114 W 7 ST 2 TX 78701
| Owner | NORWOOD TOWER L P |
|---|---|
| Parcel ID | 0206032103 |
| Short ID | 525323 |
| Type | Real |
| Use Code | 50 Office Hi-Rise (≥6 Stories) |
| Valuation | Income |
| Improvement SF | 46,420 SF |
| Land SF | 33,623 SF |
| Acres | 0.772 |
| Year Built | 1929 |
| Legal | UNT 2 NORWOOD TOWER CONDOMINIUM PLUS 94.000% INT IN COM AREA |
| Neighborhood | 50CBD |
| Land | $5,379,658 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $5,379,658 |
| Improvement | $18,980,182 |
|---|---|
| Total Improvement | $18,980,182 |
| Market | $24,359,840 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $24,359,840 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $24,359,840 |
| Exemptions (−) (HT) | −$10,835,006 |
|---|---|
| Taxable Value | $13,524,834 |
Appreciation: Market value has fallen -35.9% from $37,992,000 (2021) to $24,359,840 (2025), a CAGR of -10.5% over 4 years. Growth has been relatively flat for this asset class. 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 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 $276,784. Austin ISD is the largest single contributor, at 50.1% 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 22% of market value ($5,379,658 land vs $18,980,182 improvements), about $160/SF of land. Most value sits in the improvements, so building condition, age (~97 yrs), and rent roll drive the underwriting.
Submarket Position: At $24,359,840, 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 -10.5% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $13,976,624 by 2030, with an estimated annual tax burden around $263,284. 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.
9 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 187 | PARKING GARAGE | 62,232 SF | ✓ |
| ADDL | Additional Floor | 55,296 SF | ✓ |
| 1ST | 1st Floor | 26,964 SF | ✓ |
| 5TH | 5th Floor | 14,622 SF | ✓ |
| FBSMT | Finished Basement | 7,280 SF | ✓ |
| 3RD | 3rd Floor | 6,912 SF | ✓ |
| 4TH | 4th Floor | 6,912 SF | ✓ |
| 2ND | 2nd Floor | 5,264 SF | ✓ |
| 399 | DETAIL CONDO FV | 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% | $175,254.50 | $175,254.50 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $70,872.43 | $70,872.43 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $50,832.41 | $50,832.41 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $25,188.07 | $25,188.07 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $15,962.41 | $15,962.41 | Paid |
| P2U | — | — | — | — | — | — | $12,047.97 | $12,047.97 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $350,157.79 | $350,157.79 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $26,898,288 | $24,359,840 | +10.4% |
| Assessed Value | $26,898,288 | $24,359,840 | +10.4% |
| Land Value | $26,898,288 | $5,379,658 | +400.0% |
| Improvement Value | — | $18,980,182 | — |
| Taxable Value | $17,181,087 | $13,524,834 | +27.0% |
| Exemptions | HT | HT | |
| Total Tax 2026 = estimate |
~$351,608
Estimated
|
~$350,158
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $32,883,546 | $26,898,288 | -5,985,258 (-18.2%) |
| Taxable Value | $23,166,345 | $17,181,087 | -5,985,258 (-25.8%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $26,898,288 | $26,898,288 | — | — | $26,898,288 | $17,181,087 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $24,359,840 | $5,379,658 | $18,980,182 | — | $24,359,840 | $13,524,834 | ~$350,158 | Partial |
| 2024 | $36,250,000 | — | — | −$30,870,342 | $5,379,658 | $— | $433,157 | Verified |
| 2023 | $45,994,690 | — | — | −$40,615,032 | $5,379,658 | $— | $460,489 | Verified |
| 2022 | $38,411,300 | — | — | −$33,031,642 | $5,379,658 | $— | $633,848 | Verified |
| 2021 | $37,992,000 | — | — | −$32,612,342 | $5,379,658 | $— | $580,902 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +35.0% | +35.0% | ~100% | Not available | Partial |
| 2025 | -21.9% | -21.9% | ~100% | Not available | Partial |
| 2024 | -18.6% | -18.6% | ~100% | 1.3900% | Verified |
| 2023 | -16.7% | -16.7% | ~100% | 1.2000% | Verified |
| 2022 | +19.7% | +19.7% | ~100% | 1.3800% | Verified |
| 2021 | base year | — | ~100% | 1.5300% | Verified |
| Cumulative market value growth (earliest valid year → 2025): -36.6% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | +10.4% | -4.6% | -12.2% | +19.7% | 2023 | -32.8% | 2025 |
| Assessment Ratio | 100.0% | 42.4% | — | 100.0% | 2025 | 11.7% | 2023 |
| Effective Tax Rate (2025) | 1.4400% | 1.4400% | — | 1.4400% | 2025 | 1.4400% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$350,158 | $491,711 | ~$345,649 | $633,848 | 2022 | $350,158 | 2025 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$21,798,168 | ~$21,798,168 | ~2.0139% | ~$439,001 | -10.5% |
| 2027 | ~$19,505,881 | ~$19,505,881 | ~1.9814% | ~$386,487 | -19.9% |
| 2028 | ~$17,454,650 | ~$17,454,650 | ~1.9488% | ~$340,163 | -28.3% |
| 2029 | ~$15,619,125 | ~$15,619,125 | ~1.9163% | ~$299,308 | -35.9% |
| 2030 | ~$13,976,624 | ~$13,976,624 | ~1.8837% | ~$263,284 | -42.6% |
| 2026 | ~$23,141,848 | ~$23,141,848 | ~2.0465% | ~$473,594 | -5.0% |
| 2027 | ~$21,984,756 | ~$21,984,756 | ~2.0465% | ~$449,915 | -9.7% |
| 2028 | ~$20,885,518 | ~$20,885,518 | ~2.0465% | ~$427,419 | -14.3% |
| 2029 | ~$19,841,242 | ~$19,841,242 | ~2.0465% | ~$406,048 | -18.5% |
| 2030 | ~$18,849,180 | ~$18,849,180 | ~2.0465% | ~$385,746 | -22.6% |
| 2026 | ~$22,285,365 | ~$22,285,365 | ~1.9977% | ~$445,186 | -8.5% |
| 2027 | ~$20,387,552 | ~$20,387,552 | ~1.9488% | ~$397,321 | -16.3% |
| 2028 | ~$18,651,355 | ~$18,651,355 | ~1.9000% | ~$354,379 | -23.4% |
| 2029 | ~$17,063,013 | ~$17,063,013 | ~1.8512% | ~$315,869 | -30.0% |
| 2030 | ~$15,609,933 | ~$15,609,933 | ~1.8024% | ~$281,349 | -35.9% |
In 2025, this property's market value of $24,359,840 places it in the top 25% for Commercial properties in Travis County (13608 comparable) — 17× 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 | $24,359,840 | $649,268 | $1,417,484 | $3,347,260 | ↑ Top 25% | -0.8% |
| 2024 | $36,250,000 | $661,016 | $1,438,465 | $3,471,171 | ↑ Top 25% | +0.0% |
| 2023 | $45,994,690 | $667,828 | $1,414,358 | $3,374,900 | ↑ Top 25% | +9.7% |
| 2022 | $38,411,300 | $553,066 | $1,215,730 | $2,939,150 | ↑ Top 25% | +3.3% |
| 2021 | $37,992,000 | $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.