The property tax appraisal logic in Texas is this:
• One entity will decide the appraised values of every taxable property in the county. These are called Central Appraisal Districts. Each district has its own chief appraiser who is in charge of overseeing the work.
• The CAD value each piece of taxable property by use of computer model and actual field visits. Those values are then published as public record. A period of time is then allowed for taxpayers to compare the value that was assessed to their property with assessments of comparable properties.
• If the taxpayer can prove that the assessed value of his property is different from that of similar properties, he can always file an official protest in writing with the CAD. The end of may is when a protest must be filed for each individual tax year.
An informal meeting is then scheduled between a CAD appraiser and the property owner. It is at this meeting that the owner presents the appraiser with evidence of his property's value, and the appraiser provides his appraisal to the property owner. An alternative solution is presented. If the appraiser's offer is unacceptable, the property owner may request the Appraisal Review Board to arbitrate the issue.
• The Appraisal Review Board is made of up of other taxpayers in the county; taxpayers who are not employees of the CAD, and whose determinations cannot be overturned by the CAD. The ARB committee listens to the evidence presented it by the property owner and the evidence presented by the appraiser.
Both will be questioned by the ARB members and then they decide what the appropriate value will be. That value must be used by the CAD.
For home owners who are unsatisfied with the value assigned, there exist another option other than filing a suit against the district. A binding arbitration can be opted for by them. Hundreds of realty experts have received certification to act as arbitrator on your case by the Texas Comptroller. They are able to listen to cases where the houses involved are valued at under $1 million. Arbitration costs are paid by the losing party, but cannot be more than $500.
0 comments:
Post a Comment