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Ownwell

Product Identify: Ownwell

Product Description: Ownwell is a service that can protest your property tax evaluation and try to get it lowered. They may also search for different reductions and applications which will decrease your tax legal responsibility. They work on a “savings-or-free” mannequin, which suggests you solely pay them in the event that they scale back your taxes.

About Ownwell

Ownwell was based in 2020 with the aim of bringing subtle actual property instruments to unusual owners. They declare to save lots of, on common, $1,430 yearly and look to do 400,000-500,000 protests in 2024.

Execs

Straightforward to make use of
Free if not profitable
Common annual financial savings of $1,430
Steady monitoring for exemptions

Cons

Solely obtainable in California, Florida, Georgia, Illinois, New York, Texas, and Washington

How a lot are your property taxes?

In our county in Maryland, we pay a complete of $1.442 per $100 of assessed worth.

1.442% doesn’t sound like quite a bit, however the median residence value in my county is round $580,000.

That’s $8,400 a 12 months.

After I obtained my property tax evaluation final 12 months, it included a major enhance in assessed worth. We renovated a bit of the home, so a part of that was justified, nevertheless it appeared just like the leap was too excessive.

I made a decision to contest my property taxes myself and received. The method, which you’ll examine within the linked article, took a number of hours unfold throughout a number of weeks. And I used to be “fortunate” in that I used to be given a very good outcome on the first stage (simply filling out a kind), so I accepted it.

In the event that they rejected my declare and required me to plead my case to a dwell panel, I’m undecided I’d be as snug doing that.

Happily, there are providers on the market that can do it for you.

A kind of known as Ownwell.

At A Look

• Ownwell will attraction your property taxes in your behalf
• Screens for tax exemptions based mostly in your particular person property
• No upfront charges – pay solely upon profitable discount of property taxes
• Pay 25% or 35% of financial savings, relying in your state
• Obtainable in California, Florida, Georgia, Illinois, New York, Texas, and Washington. (however increasing on a regular basis so verify your state)
• Common financial savings is $1,148

Who Ought to Use Ownwell

Owners and Actual Property traders who need to guarantee they aren’t overpaying their property taxes ought to contemplate Ownwell. They’ll attraction your property taxes for no upfront prices and also you pay a share of your financial savings in case your attraction is profitable. So there isn’t a danger and no leg give you the results you want.

Who Is Ownwell?

Ownwell is a service that can contest your property tax assessments along with your taxing authority so you’ll be able to pay much less in property taxes. They may also discover exemptions and different tax financial savings you might not learn about or have missed.

Ownwell was based by Colton Tempo and Joseph Noor in 2020. Tempo’s background in investing and asset administration gave him publicity to the varied instruments utilized by actual property traders, and he needed to deliver them to common owners. The result’s Ownwell, a service to contest property taxes.

Ownwell doesn’t function in each state (but).

In Which States Does Ownwell Function?

Ownwell isn’t in each state and for a number of the states they do function in, they aren’t in each single county.

As of Could 2025, they’re in California, Florida, Georgia, Illinois, New York, Texas, and Washington. You need to double verify that your county is included (it’s not possible to listing each county right here although, California has 58 counties and Texas as 254!).

They’re including counties on a regular basis, so one of the best ways to know is to go to Ownwell and enter your handle.

When Can I Enchantment My Property Taxes?

The schedule for when you’ll be able to attraction will rely in your state and, in some instances, the county inside that state. They’re all on totally different schedules.

For instance, in Maryland, this course of solely occurs as soon as each three years. In New York, and plenty of different states, it occurs each single 12 months!

I requested Ownwell to supply a schedule (and so they did) nevertheless it’s a bit of sophisticated and laborious to share on a single display… additionally, many dates are county particular and so they cowl so many counties that it’s unwieldly to listing all of it right here.

The top result’s that the best factor to do is join Ownwell after which wait in your evaluation to reach. Then, enter within the particulars and determine whether or not it’s best to use them to contest your appraisal.

As there’s no value to enroll, you need to use their expertise that can assist you handle the schedule and determine later if you wish to use them.

How Does Ownwell Work?

First, go to Ownwell and enter your handle.

Since they don’t function in Maryland, I selected a random property in Humble, TX (a suburb of Houston). They service Harris County.

Go to Ownwell

It is probably not price it for a home-owner to be taught the ins and outs of protesting property tax assessments for $473, particularly if it’s not a assure you’ll get any discount. But when I owned this residence and didn’t need to do it, I’d be completely pleased hiring somebody on a contingency foundation (I pay provided that they win) – which is how Ownwell works (extra on charges later).

In case you proceed, you’ll be prompted to enter your data. (I’m utilizing a demo account, if you happen to do that your self, enter your data)

The following few screens affirm data, like whether or not you bought this property within the final 18 months and the property proprietor’s identify.

The final web page, after you’ve confirmed all the small print, authorizes Ownwell to behave as your Tax Agent. This lets them contact the taxing authority in your behalf and contest your property taxes.

From right here, you’ll be able to log in and verify the progress of your protest.

I consider Texas publishes them in April, after which you’ve gotten 30 days to protest.

This may fluctuate from state to state and in Texas, you’ll be able to(and will) do that each single 12 months.

Go to Ownwell

Discovering Exemptions and Claiming Refunds

Along with contesting your evaluation this 12 months, they provide a service to find out whether or not you’re eligible for any tax exemptions. In the event that they discover any, they’ll even make claims on earlier years to get a tax refund.

