Real estate tax assessments are made in a way that leaves big holes in accuracy. Finding areas that reduce assessments allow for thousands of dollars in savings. The chances for finding areas to adjust is quite high. The National Taxpayers Union states that as many as 60% of all homeowners are over-assessed.
When you're in the property tax consulting business, you're a detective. By discovering homes that sold for less than the assessed value or your client and challenging those false values you make wrong right. Most homeowners don't have the time or knowledge to challenge their real estate property taxes. The homeowner needs a property tax consultant and this presents a great work at home opportunity.
Just about any homeowner or property manager can use the service and is a candidate for the service. Just about every homeowner will want to sign up. A few basic forms proving the reduced market value and follow up will pave your way to earning an amazing income.
The property tax consulting business is similar to that of accountants, appraisers, financial planners, doctors and lawyers in that a broad base of clients will bring you more business than you can handle. Just about everyone wants to save money on their property taxes.
If you win a $1,900 tax reduction your contingency fee is normally equal to the tax win. The way to set up your contract is to spread commission over a 2 or 3 year period. Also a small upfront fee can be charged for a basic analysis.
Something seems to have happened to the mind set of state and local governments. They are on a continuous spending binge. Recent national figures show higher payroll figures and larger budgets. This means continuous aggravation to the homeowner taxpayer by passing on large tax increases and makes for an easy selling proposition.
About every 7 to 15 years a town will do a blanket reassessment for the real estate values within their jurisdiction. This mass appraisal is done to line up dollar values with the current market.
The town will not hire an appraiser to do the job of individually assessing the value of a home. It would be too expensive. Mass appraisals are bid on and the lowest bid wins. Usually a walk around and look see is all that takes place in this type of blanket appraisal.
The appraisal done by a blanket appraiser needs a hard look. Observations are recorded on a property record card. Sometimes only a drive by occurs where notes are taken if the property has changed since the last mass appraisal. Ask yourself how much scrutiny can be given to a property when the low bidder needs to make a profit on top of his $15 per home winning bid. Also, the information gathering personal hired may have questionable observation skills.
Help is sorely needed to check up on the mass appraisers judgment. Also recent changes in market conditions need to be accounted for. Since homeowners don't know how and are too stressed time wise to make a property tax appeal they welcome someone to help them with their property taxes.
Government probably will not tighten up their budgets by any large extent and higher taxes will be the norm. This work at home opportunity can be your goldmine.
