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 when you repay your mortgage, you’ll nonetheless be on the hook for property taxes. Sadly, an unfair evaluation might push your property tax prices greater and take a giant chew out of your price range.

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

We discover how Ownwell works so you’ll be able to determine if it’s a great 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 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 price and count on 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 you must overpay. When the tax workplace assesses the worth of your house, that may immediately affect how a lot you’ll pay in property taxes that yr.

The excellent news for property homeowners is that you’ve got the fitting to enchantment 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 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. 

This is what it appears to be like like whenever you enter your handle:

As of writing, Ownwell says that single-family owners save a mean 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, after all, the quantity you possibly can save varies from place to position.

It’s price noting that property homeowners in Washington and Georgia might see their taxable worth improve after a overview, which might result in extra property taxes. But when Ownwell sees that as a threat, they are going to 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 as a consequence of insurance policies like Prop 13, which cap your property tax charges.

While 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 can take 25% to 35% of these financial savings.

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

In case you are searching for a streamlined property tax discount service with none upfront price, Ownwell is a top-tier selection. It’s true that you possibly can undergo the paperwork your self. However when you don’t have the time or power to decide to the method, it could possibly be price 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 a neighborhood property tax legal professional. Relying on the state of affairs, these professionals would possibly have the ability that will help you by way of the appeals course of. However you must count on extra upfront prices with this feature. And you will seemingly pay for this service whether or not or not you get monetary savings.

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

In line with 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 have to add a replica 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 obscure on how they defend your data. However a lot of the data they require is publicly out there 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’ll be able to 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 save in your property taxes. It’s an particularly good service when you’ve just lately seen a spike within the assessed worth of your house. However because you don’t should pay an upfront charge, those that stay inside the firm’s service space might 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 out there in my space. But when it’s an choice for you, take into account in search of financial savings with Ownwell right now.