The Property Tax Appeal Business is a relatively new income opportunity. Add it to the tons of other ways to make money in the real estate industry:
Real estate agents, brokers, title companies, property inspectors, property appraisers, mortgage brokers, property managers, investors that fix and flip, REIT investors, and so much more.
But different from these many other positions and businesses, the property tax appeal business is a non-licensed service which is most effectively carried out in 4-6 months of the year. It can be a great home business for extra income for one person, or a small team venture.
One business opportunity that can be a great home business for an individual or small team is the property tax appeal business. With relatively little competition, and a massive potential client base... there's a ton of potential for success.
Property tax appeal professionals offer the service of helping property owners (whether owner-occupied, rental property or commercial) to lower their tax bill. They research plan out which valid challenges can be applied in the appeal process successfully. They do the leg work for the owner, and when they win... they can save their clients lots of money!
The vast majority of homeowners don't pay much attention to their property tax bill, because it's wrapped inside of their monthly mortgage payments. Most also don't realize that a lot of money can be saved each month and each year, if they successfully appealed their property tax assessment and got their tax bill reduced.
Local government property appraisers do apply specific formulas to assess market values to each property. However, their information on each property is very limited. This means a blanket formula used, followed by general increases year to year as they assess the market values to be rising in general. However, there are MANY other factors that CAN be applied and used to successfully challenge that market value amount.
As more people learn that they can successfully appeal and win a tax assessment reduction, there is more need for tax appeal professionals to help.
Property tax appeal businesses are in demand in many areas, and have little competition.
And they can be very rewarding, because when you're successful, you're saving your clients
There is no licensing requirements for tax appeals. This could also be great additional income for real estate professionals.
For those that already know how to research market values, appealing tax bills could be an easy extension of knowledge and experience you already have.