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Business Idea - Property Tax Consulting
Dec 15, 2008 Make Money At Home
Most people see great disparities in property taxes and helping home owners lower their property taxes can be an excellent if not the best home based business idea. Homeowners should not be paying higher assessments than the actual market value of their property.
Many families can use someone to look over their shoulders when it comes to their property taxes. Few have the knowledge or time to figure out if they are overpaying their tax assessment. Many errors exist, especially with comparable home prices decelerating. This business opportunity is a legitimate home business opportunity. As a property tax consultant, you help people with their taxes.
Property tax consulting is worked on a contingency basis. In other words, you do not charge a fee for your services unless you achieve a property tax reduction for that person other than a small processing fee.
If you win the assessment appeal, the client rewards you with a portion of the property tax reduction. It doesn’t cost the homeowner anything unless you work a win for them … and it is relatively simple to win.
The amount of savings you reduce the homeowner’s property taxes by is your fee. For instance, if the property taxes were $9,000 and you saved the client 22% on their assessment, your fee would be $1,980. Generally you structure the payment due over a 2 or 3 year period.
Home prices are falling and it is not hard and relatively effortless to find recently sold homes that sold for less than what your client home was assessed for. The best way to win an appeal is to collect data on values of similar properties and you only need to make the property presentation and include supporting evidence to make your case stick.
Charge a small one-time fee to help offset your overhead costs. When you are starting out, this is helpful. You’ll want to cherry pick the more expensive homes and those cases you feel you have the best chances to win.
Just about everyone wants to save money on their property taxes. It is a very easy service to market. With shrinking real estate values giving government less tax receipts, local government if forced to raise the tax rate to fill their coffers and meet expenses. Customers who want to appeal their property taxes is easy and will never be hard to find.
About the Author:
Before looking into just any business idea, check out and inspect probably the best home based business around. Property tax consulting is about finding discrepancies in property values and challenging false assessments. Since the challenging evidence falls on the individual homeowner, few have the time or the know-how to dispute their property taxes effectively.
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