Justice was not served, but will be.
I am aggravated.
We sold our home in Memorial for 773,550 on March 14th after having moved into our new on several months previous.
The appraisal district valued at $1,351,000 because it over valued the half of the land in the creek which often has 4 feet of water.
I am a licensed Senior Property Tax Consultant and a real estate broker.
I went to the formal hearing in front of 3 Appraisal Review Board members who are alledgedly our peers.
The board members are politically appointed by taxing jurisdictions
Each tax jurisdiction appoints several several members to the Appraisal District and real estate experience is not required.
Think this might be a political appointment ??
We showed evidence
a title company closing statement for $773,550
Color coded land survey showing the creek with water
Photos of the 20 foot incline from the creek
MLS archive report showing that the property had been advertised for 407 days.
Stated that the home is still vacant because the new owner intends to build a new home.
The 3 board members unanimously upheld the value at $1,351,000
Now we have to pay the $800 to the State of Texas Comptroller for binding arbitration by a registered arbitrator, whose decision is final. The fee is smaller for lower value properties.
I was once a registered arbitrator and know that if the arbitrator reduced the value to the median value $1,062,375 between our value $773,550 and the board value $1,351,200, then most of the $800 arbitrator fee is returned to the owner
And the appraisal district must pay the arbitrator $750