Thursday, December 25, 2008

Real Home Base Business - Process Property Tax Appeals!

By Donna Feduchadrammer

Property taxes are going through the roof. On the other hand, comparing quality of assessments results in loopholes that allow for huge property tax reductions. This results in thousands of dollars of potential savings to homeowners. And, it's a basic need proposition to sell making this one of the best home based business opportunities hardly anyone knows of.

Processing property tax appeals for clients is a recession proof business. No matter what the economic conditions there are always an abundant number of property taxes that are in error.

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 tear 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 facing a mismanaged budget crisis. Large numbers of new jobs have been created in government. Result: many frustrated taxpaying homeowners.

With real estate prices falling, it is easy to find homes that sold for less than your potential clients assessed value. The real estate "sold" listings show an abundance of low-priced comparable 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

Real estate is estimated by comparing your client's property with similar sold properties. You'll look in neighborhoods that share similar characteristics of client's house and find sold homes that make your client's home compare for a lesser value.

Cooperate with the tax assessor since it makes no difference what the tax assessor finds. What counts is market value you determine by comparing recently sold home.

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. - 16036

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