Section 52IAC2-11-2. Arbitration

   (a) An appeal may, with the consent of the parties, be resolved by arbitration. Requests for diversion of an appeal to arbitration may be made by any party, or the board may recommend that the matter be arbitrated.

  (b) The arbitration may be conducted by a licensed real estate appraiser or other qualified person who shall do the following:

(1) Inspect the subject property.

(2) Prepare a report that includes the arbitrator's recommendation on the value of the property.

(3) Submit the report to the parties and the board.

  (c) The board shall accept the arbitrator's recommendation if the:

(1) parties have agreed, in writing, to be bound by the arbitrator's recommendation; and

(2) recommendation is not:

(A) arbitrary;

(B) capricious;

(C) an abuse of discretion; or

(D) contrary to law.

  (d) The costs of arbitration must be paid by the parties.

  (e) The arbitrator may be selected by the parties from a panel of arbitrators approved by the board as follows:

(1) The board shall present the parties with a panel of three (3) arbitrators.

(2) The respondent, or corespondents acting jointly, shall strike one (1) name from the panel.

(3) The petitioner, or copetitioners acting jointly, shall strike one (1) name from the panel.

(4) The remaining arbitrator shall conduct the arbitration.

(Indiana Board of Tax Review; 52 IAC 2-11-2; filed Jan 26, 2004, 11:30 a.m.: 27 IR 1786; filed Nov 14, 2007, 11:11 a.m.: 20071212-IR-052060571FRA)