A Hot Emerging Home Base Business – Process Property Tax Appeals!
Engaging in a property tax appeal for a client can earn you money. Real estate property taxes are sky high and are not going to go away. When you find areas to contest in the property assessment you and your client win. You’ll save your client thousands and you’ll earn thousands in contingency fees.
A home base business that specializes in homeowner property tax reduction is one of the few businesses that will proper in good times and even better in bad times. And when assessments are out of whack, appeal that property tax!
Winning property tax appeals for a client is not difficult and you are rewarded by a large contingency fee. If you save them $2,500 in property taxes your fee will be $2,500 spread over 2 or 3 years. That way the client sees a positive savings from your service. It’s a win, win situation.
Government statistics show the state and local government hiring has accelerated in the last 12 months. Meanwhile private firms have slashing staff. Despite the economic slowdown the public-sector jobs gains have actually sped up. Increased property taxes will likely pay the price.
State and local governments are in a budget crisis. You would know it when you looked at the payrolls. 338,000 new jobs have been created in the past 12 months. That’s far more than the 195,000 jobs in the 12 prior months. Result: many disgruntled taxpaying homeowners.
When real estate prices tumble finding comparable properties that sold for less than the assessed value of your client?s house is rather easy. Information resources are full of them.
Look to The National Taxpayers Union for an idea how much opportunity exists for the Property Tax Consultant. They write that as many as 60% of all homeowners are over-assessed and not in line with their home value. (“How To Fight Property Taxes” 2004 p.1
What you need to do in this business is finding the value of residential real estate by comparing your client?s property with similar sold properties. You’ll look for comparable sales or properties in similar neighborhoods.
It’s a good idea to cooperate with the tax assessor. It makes no difference what the tax assessor finds. What counts is market value. The way to reduce your clients property tax is through comparing recently sold homes.
With recent decreases and abundance in lower-priced comparable home, the business of real estate property tax consulting is a very lucrative home base business proposition indeed! The entry costs are low, the profit potential great.
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