Aiding taxpayers|Helping homeowners lower their tax assessments as a part-time business idea can be a good if not the best home based business opportunity for many. A lot of people are struggling to keep up with property tax increases. Bankruptcies are being filed and people are losing their houses. People shouldn't be paying taxes higher than what their properties are worth.
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 taxes. Many errors exist, especially with comparable home prices decelerating. This home business is a legitimate home business opportunity. As a property tax consultant, you help people with their taxes.
A property tax consultant works on a contingency. This means that the service does not cost the customer homeowner any money (other than a small process fee) unless you achieve a property tax reduction for them.
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.
Whatever amount you save the homeowner that is your fee. You spread your fee over 2 or 3 years period of time. If you clients property taxes were $8,000 and you saved them 25% on their assessment, you fee would be $2,000.
In this climate of falling home prices, finding comparable sold homes that sold for less value than the assessment price placed on your clients home are effortless to find. The time is opportune for this work from home business. Upon finding good comparable sold home and with using a good property tax appeal manual, you should be able to get a reduced assessment and pay less property tax on your client's home.
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.
It's hard to find someone who doesn't care about their property taxes. A lot are disturbed over it. And finding clients, especially in today's financial environment, is relatively effortless. When real estate values become lower, governments raise the tax rate to meet their budget.
Business Personal Property Tax
Engaging in a property tax appeal for clients can earn you loads 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 arena, you and your client win. You'll save your client thousands and you'll earn thousands in contingency fees. This is one of the best home based business opportunities that most have not heard of.
A home base business that hones 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, you appeal that property tax!
When you win a property tax appeal you get paid a contingency fee from the client. If you save your client $1,800 you get paid those savings in contingency fees. Generally you spread your fee over 2 or 3 years so the homeowner sees some of the money you saved for them. For everyone, it's a win, win situation.
Nationwide, local and state government statistics show increased hiring's and spending. Government spending is on a upward spiral with little in the way of brakes while private firms are focused on reducing overhead expenses and operating more efficiently to survive. How is government excess paid for? Property tax increases.
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.
With the fall in real estate prices, it pays to scan the horizon to see if a potential clients home valuation compares to the assessed price the tax assessor placed on it. All one needs to do compare recently sold homes.
The National Taxpayers Union writes 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 that sold for less than your clients assessment breakdown.
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.
Considering the over abundance of lower market priced comparable home, property tax consulting is an extremely high paying, easy sell business proposition. The cost to get into this home base business is low and the potential profits high.
Both Matt Piascik & Margaret G. Serve are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Matt Piascik has sinced written about articles on various topics from Property Tax. Before you consider just any business idea, consider Property Tax Consulting. The times are right for this type of business which many might consider the
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