There are loads of totally different tax exemptions on the market and these are difficult to maintain observe of. For instance, right here in Maryland, we’ve got an Agricultural Use Evaluation that considerably lowers property taxes on areas the place you’ve gotten agreed to maintain to agricultural use. I solely knew about it as a result of the earlier proprietor had it.

We don’t develop something (business) on the land, it’s all wooded, however that counts. The one requirement is that we get an arborist to certify an agricultural use plan each few years, and we get a large low cost on the assessed worth of the undeveloped land. It has saved us hundreds of {dollars} a 12 months.

Ownwell seems to be for exemptions like that.

Then, they may monitor your taxes annually to ensure all the things is appropriate. If, for no matter purpose, an exemption is left off, they’ll ensure that to repair it.

Is Ownwell Legit?

Ownwell is a reliable firm and what they provide is a service that’s widespread in locations with excessive property taxes and annual value determinations. In Texas, which has excessive property taxes and annual value determinations, there are loads of firms and attorneys that provide this service.

In doing a little analysis, I discovered this insightful remark from Reddit (it’s two years previous however nonetheless correct):

These firms are quite common the place I dwell (in Texas, which has very excessive property taxes).

They package deal up loads of them collectively and settle with the county appraisal district. Round right here they cost 40%-50%. They aren’t a rip-off to the person however they actually are at a special stage – one of many largest ones in Houston is run by a lawyer that was the county tax appraiser and is now a state senator. His firm is aware of how the sport is performed and income from it.

Personally I usually do my very own, nevertheless it takes a number of hours to place collectively a very good protest package deal and go in entrance of the appraisal board. I’ve usually received, primarily as a result of I do know what I’m doing and put in much more effort on my particular person property than the appraiser (who’s doing a whole bunch of them) does. I type of loved the final one as a result of I did so significantly better than the appraiser did earlier than the board. He didn’t have his proof collectively, and it was the top of the day and so they had been in a rush to finish the docket and dominated in my favor.

In case you don’t have time/don’t need to hassle/undecided how you can protest it’s price a shot.

As you’ll be taught beneath, Ownwell fees 25% in Texas (making it fairly a bit cheaper) and relying on how a lot they’ll save, they’ll additionally prevent a number of hours of labor (and an look in entrance of the appraisal board).

Ownwell Charges

Ownwell operates on successful payment mannequin – you solely pay them in the event that they win an attraction and decrease your property taxes. They solely cost you in case your ultimate property tax invoice is diminished and so they have a signed doc out of your taxing authority to show it.

In the event that they aren’t in a position to decrease it, you pay nothing.

In California, New York, and Florida, the success payment is 35%. It’s simply 25% all over the place else.

For the above instance, if Ownwell will get a $473 discount in property taxes, I’d pay them $118.25. I maintain $354.75.

How does this payment examine to different firms? You must analysis this in your personal state, as it’s going to fluctuate, however I discovered a tax agency in Texas that listed their pricing. On a single property, they charged 40% with a $149 minimal. For two-5 properties, it was 35% with no minimal. Solely 6+, it was 30%.

What are Ownwell Options?

The most important different is to name a neighborhood legislation agency that focuses on this identical sort of labor. There are many legislation corporations that provide this. At the moment, I’m not conscious of an organization that operates in a number of states.

The tradeoff with utilizing a neighborhood legislation agency has to do with value. They’re usually not going to have the ability to work with particular person owners and nonetheless be capable to cost a small success payment. They usually have minimal charges and can solely take your case in the event that they see it as being “price their time.” In a fast search myself, I discovered that corporations are very up entrance about this as a result of contesting value determinations is time intensive and so they don’t need to waste their time or yours.

As I discussed within the above part about charges, I discovered a tax agency that charged 40% payment with a $149 minimal. In Texas, Ownwell fees simply 25% with no minimal.

House Tax Defend is an instance of an organization that operates in Texas. They cost a $30 annual payment after which a 30% success payment on tax financial savings. You are able to do all the things on-line and so they additionally use expertise to streamline the method. In case you assume they’re just like Ownwell, you’re paying $30 a 12 months plus an additional 500 foundation factors in your financial savings.

Alternatively, you’ll be able to attain out to your actual property agent to see in the event that they might help. This might be depending on how pleasant and obtainable your agent is to any such assist. Some could do it without spending a dime, seeing it as part of their choices, whereas others received’t.

Is Ownwell Price It?

It relies on how a lot you worth your time and the way a lot of a return you anticipate to get. If I owned a house during which a protest was going to web me $500 and it’s one thing I’ve to do yearly, I’d extra extra more likely to pay Ownwell a 25-35% success payment to deal with all of it for me. With 4 children and a slew of different obligations, the ROI on my time simply isn’t there.

Additionally, the property tax evaluation course of varies from state to state. In Maryland, we solely must do it as soon as each three years and I had a private curiosity in studying the method (additionally, I used to be pleased after the primary spherical discount – the work will get significantly extra concerned after the primary spherical). I understand I’m a weirdo like that, most individuals don’t care and simply need to get monetary savings.

The one factor I do know is that it’s essential to contest your property tax evaluation. You might not win a discount, however it’s important to do it. These will increase will compound so it’s important to maintain the will increase as little as potential.

In case you aren’t going to do it your self, getting another person to do it’s higher than taking the rise.

Go to Ownwell

FAQs

Abstract

Ownwell is an organization that can attraction your property tax invoice in your behalf with no upfront charges. You’ll pay both 25% or 35% (relying in your state) of the financial savings they’ll get you. If they aren’t profitable at reducing your property tax invoice, then their providers are free.