Texas Tax Code 41A.04 – Contents of Request Form
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Tax Code 41A.04
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Appraisal: A determination of property value.
- Comptroller: means the Comptroller of Public Accounts of the State of Texas. See Texas Tax Code 1.04
- Market value: means the price at which a property would transfer for cash or its equivalent under prevailing market conditions if:
(A) exposed for sale in the open market with a reasonable time for the seller to find a purchaser;
(B) both the seller and the purchaser know of all the uses and purposes to which the property is adapted and for which it is capable of being used and of the enforceable restrictions on its use; and
(C) both the seller and purchaser seek to maximize their gains and neither is in a position to take advantage of the exigencies of the other. See Texas Tax Code 1.04 - Property: means real and personal property. See Texas Government Code 311.005
- Rule: includes regulation. See Texas Government Code 311.005
The comptroller by rule shall prescribe the form of a request for binding arbitration under this chapter. The form must require the property owner to provide only:
(1) a brief statement that explains the basis for the property owner’s appeal of the appraisal review board order;
(2) a statement of the property owner’s opinion of the appraised or market value, as applicable, of the property that is the subject of the appeal; and
(3) any other information reasonably necessary for the comptroller to process the request and appoint an arbitrator.