The Texas Administrative Code received an update this year. This is something that many property owners in Texas have been waiting for. This is because there have been quite a few flaws with the tax code in recent years.

Thanks to the new tax reform law, a lot of options became open to property owners. Not only are the tax rates reviewed, but the qualifications for arbitrators as well.

The appraisal review board has come up with a qualifying list. This is for current and new applicants who wish to serve as arbitrators.

Need to know more about the updates? Then read on below to see what these qualifying requirements are.

Property Tax Code

This article aims to help you understand what the significant changes are in the tax code.

The Registry and Qualifications to Be an Arbitrator

Arbitrators are independent bodies or people appointed to help settle disputes. You can see them in protest hearings and other related tax reform situations.

It’s important for property owners to know their arbitrators and trust them. It is also vital that arbitrators have the right education for them to get the position.

The comptroller needs to have the list of qualifying applicants. Applicants are those who agree to serve as arbitrators and have the qualification.
The applicant should be a licensed attorney in the state.
The applicant needs to complete 30 hours of training. This training should be in arbitration and alternative dispute resolution procedures. Training needs to be from a college or a legal/real estate trade association. Establishments that offer the training have to have the right certification.

What Are the Requirements That Legal Professionals Should Comply?

Given that licensed attorneys are being accepted as applicants, how do they qualify? There are certain requirements that let a legal professional serve as an arbitrator. Below are the needed conditions they have to pass.

The license should be at least five years before a person serves as an arbitrator for the following:

Arbitration Fees: How Much Should One Collect?

Arbitration fees can also be tricky. But the tax reform code does address what should be the right fee for the service. According to the update, the arbitration fee should be as follows:

  • Not more than $400. This is if the property is the owner’s house/homestead. The appraised market value of the property should be $500,000 or less.
  • $450. This also applies to the property as the owner’s house/homestead. But the appraised market value should be more than $500,000
  • $750. This is applicable if the property is not the owner’s house/homestead. The appraised market value should be more than $1 million, but not more than $2 million.
  • $1,000. This is also applicable to properties that aren’t the owner’s house/homestead. The appraised market value needs to be more than $2 million but not more than $3 million.
  • $1,500. This is the fee for properties that aren’t the owner’s house/homestead. The appraised market value needs to be more than $3 million but not more than $5 million.

What an Arbitrator Training Program Should Be About

The training program that arbitrators must complete should be about property tax law. This is to prepare them before conducting an arbitration hearing.

These hearings cover the appeal of an appraisal review board order. This is where the protests are under review and determined.

The training program needs to emphasize requirements in equal and uniform property appraisal. They should also be around four hours long. Training also needs prior approval from the comptroller.

Are You Qualified to Be an Arbitrator? Do You Now Know How to Choose One?

Whether you are applying or checking applicants, it helps to know the requirements. This helps give you more understanding about what the job is all about. It might be normal for you to encounter arbitrators. But now you know more about their process of recruitment.

Learning about the qualifying requirements helps you understand the process. You’re now aware of what arbitrators need to do before landing the title.

Your property taxes will be aggressively appealed every year by the #1 property tax firm in the country. If your taxes are not reduced you PAY NOTHING, and a portion of the tax savings is the only fee you pay when your taxes are reduced! Many FREE benefits come with enrollment.