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 known as Central Appraisal Districts. There is a chief appraiser overseeing each district.
• Using computer models and site visits, every piece of taxable property is given a value by the CAD. For more help visit Houston Property Tax Appeal Dispute Such values get published subsequently and these are considered as public records.
• Subsequently, a certain amount of time is allowed to the taxpayers for comparison of the assessed value of their property with the assessed value of similar 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. At that meeting the property owner and the appraiser exchange their evidence of the property's value. An agreement is available.
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 composed of taxapayers who are not working for CAD, and whose decisions cannot be influenced by the CAD.
• The ARB committee listens to the evidence presented it by the property owner and the evidence presented by the appraiser. The ARB members ask questions of both, then they determine what the value will be.
The CAD must accept that value.
For home owners who are unsatisfied with the value assigned, there exist another option other than filing a suit against the district. They can ask for something that is called binding arbitration. 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. It is the loser who has to pay the fee for arbitration, and the cost cannot exceed $500.