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| The Binding Arbitration Process
In 2005, the Texas Legislature amended a new law into the Texas Property Tax Code (TPTC) that allows those protesting their property taxes to request binding arbitration - a considerably less expensive and time saving process compared to judicial appeal. Property owners can only request binding arbitration if the property's value as determined by the appraisal review board (ARB) does not exceed $1 million. Also, the arbitrator can only consider market value at a binding arbitration hearing. Both the property owner and the appraisal district have 20 days to agree on an arbitrator and return the completed form to the Comptroller's office. If the property owner and the appraisal district cannot agree on an arbitrator within 20 days, the Comptroller will randomly select and appoint an arbitrator to hear the dispute. The appointed arbitrator will coordinate a date, time and place for the arbitration, and send a list of arbitration rules and procedures to the owner. The owner then chooses whether to conduct the arbitration in person, in writing or by teleconference. It is important the owner carefully review and understand the rules for the arbitration process. These rules will address issues such as timeframe for producing evidence and for producing rebuttal evidence to the other sides for arbitration. If the owner fails to comply with these rules in a timely manner, the owner's evidence will not be considered. The decision of the arbitrator is final and binding on both parties. By arbitrating the dispute the owner agrees to abide by the arbitrator's decision. The arbitrator cannot raise the owner's property value above the ARBs value. If you have already attended an ARB hearing, O'Connor & Associates may be able to assist you through binding arbitration or judicial appeal, even if we didn't protest your taxes. Contact us today to see how we can help you. Questions? E-mail O'Connor & Associates, or call 1-877-4-TAXCUT. Property Tax Survey We are conducting a survey to educate legislators regarding problems with the property tax appeal process. You can help by taking 2 minutes to complete this survey. You will receive a copy of the survey and FREE tips on how to appeal your property taxes. Click here to take our survey. O'Connor handles administrative, binding arbitration and judicial property tax appeals. You pay NOTHING unless we save you money!  Please send me periodic tips on reducing my taxes. O'Connor & Associates -- Your Key to Real Estate Value Corporate Office: 2200 North Loop W., Suite 200 Houston, TX 77018 1-800-856-7325 Dallas * Houston * Los Angeles * Newport Beach If you would like to be removed from this list and receive no future real estate information, click here to unsubscribe. |
Property Tax Tips
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