Relating to access to and fees associated with binding arbitration of appraisal review board orders.
Impact
The enactment of SB849 will notably impact state laws related to property tax appeals, offering a structured pathway for homeowners and property owners seeking to contest appraisal reviews. By establishing clear guidelines on fees and eligibility criteria for arbitration, the bill is designed to make the appeal process more accessible and potentially less costly for property owners. This amendment is anticipated to streamline litigation regarding property valuations and enhance the efficiency of property tax dispute resolutions at the state level.
Summary
SB849 aims to amend the Tax Code regarding access to binding arbitration for appraisal review board orders primarily affecting property values. The bill provides property owners the option to appeal through arbitration if their property's appraised or market value is $3 million or less and specifies certain fees associated with initiating such arbitration. This legislation modifies the amount of the deposit needed for arbitration based on the nature and value of the property, as well as the ownership status (i.e., whether it is a homestead). Additionally, it sets requirements for individuals who may serve as arbitrators under this amended process.
Sentiment
The sentiment surrounding SB849 appears to be largely positive among stakeholders who favor smoother and more accessible processes for property owners. The ease of arbitration suggested by the bill is viewed as a beneficial adjustment for individuals seeking to resolve appraisal disputes without lengthy court proceedings. However, there is also an acknowledgment of potential concerns regarding the access to qualified arbitrators under the new criteria, which could impact the effectiveness of the arbitration process for property owners.
Contention
Despite the overall support, notable points of contention may arise regarding the administrative costs allocated for arbitration and the potential limiting nature of property value thresholds. Critics may argue that the cost adjustments and deposit structures could inadvertently constrain access for certain homeowners, particularly those whose properties hover near value limits. Furthermore, the effectiveness of the arbitration process and the qualifications of arbitrators may be scrutinized, ensuring that it meets the diverse needs of property owners across varying economic backgrounds.
Relating to the matters that may be the subject of limited binding arbitration to compel compliance with procedural requirements related to protests before appraisal review boards.
Relating to the calculation of certain ad valorem tax rates of a taxing unit for a year in which a property owner provides notice that the owner intends to appeal an order of an appraisal review board determining a protest by the owner regarding the appraisal of the owner's property.
Relating to the authority of an appraisal review board to direct changes in the appraisal roll and related appraisal records if a residence homestead is sold for less than the appraised value.