Property Tax Arbitration, the final step after going through the Appraisal Review Board at the Travis County Central Appraisal District, or any other county in Texas. You can file Arbitration through the state of Texas Comptroller's Office, and I go into detail here.
I want to explain a little more about what happens at the hearing. If you're a homeowner, just because you know your one neighbor sold their home for $X, that does not mean you can or should base your entire case off one house. When you come to an arbitration hearing and you have information for one property, you are not giving the arbitrator enough information to value your home.
The arbitrator also has to look at the evidence that the county Appraisal District provides. If they provide 20 comparable sales and you only provide the one, what evidence do you think gets more weight? If they provide 7 comparable sales and you only provide the one, again, what evidence gets more weight.
Your market value is not determined by one sale nor is it determined by other homes' current tax value once you get to arbitration. Arbitration is completely different than the Appraisal Review Board.
After you go to your arbitration hearing, the decision is binding.
The value awarded is one value, and not broken down by land value and improvement value. It's up to the county to divide the number how they determine it should be broken down, but the arbitrator gives one value.
If you're not happy with the decision, don't attack the arbitrator. Attack your own evidence.
Award decisions are based on the evidence and the evidence alone. It is not based on the Arbitrator's knowledge of your neighborhood. The Arbitrator can only use evidence provided by both parties and award an unbiased decision based on the information given. The Arbitrator cannot do outside research to help make their decision. If you hear of an Arbitrator doing that, please report them to the Comptroller's office because that is against the rules of this Binding Arbitration.
If you have further questions about the Arbitration process, please don't hesitate to contact me. Or if you're filing for Arbitration and you want to make sure you get someone knowledgeable about the process who will give a fair assessment, please put my name down on the form when you fill it out. Arbitration isn't only done in person, but it can be done via phone across the state as well.
**Are You Packed Yet?**
Donna Harris, REALTOR®
RE/MAX Austin Skyline
www.DonnaHomes.com
Donna@DonnaHomes.com
Austin TX Real Estate and the surrounding areas of Lakeway, Bee Cave, West Lake Hills, Cedar Park, Round Rock, Spicewood, Circle-C, Steiner Ranch, and everywhere in between... Hill Country Austin TX Real Estate and beyond. Whether you're buying or selling an Austin home, I'll be with you every step of the way.
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Copyright© 2009 By Donna Harris, All Rights Reserved. You may re-blog with links back to this post.
* Property Tax Arbitration - When you don't like the Appraisal Review Board's Decision * was first published on donnahomesblog.com
Donna
Thanks for sharing the information, its very helpful.
Good luck and success.
Lou Ludwig
Thanks Donna, This is very interesting and useful to know that there is a process that may work for the Home owner if used properly. Margaret C.
Lou and Margaret, I'm happy to explain things that might be useful in other markets as well.
Good advice, I had a client talking to me about this the other day.