Watermark Interview Series: David Seymour, Pay Only What You Owe
Pay Only What You Owe
An interview with David Seymour, Property Tax Assessment Reduction Specialist
With Georgia Ragsdale, CEO Watermark Financial, Inc.
Q: David, with the decline in property values, you must see the world as a place where literally everyone needs your services. Help me understand what you are able to do for homeowners.
A: I think it is important that all property owners realize that there is a way to save property tax dollars during a down cycle when real estate values are decreasing. While the government is quick to raise property taxes when home prices are booming, the Assessors’ Office rarely lowers assessment values when market prices fall. My firm specializes in working with the Assessors’ Office to renegotiate property assessment values on behalf of homeowners so that their taxes are based on current market conditions rather than based on the original assessment values established at the time of purchase.
Q: What is the time frame for property owners to realize their likely savings?
A: After and initial application and appeal are filed, the property owner should receive a refund within three to six months.
Q: Regarding commercial properties, please describe what kinds of declines you are seeing there? And do you take commercial properties through the same procedure as single family properties?
A: While the real estate decline in commercial properties initially was not as severe as with single family homes or condos, recently we are finding that more and more commercial properties are qualifying for a reduction in property taxes. The procedures for filing an appeal for a commercial property are similar to that of a single family residence, however, for commercial property far more market research and data is required to convince an appeal’s board that a lower tax assessment is justified.
Q: What can someone do to get started with you today if they know their property values have taken a hit?
A: The easiest way for your clients to start the process would be to contact me with the property address they believe is entitled to a reduction and as a courtesy to Watermark Financial I will provide your client with an initial review for free.
David Seymour is Red Flag Consulting Solutions’ founder and Chief Executive Analyst. David has succeeded in building businesses, increasing valuation and raising millions of investment dollars for start-ups, emerging and middle market companies. David is a licensed attorney in