Ownwell Evaluation: 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 should you repay your mortgage, you’ll nonetheless be on the hook for property taxes. Sadly, an unfair evaluation may push your property tax prices larger and take an enormous chew out of your finances.

As a property proprietor, you’ve got the precise to attraction the assessed worth of your private home, which may help you decrease your property taxes. However the time-consuming course of forces householders to leap by way 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 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 crew of consultants supported by know-how to assist householders 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 house on which your property taxes are primarily based. You solely pay if the attraction is profitable.

They are saying they’ve an 86% success charge and anticipate to do between 400,000 and 500,000 appeals in 2024, with the typical 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 impression how a lot you’ll pay in property taxes that yr.

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 could be a tedious and time-consuming course of. Ownwell provides to take over the appeals course of for you.

Once 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 Guide is an area skilled answerable for your case. Relying on the state of affairs, 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 payment to Ownwell. 

Here is what it appears to be like like once you enter your deal with:

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 consumers see a discount of their property tax invoice. However, after all, the quantity you possibly can save varies from place to position.

It’s value noting that property homeowners in Washington and Georgia may see their taxable worth improve after a evaluate, 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 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 as a result of insurance policies like Prop 13, which cap your property tax charges.

Once you work with Ownwell, you received’t encounter any upfront charges. If the corporate can’t prevent cash, you received’t pay something. But when the corporate does prevent cash, it should 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 price, Ownwell is a top-tier alternative. It’s true that you possibly can undergo the paperwork your self. However should you 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 keep in mind, if they do not prevent something, you do not pay something!

An alternative choice is to rent an area property tax legal professional. Relying on the state of affairs, these professionals would possibly have the opportunity that will help you by way of the appeals course of. However it’s best to anticipate extra upfront prices with this feature. And you will doubtless 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. 

Based on Ownwell, the signup course of takes lower than three minutes. Begin by getting into your deal with 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 data by way of “a system of organizational and technical safety measures.” Sadly, the privateness coverage is a bit imprecise on how they shield your data. However a lot of the data they require is publicly obtainable by way of your tax assessor’s workplace, so they do not have entry to a lot most people already cannot see.

If you wish to get in contact with Ownwell, you possibly can name their assist crew. 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 should you’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 payment, those that stay inside the firm’s service space may discover quite a lot of worth by way 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, take into account in search of financial savings with Ownwell at the moment.