Binding arbitration is a legal recourse option for a property owner who is unsatisfied with a final value that the Appraisal Review Board (ARB) determined at a formal hearing. Available for residential or commercial properties appraised at under $1 million, binding arbitration also applies to residential properties that qualify for Homestead Exemptions regardless of their value. Homeowners with properties valued above $1 million may request a district court hearing instead of binding arbitration.
2. Binding Arbitration in Texas
Binding arbitration is a legal recourse option for a
property owner who is unsatisfied with a final value
that the Appraisal Review Board (ARB) determined
at a formal hearing. Available for residential or
commercial properties appraised at under $1 million,
binding arbitration also applies to residential
properties that qualify for Homestead Exemptions
regardless of their value. Homeowners with
properties valued above $1 million may request a
district court hearing instead of binding arbitration.
3. Binding Arbitration in Texas
To request binding arbitration, a property owner must
submit a Request for Binding Arbitration form, along
with an administrative fee of $500, or $250 for
expedited arbitration. The fee is to be sent to the
Texas Comptroller of Public Accounts, using a
money order or cashier's check. If the arbitrator rules
in favor of the property owner, the owner receives a
refund of the fee, less $50.
4. Binding Arbitration in Texas
Founded in 1987, Novotny & Company assists
property owners in Texas with a number of appraisal
and taxation issues, including representation during
binding arbitration cases. Regions that the company
serves include Harris, Montgomery, Galveston, Fort
Bend, and Brazoria counties. For more information
about Novotny & Company, please visit
www.novotnycompany.com.
