The Hidden Benefits of Property Tax Appeals

Considering whether or not to go forward with a tax appeal? We want to talk to you about some of the obvious and not so obvious benefits of the process.  On the more apparent side, you, the homeowner or investor, get the possible cash on hand that comes with a refund. We agree that this is a considerable bonus, but there are also auxiliary benefits that may outshine those that are most obvious (a refund!).  

Besides a refund, next, of course, you get the continuous benefit of increased profits!  This second benefit outshines the first one by virtue of its longevity.  With your property tax appeal you also get a reduction in assessment.  This means you are paying out less money in property tax each year!  That difference can be described as an increase in profits.

The fact that your second benefit increases profits is an important distinction because of our third and possibly least obvious benefit. The increase in profits from your reduction in assessment has a direct impact on the real estate market! One dollar in additional cash flow roughly equates to $10 in market value.  That means that even if you don’t sell your property for the first decade after your appeal you will still match your profits in the sale.

Let’s say for example you save $5,000 in your assessment.  There is of course the initial refund for that money minus expenses and commission.  The following nine years you have that five thousand you don’t need to pay in taxes.  That equals $45,000 dollars you have profited over these years.   Let’s say you then decide to sell.  The five thousand dollars you have in increased profits now equates to $50,000 in increased value.  That means the assessment in which you saved five thousand dollars initially has turned into a $100,000 value.  A ten thousand dollar assessment would be $200,000.  The pattern continues so forth and so on.

So to sum, up appealing your property tax doesn’t just put money in your pocket one year, but saves you money across time! It also greatly increases your return on investment (ROI). And with AT-N taking care of your appeal’s process, there is no risk involved! So why wait? Start your appeal-now!

See below for more information on the appeals process:

https://www.irs.gov/government-entities/federal-state-local-governments/appeals-process

http://www.in.gov/dlgf/2508.htm

http://statelaws.findlaw.com/indiana-law/indiana-property-and-real-estate-laws.html

http://www.in.gov/dlgf/4932.htm

 

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