Tuesday, December 30, 2008

Terrific Home Base Business - Property Tax Consulting!

By Laura K. Marvalusa

Property taxes are going through the ceiling. 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 easy proposition to sell making this one of the best home based business opportunities hardly anyone knows of.

In good times or bad times, this home base business will prosper. Not many businesses have that guarantee. There are a huge number of mistakes in property taxes. When the assessment of a client is wrong, you simply go through the process appealing it.

Winning property tax appeals for a client is not difficult and you are rewarded by a large contingency fee. If you save them $2,500 in property taxes your fee will be $2,500 spread over 2 or 3 years. That way the client sees a positive savings from your service. It's a win, win situation.

In almost every state, local and regional government hiring and spending is accelerating. On the other side, private business has been cutting overhead expenditures to survive. Property tax increases pay for government excess.

A budget crisis is developing in many state and local governments. Looking at the state government payrolls nationwide 338,000 new jobs have been created in the past 12 months. Result: many angry 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.

Giving a quick look to The National Taxpayers Union statistics and you see where they write 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. - 15246

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