|(a) The arbitrator shall determine the appraised or
market value of the property that is the subject of the arbitration.
(b) If the arbitrator makes a determination of the
appraised value of property that qualifies for special appraisal under
Tax Code, Chapter 23, Subchapter B, C, D, E, or H, the statutory provisions
regarding special appraisal and the comptroller's rules, including
the comptroller's special appraisal manuals, must be followed in making
the appraised value determination.
(c) If the arbitrator makes a determination of the
value of a residence homestead that has an appraised value that is
less than its market value due to the appraised value limitation required
by Tax Code, §23.23, the appraised value may not be changed unless:
(1) the arbitrator determines that the formula for
calculating the appraised value of the property under Tax Code, §23.23,
was incorrectly applied and the change correctly applies the formula;
(2) the calculation of the appraised value of the property
reflected in the ARB order includes an amount attributable to new
improvements and the change reflects the arbitrator's determination
of the value contributed by the new improvements; or
(3) the arbitrator determines that the market value
of the property is less than the appraised value indicated on the
ARB order and the change reduces the appraised value to the market
value determined by the arbitrator.
(d) Within twenty (20) calendar days of the conclusion
of the arbitration hearing, the arbitrator shall render and issue
his or her decision by completing and signing the comptroller-prescribed
Arbitration and Determination Award (Form 50-704) or through the online
arbitration system if generally available. The arbitrator shall deliver
a copy of the Arbitration and Determination Award electronically,
by facsimile transmission, by regular first-class mail, or through
the online arbitration system if generally available, to the owner
or agent, the comptroller, and the appraisal district.
(e) An arbitration award is final and may not be appealed
except as permitted under Civil Practice and Remedies Code, §171.088,
and may be enforced in the manner provided by Civil Practice and Remedies
Code, Chapter 171, Subchapter D.