Ownwell Evaluate: 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 in case you 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 an enormous chew out of your finances.

As a property proprietor, you may have the correct to enchantment the assessed worth of your private home, which can assist you decrease your property taxes. However the time-consuming course of forces householders to leap by means of many hoops. That’s the place Ownwell is available in to barter for you and enable you to save in your property tax invoice.

We discover how Ownwell works so you possibly can resolve if it’s a very good match on 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 consultants supported by expertise to assist householders 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 residence on which your property taxes are primarily based. 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 you need to overpay. When the tax workplace assesses the worth of your private home, that may straight affect how a lot you’ll pay in property taxes that yr.

The excellent news for property homeowners is that you’ve the correct 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.

Whenever 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 Advisor is an area professional accountable 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 share of the financial savings because the charge to Ownwell. 

Here is what it seems like once you enter your tackle:

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

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

The most important draw back of Ownwell is that it’s not obtainable in all places. The corporate presently 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 because of insurance policies like Prop 13, which cap your property tax charges.

Whenever 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’ll 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.

In case you are 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 would undergo the paperwork your self. However in case you don’t have the time or power to decide to the method, it may very well be value parting with 25% of the financial savings. And keep in mind, if they do not prevent something, you do not pay something!

Another choice is to rent an area property tax legal professional. Relying on the state of affairs, these professionals would possibly have the option that will help you by means of the appeals course of. However you need to count on extra upfront prices with this selection. And you may doubtless pay for this service whether or not or not you lower your expenses.

Lastly, you possibly can all the time do it your self. This might require filling out particular kinds, understanding what your property worth is, after which working with the county on any hearings. 

In keeping with Ownwell, the signup course of takes lower than three minutes. Begin by coming into your tackle and answering some fundamental questions on your property. You’ll additionally have to add a duplicate of your property tax invoice. Ownwell will take over from there.

Ownwell protects your private info by means of “a system of organizational and technical safety measures.” Sadly, the privateness coverage is a bit obscure on how they shield your info. However many of the info they require is publicly obtainable by means of 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 possibly can 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

In case you are a property proprietor, Ownwell might enable you to save in your property taxes. It’s an particularly good service in case you’ve not too long ago seen a spike within the assessed worth of your private home. However because you don’t should pay an upfront charge, those that stay throughout the firm’s service space might discover a number of worth by means of Ownwell.

I’d like to make use of Ownwell for my major residence. Sadly, it’s not obtainable in my space. But when it’s an choice for you, take into account in search of financial savings with Ownwell in the present day.