Texas Tax Code 41A.01 – Right of Appeal by Property Owner
Current as of: 2024 | Check for updates
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Terms Used In Texas Tax Code 41A.01
- 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.
- 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
As an alternative to filing an appeal under § 42.01, a property owner is entitled to appeal through binding arbitration under this chapter an appraisal review board order determining a protest filed under § 41.41(a)(1) or (2) concerning the appraised or market value of property if:
(1) the property qualifies as the owner’s residence homestead under § 11.13; or
(2) the appraised or market value, as applicable, of the property as determined by the order is $5 million or less.