I hear it every day, "How can my property taxes be going up when my home price has dropped 20% in the last year?"
Well....you have to protest your property tax because the government usually likes their assessments and they aren't going to do anything unless you are a squeeky wheel.
But, what I have also found is that clients have no idea how to proceed, nor do they have the time or expertise to do what is needed to successfully protest their taxes.
So, I have started a new niche business within my real estate practice for those who live in the Hennepin County area....here was the press release that was distributed last week:
Gopherhomes.com Announces Launch of New Residential Property Tax Consulting Business for Twin Cities Homeowners
Minneapolis Realtor launches Property Tax Consulting services to Minneapolis and Twin Cities Homeowners that have seen large drops in value to their homes.
Minneapolis, MN, February 12, 2009 --(PR.com)-- New Service Aimed at Helping Homeowners Reduce Their Property Taxes in the Current Marketplace.
With home prices down over 20% in many areas of the Twin Cities, property taxes haven't followed the trend.
"People are realizing that their property taxes aren't going to be reduced unless they step up, roll up their sleeves, and do the work themselves," stated Steve Jecha, a Realtor with Coldwell Banker Burnet and the Founder of Gopherhomes.com (www.gopherhomes.com). "There are many areas of the Twin Cities and Hennepin County where a homes Fair Market Value in today's market is substantially less than the Counties Estimated Market Value."
Homes for sale from Minneapolis to Maple Grove have plummeted over the past two to three years, and those homeowners who purchased their homes ‘at the peak' of the Twin Cities real estate market now may have an over appraised market value.
For years, property tax appeals have been commonplace in the Commercial Real Estate marketplace. With the declining residential real estate market, there is a large opportunity for homeowners to take advantage of the appeal process.
Gopherhomes.com charges a one-time $195 fee which provides homeowners with a comprehensive market valuation package that includes everything they need to appeal their market value with their local appraiser. For homeowners that do not want to do the work, or are intimidated by the process, Gopherhomes.com will handle the appeal process on a contingency basis - if they win, they get paid.
"There are homes all over the Twin Cities that are over appraised by $100's of thousands." Jecha continued, "Homeowners can call us at 952-924-6254 for a free conversation and review regarding their property and whether it is worth pursuing an appeal."
Call me or email me with questions regarding this service and how I can help you.