Tax Protest fees? (comparable sales, broker, closing)

[DMChicago]

What is the "normal" fees for a successful Tax Protest service?

I've talked to two and it's 50% of any savings.

TIA.

[austin-steve]

Originally Posted by DMChicago

What is the "normal" fees for a successful Tax Protest service?

I've talked to two and it's 50% of any savings.

TIA.

30% to 40% is what most charge.

Steve

[centralaustinite]

30% is what I have always heard is typical. I do it myself. Successful 3 times.

[fminogue]

I don't think you need to hire someone to do it for you. It is not that hard to do. You can usually get a Broker Price Opinion from a Realtor for a low cost (I don't charge for them), and then you simply fill out the paperwork. It certainly is not worth hiring someone to do.

[Trainwreck20]

Originally Posted by fminogue

I don't think you need to hire someone to do it for you. It is not that hard to do. You can usually get a Broker Price Opinion from a Realtor for a low cost (I don't charge for them), and then you simply fill out the paperwork. It certainly is not worth hiring someone to do.

Did the process (somewhat) successfully some years ago, and it required a couple hours of my time in getting comps together, and several more hours in travel and negotiating at the appraisal location on the far side of town. If I was to try to get a reduction now, I would definitely use a service - my taxes would likely not go down at all (due to being well up the HSE cap), but the baseline would potentially get lowered - all at no cost to me.

I did fill out the form, but it was rejected, iirc, which led to the face-to-face meeting. A simple broker opinions did mean squat at the time, you needed actual comps. Maybe that has changed.

[oldoak2000]

Originally Posted by DMChicago

What is the "normal" fees for a successful Tax Protest service?
I've talked to two and it's 50% of any savings.
TIA.

Only problem with paying the service , is that the county will try again to raise values next year, and the year after, and year after, again and again, till 'the computer' says that your property is 'in balance' per it's algorithm. So you'll be paying that 50% to service again next year , and the year after ... till you learn to do it yourself . . .

[janejanejanejanejane]

So for those making it seem to easy to protest your taxes on your own, the first year I protested with our closing docs and it was easy. The year after, I brought comps. They fought me. I went to formal protest. I lost.
I protested easily in the last city with lived in. I gave up here when I lost the formal protest. Ridiculous. I don't think it's as easy as you make it seem.

[FalconheadWest]

I don't know any companies that charge 50%. All the companies I'm aware of "only" charge 40%. If you found one that only charges 30%, please let me know who that is because I've never heard of that. If it's just an agent charging that, I'm not interested in that. The big protest companies that do bulk reductions charge 40%, but that means you're saving 60% instead of paying out 100%.

[fminogue]

Originally Posted by Trainwreck20

Did the process (somewhat) successfully some years ago, and it required a couple hours of my time in getting comps together, and several more hours in travel and negotiating at the appraisal location on the far side of town. If I was to try to get a reduction now, I would definitely use a service - my taxes would likely not go down at all (due to being well up the HSE cap), but the baseline would potentially get lowered - all at no cost to me.

I did fill out the form, but it was rejected, iirc, which led to the face-to-face meeting. A simple broker opinions did mean squat at the time, you needed actual comps. Maybe that has changed.

You're right, I should have made clear, that the Broker Price Opinion includes a list of comparable sales. I provide a comparable market analysis with recent sold data with my BPO. Thank you for your input, well caught!!

[JH6]

If you do the online tax protest, the computerized system will make you an instant "offer" on lowering your taxes, you can choose to accept that or decline it and request a hearing.

We just do that every year, and save a bit every year.