How to become a property tax consultant is something you probably haven’t lost sleep over lately but maybe you should Sales and Use Tax.
Why?
If you’ve been searching for an at home business you can operate part or full-time, one that offers the chance for high income and considerable free time, property tax consulting could well be the perfect ticket.
With that said, here are five more powerful reasons to consider this as an at home business opportunity.
1. The Demand for Property Tax Consultants is On the Rise
The real estate market in the United States has been in turmoil in recent years due to the mortgage lending crisis, bank failures and an economy moving in fits and starts. This turmoil in the markets means that it is increasingly common for properties to be incorrectly assessed by city, county and town property tax assessors.
Properties are supposed to be assessed according to their market value, but rapid changes in the market mean many property tax assessors are overwhelmed and unable to keep up with the changes in value. And that means huge numbers of property owners are unfairly paying more than their fair share of taxes.
As a consultant these incorrect property assessments are your bread and butter. The good news is there is no end to the work available to you.
2. You’ll Enjoy High Income Potential
Most consultants charge clients either a percentage of the tax money that they save on behalf of the client, an hourly rate, or some combination of the two. These fees can be quite substantial, especially as you begin representing commercial and industrial property owners. Their tax bills can run into high five and six figure ranges.
But even typical residential properties can represent large incomes to a property tax consultant. Typical fees are one-third of the tax savings per year, and very often the work you do on behalf of a client results in tax savings over multiple years.
3. You Can Quickly Become A True Expert
Such consulting isn’t difficult once you learn the basics of the real estate taxation system, how to research properties and present compelling arguments in favor of a tax reduction. In fact most people could represent themselves quite easily, but relatively few choose to do so. There are several high quality courses available that give all the training necessary to get started, and these can be completed in relatively short order.
It’s worth noting that unlike becoming a real estate broker or real estate attorney for instance, where formal certification standards exist, generally there are no such required certifications for becoming a property tax consultant.
4. You Are Truly Helping Others
As I mentioned, most people are reluctant to challenge their own taxation levels even when justified. But many will be happy to allow a consultant to handle it for them. And when that consultant is you, you can take a great deal of satisfaction knowing that you are truly helping others.
5. Very Low Start Up Costs
You likely already have everything you need to set up a home based consulting business. A computer, cell phone, somewhere to work at home, and the ability to learn some simple yet powerful new skills is really all you need to get started. That and the determination to finally build and operate an at home business you can be proud to call your own.
