Residential property values take a big jump and that might alert you to perhaps consider a property tax appeal. The latest assessment values for both residential and commercial real estate properties may, likewise, have accelerated.
Commercial Property Tax Appeal
This condition is a huge call to action for present and future property tax consultants, especially for commercial businesses. Unlike residential real estate, commercial business is valued on an Income Basis.
We see continuing inflation, many wage earners will be spending less of their earnings on goods and services. Marginal businesses will suffer less earnings, however, their cost of doing business is increasing.
With oil prices rising, and commodity prices rising, you have no choice. Basically, everything runs on energy. Wind and solar are ill-prepared for consistency and cannot fill that vacuum. The cost of doing business will continue to rise given the politics of unrealism.
Many businesses will be eligible to lower their property taxes which can mean a bonanza of earnings for a property tax consultant. For instance, a business, using the Income Method, is assessed and taxed at $200,000. You’ll be working on a contingency commission to charge to the business owner.
As a property tax consultant working with that business’s accountant, you discover that their property tax assessment should be $100,000. At a low 35% (minimal considering what others charge) contingency commission, you’ve earned $35 grand.
Countless businesses did not take advantage of appealing an unjustified property tax assessment. If nothing is appealed, nothing happens. Tax assessors are not going to go out of their way to lower anyone’s property tax.
This course addresses both the residential and the highly lucrative commercial business property tax sectors. Learn More Here: Home Valuation
Residential Real Estate Property Tax Appeal
New home sales rebounded reaching a seasonally adjusted annual rate of 696,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. The median sales price of a new home sold in May was $449,000. The average sales price was $511,400.
While house values are all up sharply compared to a year ago, the change varies in different communities since we are comparing the sales of similar prices properties. Therefore, property tax assessments are based on a mass property tax municipal assessment for a community. That assessment might be 8 years ago or more than 20 years in the past.
Unless one does their due diligence by applying some 5-grade math and comparisons, a homeowner will not know if they are over-assessed. Many are.
Experts tell us that 40 to 60% are over-assessed. A property tax consultant helps victims lower their property tax.
The Formula: Property Tax Appeal Training Courses
Any property owner who believes the assessor has over-valued their property to the property tax assessor as well as appeal to the Board of Equalization. Learn More Below:
- Free access to Comparative Sold Homes using sources with similar square footage near your home.
- Home Valuation Categories that will highlight differences with comparable houses that you can adjust valuations against.
- Mind Map overview for a winning property tax appeal.
Click on this link immediately to receive your complimentary Property Tax Appeal Starter Kit without delay.
To access these 3 free resources, Click the above link.
