Ownwell
Product Title: Ownwell
Product Description: Ownwell is a service that can protest your property tax evaluation and try to get it lowered. They can even search for different reductions and applications that 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 cut back your taxes.
About Ownwell
Ownwell was based in 2020 with the objective of bringing refined actual property instruments to atypical householders. They declare to save lots of, on common, $1,430 yearly and look to do 400,000-500,000 protests in 2024.
Professionals
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 rather a lot, however the median house worth in my county is round $580,000.
That’s $8,400 a yr.
After I obtained my property tax evaluation final yr, it included a major improve in assessed worth. We renovated a bit of the home, so a part of that was justified, but it surely appeared just like the bounce was too excessive.
I made a decision to contest my property taxes myself and received. The method, which you’ll be able to 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 great end result on the first stage (simply filling out a type), 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 unsure I’d be as snug doing that.
Luckily, there are companies on the market that can do it for you.
A type of known as Ownwell.
At A Look
- Ownwell will enchantment your property taxes in your behalf
- Screens for tax exemptions primarily based 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 test your state)
- Common financial savings is $1,148
Who Ought to Use Ownwell
Householders and Actual Property buyers who wish to guarantee they aren’t overpaying their property taxes ought to contemplate Ownwell. They’ll enchantment your property taxes for no upfront prices and also you pay a proportion of your financial savings in case your enchantment is profitable. So there isn’t a threat and no leg give you the results you want.
Desk of Contents
Who Is Ownwell?
Ownwell is a service that can contest your property tax assessments along with your taxing authority so you may pay much less in property taxes. They can even discover exemptions and different tax financial savings you might not find out about or have neglected.
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 buyers, and he needed to carry them to common householders. 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 among the states they do function in, they aren’t in each single county.
As of Might 2025, they’re in California, Florida, Georgia, Illinois, New York, Texas, and Washington. It’s important to double test 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 the easiest way to know is to go to Ownwell and enter your deal with.
When Can I Attraction My Property Taxes?
The schedule for when you may enchantment will rely in your state and, in some circumstances, the county inside that state. They’re all on completely 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 yr!
I requested Ownwell to supply a schedule (and so they did) but it surely’s somewhat difficult and exhausting 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 only factor to do is join Ownwell after which wait on 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 price to enroll, you should utilize their expertise that will help you handle the schedule and determine later if you wish to use them.
How Does Ownwell Work?
First, go to Ownwell and enter your deal with.
Since they don’t function in Maryland, I selected a random property in Humble, TX (a suburb of Houston). They service Harris County.
It will not be value it for a house 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 house and didn’t wish to do it, I’d be completely comfortable hiring somebody on a contingency foundation (I pay provided that they win) – which is how Ownwell works (extra on charges later).
In the event you proceed, you’ll be prompted to enter your data. (I’m utilizing a demo account, for those who 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 title.
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 may log in and test the progress of your protest.
I consider Texas publishes them in April, after which you may have 30 days to protest.
It will differ from state to state and in Texas, you may(and may) do that each single yr.
Discovering Exemptions and Claiming Refunds
Along with contesting your evaluation this yr, 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 will even make claims on earlier years to get a tax refund.
There are a number of completely different tax exemptions on the market and these are difficult to maintain monitor of. For instance, right here in Maryland, we’ve an Agricultural Use Evaluation that considerably lowers property taxes on areas the place you may have 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 (industrial) 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 big low cost on the assessed worth of the undeveloped land. It has saved us hundreds of {dollars} a yr.
Ownwell seems for exemptions like that.
Then, they’ll monitor your taxes every year to ensure every little thing is right. If, for no matter purpose, an exemption is left off, they’ll be sure that to repair it.
Is Ownwell Legit?
Ownwell is a professional 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 a number of corporations and legal professionals that provide this service.
In performing some analysis, I discovered this insightful remark from Reddit (it’s two years previous however nonetheless correct):
These corporations are quite common the place I dwell (in Texas, which has very excessive property taxes).
They package deal up a number 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 unique degree – 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 typically do my very own, but it surely takes a couple of hours to place collectively a great protest package deal and go in entrance of the appraisal board. I’ve typically 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 tons of 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 tip of the day and so they had been in a rush to finish the docket and dominated in my favor.
In the event you don’t have time/don’t wish to hassle/unsure find out how to protest it’s value a shot.
As you’ll be taught under, Ownwell costs 25% in Texas (making it fairly a bit cheaper) and relying on how a lot they will save, they will additionally prevent a number of hours of labor (and an look in entrance of the appraisal board).
Ownwell Charges
Ownwell operates on successful charge mannequin – you solely pay them in the event that they win an enchantment and decrease your property taxes. They solely cost you in case your ultimate property tax invoice is decreased and so they have a signed doc out of your taxing authority to show it.
In the event that they aren’t capable of decrease it, you pay nothing.
In California, New York, and Florida, the success charge 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 hold $354.75.
How does this charge examine to different corporations? You must analysis this on your personal state, as it would differ, 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 an area regulation agency that makes a speciality of this similar kind of labor. There are many regulation corporations that provide this. Right now, I’m not conscious of an organization that operates in a number of states.
The tradeoff with utilizing an area regulation agency has to do with price. They’re usually not going to have the ability to work with particular person householders and nonetheless have the ability to cost a small success charge. They typically have minimal charges and can solely take your case in the event that they see it as being “value 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 wish to waste their time or yours.
As I discussed within the above part about charges, I discovered a tax agency that charged 40% charge with a $149 minimal. In Texas, Ownwell costs simply 25% with no minimal.
House Tax Defend is an instance of an organization that operates in Texas. They cost a $30 annual charge after which a 30% success charge on tax financial savings. You are able to do every little thing on-line and so they additionally use expertise to streamline the method. In the event you assume they’re much like Ownwell, you’re paying $30 a yr plus an additional 500 foundation factors in your financial savings.
Alternatively, you may attain out to your actual property agent to see in the event that they may help. This might be depending on how pleasant and obtainable your agent is to this kind of assist. Some might do it totally free, seeing it as part of their choices, whereas others received’t.
Is Ownwell Value It?
It depends upon how a lot you worth your time and the way a lot of a return you anticipate to get. If I owned a house through which a protest was going to internet 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 charge to deal with all of it for me. With 4 children and a slew of different tasks, 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 need to do it as soon as each three years and I had a private curiosity in studying the method (additionally, I used to be comfortable after the primary spherical discount – the work will get significantly extra concerned after the primary spherical). I notice I’m a weirdo like that, most individuals don’t care and simply wish to get monetary savings.
The one factor I do know is that you could contest your property tax evaluation. You might not win a discount, however you need to do it. These will increase will compound so you need to hold the will increase as little as doable.
In the event you aren’t going to do it your self, getting another person to do it’s higher than taking the rise.
FAQs
Sure, Ownwell is a professional firm that can enchantment your property taxes for no upfront charge.
You completely can enchantment your property taxes by yourself. Assuming you may have the time an inclination to analysis and file the suitable paperwork. It took me a couple of hours of analysis, and I used to be profitable within the first enchantment.
Abstract
Ownwell is an organization that can enchantment 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 will get you. If they don’t seem to be profitable at reducing your property tax invoice, then their companies are free.