22,945 | +11.1% |
| 2027 | ~$1,277,960 | ~$1,253,238 | ~1.9814% | ~$24,832 | +23.4% |
| 2028 | ~$1,419,554 | ~$1,378,562 | ~1.9488% | ~$26,866 | +37.1% |
| 2029 | ~$1,576,836 | ~$1,516,418 | ~1.9163% | ~$29,059 | +52.2% |
| 2030 | ~$1,751,544 | ~$1,668,060 | ~1.8837% | ~$31,422 | +69.1% |
| 2026 | ~$1,129,775 | ~$1,129,775 | ~2.0465% | ~$23,121 | +9.1% |
| 2027 | ~$1,232,355 | ~$1,232,355 | ~2.0465% | ~$25,220 | +19.0% |
| 2028 | ~$1,344,249 | ~$1,344,249 | ~2.0465% | ~$27,510 | +29.8% |
| 2029 | ~$1,466,302 | ~$1,466,302 | ~2.0465% | ~$30,008 | +41.6% |
| 2030 | ~$1,599,437 | ~$1,599,437 | ~2.0465% | ~$32,732 | +54.4% |
| 2026 | ~$1,171,204 | ~$1,139,307 | ~1.9977% | ~$22,760 | +13.1% |
| 2027 | ~$1,324,394 | ~$1,253,238 | ~1.9488% | ~$24,424 | +27.9% |
| 2028 | ~$1,497,620 | ~$1,378,562 | ~1.9000% | ~$26,193 | +44.6% |
| 2029 | ~$1,693,504 | ~$1,516,418 | ~1.8512% | ~$28,072 | +63.5% |
| 2030 | ~$1,915,009 | ~$1,668,060 | ~1.8024% | ~$30,065 | +84.9% |
In 2025, this property's market value of $1,035,734 places it in the top 25% for Multi-Family properties in Travis County (12584 comparable) — +99% above 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 | $1,035,734 | $438,669 | $519,778 | $749,859 | ↑ Top 25% | -7.5% |
| 2024 | $1,182,863 | $467,458 | $564,615 | $848,565 | ↑ Top 25% | -6.3% |
| 2023 | $1,100,208 | $503,905 | $617,035 | $919,932 | ↑ Top 25% | +0.9% |
| 2022 | $713,700 | $506,618 | $615,058 | $906,429 | ↑ Above median | +39.1% |
| 2021 | $680,315 | $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.