Ownwell Assessment: Decrease Your Property Taxes

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

The price of proudly owning a property goes far past the acquisition value. Even for those who repay your mortgage, you’ll nonetheless be on the hook for property taxes. Sadly, an unfair evaluation may push your property tax prices increased and take an enormous chew out of your price range.

As a property proprietor, you could have the precise to attraction the assessed worth of your private home, which may also help you decrease your property taxes. However the time-consuming course of forces owners 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 superb match to your scenario.

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 owners efficiently attraction unfair assessments.

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

Ownwell will attraction the valuation of you dwelling on which your property taxes are primarily based. You solely pay if the attraction 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 value. However that doesn’t imply you must overpay. When the tax workplace assesses the worth of your private home, that may straight influence how a lot you’ll pay in property taxes that 12 months.

The excellent news for property homeowners is that you’ve the precise to attraction your evaluation. The unhealthy 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.

While 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 a neighborhood knowledgeable answerable for your case. Relying on the scenario, Ownwell would possibly meet with the county assessors or attend attraction 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 price to Ownwell. 

This is what it appears to be like like while you enter your tackle:

As of writing, Ownwell says that single-family owners save a mean of $1,148 per 12 months 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 possibly can save varies from place to put.

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

The largest draw back of Ownwell is that it’s not obtainable in all places. The corporate at the moment 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.

While 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 is going to 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 in search of a streamlined property tax discount service with none upfront value, Ownwell is a top-tier alternative. It’s true that you possibly can undergo the paperwork your self. However for those who don’t have the time or power 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 scenario, these professionals would possibly find a way that will help you by means of the appeals course of. However you must count on extra upfront prices with this selection. And you may possible pay for this service whether or not or not you get monetary savings.

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

In accordance with Ownwell, the signup course of takes lower than three minutes. Begin by coming into your tackle and answering some primary questions on your property. You’ll additionally must add a replica 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 imprecise 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

If you’re a property proprietor, Ownwell may enable you to save in your property taxes. It’s an particularly good service for those who’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 price, those that reside inside the firm’s service space may discover a number of worth by means of Ownwell.

I’d like to make use of Ownwell for my main residence. Sadly, it’s not obtainable in my space. But when it’s an choice for you, contemplate searching for financial savings with Ownwell at the moment.