A lot of people are happy about the latest Property Tax Bill for Texas. This update helped fix the major flaws found in the system, with the help of Senate Bill 2 (SB 2) of the Texas Property Tax Reform and Transparency Act of 2019.

Lowering of the tax rate is one of the most anticipated news of property owners. Rising property values is something that property owners are always concerned with.

To understand what the 41A.061 section or the renewal requirements for arbitrators call for, read more below and learn how to complete the requirements.

Property Tax Reform

This article helps to clarify how arbitrators become qualified for renewal.

What the Renewal of the Agreement for Arbitrator Qualification Is All About

According to SB 2 section 41A.061 (b)(c), there are updates on the arbitration review board (ARB) members. The ARB board training has updated requirements for existing and new members.

Property owners who might have had bad impressions of the members now have new hope. Part of the requirement for members is to go through an 8-hour training session.

This also goes the same for arbitrators who hear protests.

A Closer Look at How a Person Can Continue to Serve as Arbitrator

If you want to know the exact requirements that arbitrators need to qualify, we’ll break them down for you.

There needs to be a qualified arbitrator in the registry. This should be in place until the 2nd anniversary of the date when the person was first added. An arbitrator is a person “officially” appointed to help settle disputes.

To be in the registry after the 2nd anniversary, renewal of the arbitrator agreement is in need. The renewal needs to be close to the issuance of the license or certification dates.

Requirements to Renewing a Person’s Arbitrator Position

To keep your position as an arbitrator you must file a renewal application. That person should follow what the comptroller advises him/her about the application.

You also need to make sure that you meet the arbitrator requirements mentioned above.

It’s also important that an applicant has completed at least 8 hours of education. The education requirement includes continuing education in arbitration and alternative dispute resolution procedures. Bear in mind that education should come from the following:

  • University
  • College
  • Legal Association
  • Real Estate Association

It’s also important to note that the person needs to complete the education at least 2 years prior. The applicant shouldn’t have skipped these and has had continuous education.

How Is a Person Removed from the Registry?

One thing that applicants or current arbitrators wouldn’t want to happen is removal. This is possible as long as a property owner or a group of owners have issues against you.

Arbitrators can face registry removal when their agreement renewal is being denied. They can also face removal if the issues work against them. This means when the comptroller determines a good cause for removal, it’s implemented.

Things that can get an arbitrator removed include having a repeated bias. If there is evidence of misconduct, it can also remove one’s position. Simply put, a person can face removal from service if they have misconduct while acting as an arbitrator.

The Importance of Renewals and Following the Requirements

As more and more property owners want good changes, these changes need implementation. The new tax reform law gives property owners more freedom and options with their taxes.

This is why the updates on the tax reform law focus on making things easier for property owners. If you are a good arbitrator, you will still have your place. You have to make sure that you and the property owners are in good standing with each other,

Of course, completing your application and ensuring you have the education is crucial.

 

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