Ownwell Assessment: Decrease Your Property Taxes

Ownwell is a service that helps you enchantment and decrease your property taxes.

The price of proudly owning a property goes far past the acquisition worth. Even if you happen to repay your mortgage, you’ll nonetheless be on the hook for property taxes. Sadly, an unfair evaluation might push your property tax prices larger and take a giant chew out of your price range.

As a property proprietor, you may have the fitting to enchantment the assessed worth of your private home, which might help you decrease your property taxes. However the time-consuming course of forces owners to leap by many hoops. That’s the place Ownwell is available in to barter for you and make it easier to save in your property tax invoice.

We discover how Ownwell works so you may resolve if it’s a very good match in your state of affairs.

Ownwell is an Austin-based firm that works with property homeowners to decrease their property taxes. The corporate makes use of a staff of specialists supported by expertise to assist owners efficiently enchantment unfair assessments.

Whereas being a comparatively new firm, they did over 170,000 property tax appeals in 2023.

Ownwell will enchantment the valuation of you house on which your property taxes are based mostly. You solely pay if the enchantment is profitable.

They are saying they’ve an 86% success fee and count on to do between 400,000 and 500,000 appeals in 2024, with the common buyer saving over $1,100. 

Property taxes are an unavoidable price. However that doesn’t imply it’s best to overpay. When the tax workplace assesses the worth of your private home, that may immediately influence how a lot you’ll pay in property taxes that yr.

The excellent news for property homeowners is that you’ve the fitting to enchantment your evaluation. The dangerous information is that doing so by yourself generally is a tedious and time-consuming course of. Ownwell presents to take over the appeals course of for you.

If you work with Ownwell, the method works by offering the corporate with particulars like a picture of your property tax invoice. From there, Ownwell will make a case for you and submit it to the suitable tax physique. All through the method, a devoted Property Tax Marketing consultant is a neighborhood knowledgeable answerable for your case. Relying on the state of affairs, Ownwell would possibly meet with the county assessors or attend enchantment board hearings.

In the event that they’re profitable, you’ll get notified about your financial savings and pay a proportion of the financial savings because the charge to Ownwell. 

This is what it seems like while you enter your handle:

As of writing, Ownwell says that single-family owners save a median of $1,148 per yr when working with Ownwell. Additionally, the corporate claims that over 85% of consumers see a discount of their property tax invoice. However, in fact, the quantity you possibly can save varies from place to put.

It’s value noting that property homeowners in Washington and Georgia might see their taxable worth enhance after a overview, which might result in extra property taxes. But when Ownwell sees that as a danger, they’ll forgo submitting your enchantment.

The most important draw back of Ownwell is that it’s not out there all over the place. The corporate at present operates in Texas, California, Washington, Georgia, Florida, Illinois, and New York.

Moreover, even in locations like California, there’s solely a restricted quantity of choices resulting from insurance policies like Prop 13, which cap your property tax charges.

If you work with Ownwell, you gained’t encounter any upfront charges. If the corporate can’t prevent cash, you gained’t pay something. But when the corporate does prevent cash, it would take 25% to 35% of these financial savings.

For instance, let’s say Ownwell saves you $1,000 in your property taxes. You’ll pay them $250 to $350 for his or her service.

If you’re on the lookout for a streamlined property tax discount service with none upfront price, Ownwell is a top-tier alternative. It’s true that you possibly can undergo the paperwork your self. However if you happen to don’t have the time or vitality to decide to the method, it could possibly be value parting with 25% of the financial savings. And bear in mind, if they do not prevent something, you do not pay something!

Another choice is to rent a neighborhood property tax lawyer. Relying on the state of affairs, these professionals would possibly have the ability that will help you by the appeals course of. However it’s best to count on extra upfront prices with this selection. And you will seemingly pay for this service whether or not or not you lower your expenses.

Lastly, you may at all times do it your self. This could require filling out particular varieties, understanding what your property worth is, after which working with the county on any hearings. 

Based on Ownwell, the signup course of takes lower than three minutes. Begin by coming into your handle and answering some primary questions on your property. You’ll additionally must add a duplicate of your property tax invoice. Ownwell will take over from there.

Ownwell protects your private info by “a system of organizational and technical safety measures.” Sadly, the privateness coverage is a bit imprecise on how they shield your info. However a lot of the info they require is publicly out there by your tax assessor’s workplace, so they do not have entry to a lot most of the people already cannot see.

If you wish to get in contact with Ownwell, you may name their assist staff. Right here’s the numbers for every state they work in:

• California: 310-421-0191
• Georgia: 678-890-0767
• New York: 516-518-3334
• Washington: 206-395-8382
• Florida: 305-901-2905
• Illinois: 312-500-3131
• Texas: 512-886-2282

If you’re a property proprietor, Ownwell might make it easier to save in your property taxes. It’s an particularly good service if you happen to’ve not too long ago seen a spike within the assessed worth of your private home. However because you don’t need to pay an upfront charge, those that reside inside the firm’s service space might discover plenty of worth by Ownwell.

I’d like to make use of Ownwell for my major residence. Sadly, it’s not out there in my space. But when it’s an possibility for you, take into account looking for financial savings with Ownwell right now.