No muss.. No fuss... Our Fees are pretty simple.
We provide a NO COST GUARANTY:
"You will not be required to pay any fees, costs or expenses unless and until GrieveTax has obtained a reduction of the assessed value of your property."
ALL costs and expenses will be advanced by GrieveTax and we take the full responsibility for expenses if the assessed value is not reduced. That's pretty clear and concise.
If we are able to get your property assessed value reduced, our fee will be 40% percent of tax savings as a grievance services fees plus disbursements*.
The “tax savings” amount is calculated by multiplying the amount that the property’s total assessed value is reduced, by the tax rate for the tax-bill for the tax district(s) in which the property is located, prior to exemptions.
*Disbursements include any filing fee paid to the court; could include other minimal expenditures related to the grievance process, such as mailings and other reasonable costs. In certain circumstances and only upon prior approval from the client, the reasonable cost of an appraisal report will be added to the bill.
Let's assume that your Assessment is $500,000 which currently results in a $20,000 combined annual tax bill. If GrieveTax is successful and gets your Assessment reduced by 10% to $450,000, your annual tax bill will also get reduced from $20,000 to $18,000 thereby saving you $2,000 in the first year and every year thereafter.
Of the first year savings of $2,000 the fee you will have to pay to GrieveTax will be 40% which amounts to $800.00. GrieveTax only charges a fee for the savings in the first year, all subsequent years are yours to keep and benefit from.
If this was an income property and you are able to decrease your expenses by $2,000/year, this property could be worth $15,000-$20,000 more as an investment. So by reducing your Assessment you put $2,000/year more in your pocket an your property value increases by $20,000.