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 value. Even when you 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 chunk out of your price range.

As a property proprietor, you’ve got the suitable to enchantment the assessed worth of your property, which will help 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 save in your property tax invoice.

We discover how Ownwell works so you may determine if it’s a very good match in your scenario.

Ownwell is an Austin-based firm that works with property homeowners to decrease their property taxes. The corporate makes use of a group of specialists supported by know-how 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 charge and anticipate 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 it’s best to overpay. When the tax workplace assesses the worth of your property, 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 got the suitable to enchantment 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.

If 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 scenario, 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 seems to be like while you enter your tackle:

As of writing, Ownwell says that single-family householders 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 would save varies from place to put.

It’s price noting that property homeowners in Washington and Georgia may see their taxable worth enhance after a evaluation, which might result in extra property taxes. But when Ownwell sees that as a threat, they are going to forgo submitting your enchantment.

The largest draw back of Ownwell is that it’s not obtainable in every single place. 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.

If 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’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 alternative. It’s true that you would undergo the paperwork your self. However when you don’t have the time or vitality to decide to the method, it might be price 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 scenario, these professionals would possibly give you the option that can assist you by means of the appeals course of. However it’s best to anticipate extra upfront prices with this selection. And you may doubtless pay for this service whether or not or not you get monetary savings.

Lastly, you may all the time 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 keeping with Ownwell, the signup course of takes lower than three minutes. Begin by getting into your tackle and answering some fundamental 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 means 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 obtainable by means 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 may name their assist group. 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 may enable you save in your property taxes. It’s an particularly good service when you’ve lately seen a spike within the assessed worth of your property. However because you don’t need to pay an upfront charge, those that stay throughout the firm’s service space may discover numerous 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 possibility for you, take into account looking for financial savings with Ownwell right now.