As the year comes to an end, signaling the beginning of another tax season, demand for the services of property tax experts rises geometrically. This is in response to the need for professional property tax reviews and knowledgeable allies to join taxpayers in seeing to it that they don’t end up spending an inordinate portion of their money on taxes.
More so, in cases where there are suspicions of overtaxing, experts come in to help protest the rate and get a reduction. While you are on the search for a consultant, here are some pitfalls to guard against, to ensure that you don’t expend even more of your resources on an ineffective service.
1. Hiring a rookie consultant with limited experience protesting taxes
Your choice of a consultant may well save or cost you hundreds to thousands of dollars in tax, thus, there should be little room for sentiments when hiring. Be sure to find out their track record with regards to how many taxes they have protested, and the number of successful appeals under their belt.
It is often helpful to enlist the services of property tax consultants who are vastly experienced both in residential and commercial taxes. This range of knowledge and expertise signifies the consultant’s level of commitment to the career, and with this, you can rest assured you’ve got competent hands on your case.
2. Hiring an expert that seems impatient in answering your questions
If they find your questions about their professional expertise offensive, that is a red flag. If your long list of property tax-related questions that have befuddled you as a property owner gets them impatient, then you should move on to find one who will take the time to break it down to you.
Misinformation has gotten many people inadvertently committing delinquency, or inadvertently sending out resources that should go into their savings to the local county. An expert’s demeanor in responding to your questions is your hint to how likely they will efficiently and effectively represent your cause in the long run.
3. Undercompensating your tax consultant
It is unwise to try to cut costs by underpaying hired experts. When negotiating fees with your prospective tax consultant, remember that what you give is what you get.
Meager compensations for services will leave the professional with little motivation to work hard at getting you the best possible reviews and services. At the same time, be alert and keep your business negotiation sense of keen. You don’t want your consultant cashing out excessively on your tax reduction.
4. Unclear terms of agreement with the expert
Although appealing for and successfully getting a market value reduction does help in getting a decrease in your property tax, it does not automatically translate to this decrease. Many experts charge for market value reductions, despite it sometimes having no effect in lowering your taxes.
There are, however, some property tax experts who are dedicated to seeing their clients’ property tax appeals successful before feeling entitled to a charge. It will be in your best interest to look out for these ones. And, yes, they do exist!