How can you help me lower my property taxes?
If we believe we can effectively argue that your property tax assessment is excessive, we will file a professional tax protest to reduce your property's tax assessed value. Reducing your tax assessed value lowers the amount of property taxes you must pay.
If DropertyTax.com files a tax protest for me and is unsuccessful, what happens?
You owe us nothing. Your tax liability will likely be unchanged. We can appeal if we feel very strongly or we can try again next year.
Can I see a sample protest?
Yes, please contact us and we will be glad to provide you with a sample of our work.
What are your qualifications?
Jason Rich has been helping property owners lower their property taxes since 2009. He has also helped clients buy, sell, and invest in several different types of property. A graduate in Finance and Business Management from Tulane University in 2008, and a former Real Estate Agent in Nebraska, Jason understands how to value property and can effectively demonstrate that value in a concise, detailed report.
What is included in a tax protest?
The following is a partial list of items considered to be included in a tax protest package: table of contents, pictures of the property, aerial maps showing properties of interest, comparable sales, comparable lease rates, actual property operating numbers, purchase agreements, letters of intent, other similar property's operating numbers, other comparable property's tax assessed values, rent rolls, pro forma valuation based on income, replacement cost assessments, appraisal(s), justification for capitalization (CAP) rate, broker's opinion of value and always, the official tax protest form.
On what basis can I protest the tax assessed value of my property?
In most places, you can protest your property's tax assessed value based on either a market value basis, an equalization basis, or both. A market basis protest must establish the case that the subject property could not be sold for what the property's tax assessed value is. An equalization based protest must make the case that the subject property is assessed higher than it should be when compared to other similar properties in the area. The strongest protests can make an argument that factually establishes both market value and equalization basis for the subject property.
How does the county determine the amount of property taxes I pay?
In most counties, the actual dollar amount of property taxes a property owner must pay is determined by two main factors: 1) the specific property's tax assessed value and 2) the mill levy. Simply take the property's tax assessed value times the mill levy and you will get your property tax liability before any credits or exemptions. For example, if you own a property which has the following characteristics: $1,000,000 tax assessed value and a 2% mill levy, you would owe $20,000 annually in property taxes ($1,000,000*.02). Different areas of the county have different mill levies based on the school district, whether the property is located in an SID, etc.
When can property taxes be protested?
It varies from place to place. There is usually a 1-2 month window in which to turn in reports.
Why is there a limited time period when property taxes can be protested?
Due to the necessary rigidities of the system, there is a limited time period to protest a property's assessed value. The system works as follows: First, the assessor establishes the property's value. Your property's value is what can be protested. Once all the tax assessed values are established, including most of the protested parcels, the assessor reports the total assessed value of all real estate in a county. Next, this information is passed to the county treasurer and state property tax administrator who is in charge of creating a mill levy. The mill levy is determined by taking the anticipated budget (i.e. expenditures) for the upcoming year, which is provided by property tax revenues, and dividing it by the total amount of the property assessed value in the county. The treasurer receives the money needed regardless. The only thing that changes is each owner's burden, or how big each piece of the pie is.
How often are you successful?
We are successful about 75% of the time.
How much do you charge to protest my property's taxes?
If we are unsuccessful in lowering your property taxes, you owe us nothing. If we are successful, we charge half (50%) of the actual amount of property taxes saved in the first year only. This is based on the previous year's mill levy. Example: Your property tax assessed value is reduced from $1,000,000 to $800,000 as a result of our professional property valuation protest and your mill levy is 2%. Your reduction results in $4,000 saved. Your bill would be as follows: (tax assessment reduction * mill levy in previous year * 50%)$200,000 * 2% * 50% = $2,000. During year one, you realize a savings of $2,000. You enjoy savings of $4,000 every year into the future (assuming tax assessed value and mill levy stay the same).
I don't want you to file a report for me. Can you still help me find the necessary forms and answer any basic questions I have?
Yes!! Please don't hesitate to contact us. We want to make sure you don't overpay.
I have more questions or seek more information. Can I contact you?
Absolutely! Please contact us and we will respond shortly.