Ownwell Overview: 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 may push your property tax prices increased and take an enormous chew out of your price range.

As a property proprietor, you’ve gotten the proper to enchantment the assessed worth of your own home, which can assist you decrease your property taxes. However the time-consuming course of forces owners to leap by many hoops. That’s the place Ownwell is available in to barter for you and assist you to save in your property tax invoice.

We discover how Ownwell works so you’ll be able to resolve if it’s a very good match to your scenario.

Ownwell is an Austin-based firm that works with property homeowners to decrease their property taxes. The corporate makes use of a workforce of specialists supported by know-how 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 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 price 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 value. However that doesn’t imply you must overpay. When the tax workplace assesses the worth of your own home, that may straight influence how a lot you’ll pay in property taxes that 12 months.

The excellent news for property homeowners is that you’ve got the proper to enchantment your evaluation. The unhealthy information is that doing so by yourself is usually a tedious and time-consuming course of. Ownwell affords to take over the appeals course of for you.

Whenever 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 professional answerable for your case. Relying on the scenario, Ownwell may 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 proportion of the financial savings because the charge to Ownwell. 

This is what it seems to be like once you enter your tackle:

As of writing, Ownwell says that single-family owners save a mean of $1,148 per 12 months 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 may save varies from place to position.

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

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

Whenever you work with Ownwell, you gained’t encounter any upfront charges. If the corporate can’t prevent cash, you gained’t pay something. But when the corporate does prevent cash, it is going to 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 searching for a streamlined property tax discount service with none upfront value, Ownwell is a top-tier alternative. It’s true that you may 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!

Another choice is to rent an area property tax legal professional. Relying on the scenario, these professionals may have the ability that will help you by the appeals course of. However you must anticipate extra upfront prices with this selection. And you will possible pay for this service whether or not or not you get monetary savings.

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

In accordance with Ownwell, the signup course of takes lower than three minutes. Begin by coming into your tackle and answering some fundamental questions on your property. You’ll additionally must add a replica of your property tax invoice. Ownwell will take over from there.

Ownwell protects your private data by “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 your tax assessor’s workplace, so they do not have entry to a lot most of the people already cannot see.

If you wish to get in contact with Ownwell, you’ll be able to name their assist workforce. 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 assist you to save in your property taxes. It’s an particularly good service when you’ve lately seen a spike within the assessed worth of your own home. However because you don’t must pay an upfront charge, those that stay inside the firm’s service space may discover numerous worth by 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 choice for you, think about searching for financial savings with Ownwell right this moment.