AR SB530

Requires parties in commercial and industrial property tax appeals before county equalization boards to disclose at least 5 days before hearing whether comparable properties used as evidence were occupied or unoccupied at time of transaction.

Requires disclosure of whether comparable properties had use, deed, or lease restrictions at time of transaction that prohibited the building or structure from being used for its designed purpose.

Mandates county assessor advise the equalization board that failure to disclose required information constitutes a material omission affecting the weight of evidence.

Applies the same disclosure requirements to appeals of county equalization board decisions to county courts, with courts required to consider all evidence when determining if comparable properties are similarly situated.

Prohibits ex parte communications between county equalization board members or between board members and other persons concerning property appeals, except communications with board attorneys and secretaries for scheduling purposes.

Becomes effective July 1, 2019 under emergency clause to allow parties time to prepare for county equalization board meetings beginning August 1.