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(a)An arbitrator shall determine the appraised or market value of the property that is the subject of the arbitration. The arbitrator's determination shall meet the requirements of Tax Code, §41A.09(b). In no event may the arbitrator determine that the appraised or market value of property is less than the value that the property owner believes is the accurate market or appraised value, as shown on the Request for Binding Arbitration or greater than the market or appraised value determined by the Appraisal Review Board and from which the owner appeals. (b)An arbitrator is required to follow Comptroller rules and the relevant requirements of Tax Code, Chapter 23, Subchapters B, C, D, E, or H to determine the appraised value of property qualified for productivity or other special appraisal under Tax Code, Chapter 23, Subchapters B, C, D, E, or H. (c)If the limitation on appraised value required by Tax Code, §23.23 has resulted in a residence homestead with an appraised value that is lower than its market value, the arbitrator may not change the appraised value unless: (1)the arbitrator determines that appraisal district incorrectly determined the property's appraised value and the arbitrator's determination would correctly apply to Tax Code, §23.23; (2)the determination of the appraised value of the property reflected in the appraisal review board 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 appraisal review board order and the change reduces the appraised value to the market value determined by the arbitrator. (d)The arbitrator shall make a final determination and award by completing and signing the form prescribed by this subchapter before the 11th day after the arbitration hearing. The arbitrator shall deliver: (1)to the owner and appraisal district, by facsimile transmission, regular-first class mail or another other means of transmission acceptable to the arbitrator and the party, a copy of the determination and award form; and (2)to the comptroller by facsimile transmission, electronic mail or another means of immediate transmission approved by the comptroller.
This agency hereby certifies that the proposal
has been reviewed by legal counsel and found to be within the agency's
legal authority to adopt.
Filed with the Office
of the Secretary of State on December 17, 2009
TRD-200905922 Ashley Harden
General
Counsel
Comptroller of Public Accounts
Earliest possible date of adoption: January 31, 2010
For further information, please call: (512) 475-0387
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