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Options for continuing an appeal of your Collin Central Appraisal District assessed value after the appraisal review board (ARB) hearing Collin Central Appraisal District uses mass appraisal to value over 1.6 million property accounts annually. Informal and appraisal review board (ARB) hearings are available to resolve disputes in market value and unequal appraisal. While most protest (i.e. appeals) are resolved during the administrative hearings (informal and ARB), there are thousands of Collin Central Appraisal District accounts which merit further appeal. Collin Central Appraisal District assessed values can be appealed after the ARB hearing. For properties with an assessed value of $1,000,000 or less after the ARB hearing, you can choose binding arbitration to appeal market value or a judicial appeal (lawsuit in district court). For properties with a Collin Central Appraisal District value in excess of $1,000,000, you can file a judicial appeal. Binding arbitration and judicial appeals share several characteristics:
Advantages of using binding arbitration to appeal your Collin Central Appraisal District value after the ARB hearing include lower cost, speedier decisions, an independent arbitrator who understands valuation and the opportunity to directly address the valuation problem outside of Collin Central Appraisal District offices. Costs are lower because you do not need an attorney or an expert witness (likely to be necessary to seriously pursue a judicial appeal against Collin Central Appraisal District). The Texas Comptroller expects binding arbitration cases to be resolved in 6 months while judicial appeals usually take 8 to 18 months. The arbitrator will be licensed appraisers or real estate agents/brokers and should understand real estate valuation. Even though the arbitrator is a real estate agent or appraiser, they may not be familiar with some types of commercial properties. Attempt to confirm your arbitrator is competent for the subject property. Disadvantages of binding arbitration include
Property owners should seriously consider appealing the Collin Central Appraisal District assessed value after the ARB hearing. Most judicial appeals are successful. Preparing for Binding Arbitration Request for Binding Arbitration More Information on Judicial Appeals Hire O'Connor & Associates to appeal high property taxes. You pay NOTHING unless we save you money! Links & Resources | |