Home Add to Favorite Contact Submit  
             25 November, 2020
 

    
Category:  Articles » Finances » Taxes

 

Appealing Your Property Taxes

Popularity:
         Views: 2277
2008-11-04 06:12:56     
Article by Patrick O Oconnor

Thousands of Texas homeowners will go through the property tax appeal process this year because the appraisal district incorrectly assessed their home's value. Sometimes getting a satisfactory reduction takes some time, but it is important to utilize the options available until you are offered a fair reduction.

Effective September 1, 2005, the Texas Legislature amended the Texas Property Tax Code to allow property owners the option of appealing an Appraisal Review Board's (ARB) decision for a property with a value of $1 million or less using binding arbitration . The arbitrator can only consider market value at a binding arbitration hearing.

To request binding arbitration, the property owner must complete Comptroller form AP-219, Request for Binding Arbitration. The form and a money order or a check issued and guaranteed by a banking institution, such as a cashier's or teller's check, in the amount of $500 made payable to the Comptroller of Public Accounts, must be delivered to the county appraisal district within 45 days of the receipt of the ARB order.

After the property owner submits the request, the appraisal district has 10 calendar days to certify the application and forward the request and the money order/cashier's check, along with a copy of the ARB order, to the Comptroller.

When compared to a judicial appeal, advantages of binding arbitration include a lower cost, informal process, speedier resolution and the loser pays provision. Also, the property owner does not have the burden of proof at a binding arbitration hearing. So, if the property owner wins the dispute he/she will be refunded $450, and the appraisal district is required to pay the arbitrator's fees. However, if the arbitrator's assigned value is closer to the ARB's value than the property owner's opinion of value, the arbitrator is paid from the property owner's $450 deposit. Once the arbitrator makes a decision, it is final and cannot be disputed.

Questions?
E-mail O'Connor & Associates, or call 1-800-856-REAL.

Reduce your property taxes by contacting O'Connor & Associates.

O'Connor & Associates can represent you at the Denton Central Appraisal District. Patrick C. O'Connor has been president of O'Connor & Associates since 1983 and is a recipient of the prestigious MAI designation from the Appraisal Institute. He is also a registered senior property tax consultant in the state of Texas and has written numerous articles in state and national publications on reducing property taxes. He continues to set the standard in direction and quality of our appraisal products, adding services ranging from business valuations and business appraisals to cost segregation analysis for income tax reduction. Patrick C. O'Connor

http://www.poconnor.com

Specialized in: Cost Segregation - Real Estate Appraisal - Property Tax Reduction - Property Tax - Market Research - Consulting - Appraising - Consultants - Valuation - Commercial Real Estate Services - Feasibility Studies - Htc - Housing Tax Credit Studies And Appraisals - Mark-to-market - Hud - Property Assessment - Comparable Sales
URL: http://www.poconnor.com
Print article      Bookmark this page
Related Articles 
How Much Will My Tax Deduction Be if I Donate My Car? (Popularity: ): Often one of the first questions a person has when deciding what to do with a car they no longer want is “What will my tax deduction be if I donate it to charity?” When you donate car to charity the amount you can claim on your itemized federal tax return depends on two things; the fair market value of your car and what the charity does with the car.The ...
Getting a Copy of Your Past Tax Returns (Popularity: ): Tax returns are part of our "important documents" when it comes to finances. If you want to get a mortgage or loan, you might be required to show copies of them. So, what do you do if you can't find the returns for a particular year? Well, there is no need to stress.The first thing to understand is the IRS is your friend in this regard. For all the discussion ...
The Real Deal on Alliance Bernstein 529 Plans (Popularity: ): If you ever once dreamed of become an architect, a doctor, a nurse, an engineer, a lawyer, or many other things, you would probably know that a college degree or better is needed to make these dreams possible. All over the world and all over America, many families try making dreams into reality by sending family members to college. This is not so easy however, especially in the United States. ...
Avoiding Disaster - Data Loss At Tax Time (Popularity: ): Brisbane, QLD, 3rd April 2007 - Taxpayers and tax professionals are increasingly preparing and filing tax returns online, creating a reliance on digital data that, if lost through malfunction or error, could spell disaster. Last year, 90 per cent of Australian taxpayers lodged returns electronically, and the Tax Commissioner is aiming to boost that number to 95 per cent of taxpayers in 2007/8. As insurance against this risk, CBL Data ...
Sending Your Kids To College - Educating Your Children (Popularity: ): What are parents to do in this financial climate in so far as educating our dear children? As always, the answer is right before our very eyes. We need only to look, listen, and seek knowledge that is understandable and practical. Welcome to my show and the MWIB series regarding financial studies. Please read and learn and be sure to ask lots of questions.For those of you who haven’t heard, ...


Related Business 
How To Appeal Property Tax (Popularity: ): If you want help to know more about how to appeal property tax, then we 1800 law firm helps you for appealing property taxes. We will guide you to reduce your property and real estate tax overheads by using our easy and effective Property Tax Service.
Help With Property Taxes (Popularity: ): Do you want to reduce property tax and search a Tax Reduction Services for pay Lower Property Tax? Take the Help With Property Taxes from 1800 law firm Property Tax Consultant and knowing about How to Appeal Property Tax and reduce Property Taxes in Michigan.
Reassessment Of Property Taxes (Popularity: ): Reassessment of Property Taxes gives you more saving on property and real estate tax. With the help of 1800 law firm Property Tax Appeal Process you may lower your property tax and it also guide you to choose the right path of Reassessment of Property Taxes by the help of property tax lawyer.
Protest Property Taxes (Popularity: ): Make yourself smart and Lower Your Property Tax. Connect with 1800 law firm to Protest Property Taxes and use your rights to Reducing Property Taxes by using our easy and effective Property Tax Service. The Tax Tribunal is an administrative tax court. As the State's tax court the Tribunal has the authority over assessment disputes relating to both property and non-property tax matters.
Propel Tax (Popularity: ): Propel Tax is a property tax financing company providing resides in Bexar County, TX with financial assistance for their property taxes. We are an excellent resource for those individuals seeking help with their Texas property taxes. There are many advantages to letting our Texas property tax specialists assist in helping you pay your property taxes.
Property Tax Solutions (Popularity: ): Property Tax Assessment is the best way to reduce property tax overheads. Get the benefit with 1800 law firm on appealing Property Tax Assessment or property tax solutions and remove your all concerns about property tax. We have achieved significant tax savings for our clients by appealing their property tax assessments. We require no money up front and will advance costs on your behalf.
Hunter-Kelsey - Property Tax Loans For Texas (Popularity: ): Helps Texans who are delinquent on their property taxes. Pays property taxes to the authorities, helping property owners stop incurring penalties, interest, and attorney collection fees.
Lower Your Property Taxes (Popularity: ): Make yourself smart and Lower Your Property Taxes with the help of 1800 law firm Property Tax Services and reduce your property and real estate tax overheads by using our easy and effective Property Tax Service.
Property Taxes Appeal (Popularity: ): You can save property and real estate tax by the Property Tax Assessment Appeal and found more benefit on Real estate property Tax Deduction with 1800 Law Firm. Property Taxes Appeal helps you to pay less property tax and provide saving on real estate taxes.
Lowering Property Taxes (Popularity: ): Get benefit on Property Tax Deductions at overtaxed real estate and property. Get connect with 1800 law firm for Property Tax Services and use our ideas for Lowering Property Taxes and Rental Property Tax Deductions.