Realtor.com® has announced a new integration with Ownwell, a property tax appeal service. Users on the site can now access Ownwell’s property tax monitoring and appeals services from Realtor.com’s My Home dashboard.
The integration comes as the cost of homeownership continues to skyrocket nationwide, with property taxes in particular putting a strain on homeowners, Realtor.com noted. Property taxes are the second largest costs associated with homeownership after a mortgage. A recent Ownwell survey found that 66% of U.S. homeowners who budgeted for property taxes this year said their tax bill was higher than what was budgeted for. Despite this rising cost, there is a lack of education around appeal resources. More than half (53%) of U.S. homeowners are unaware of their right to appeal their property tax assessment even though 40.5% of properties in the U.S. may be over assessed, according to the Realtor.com® Property Tax Report.
By combining industry expertise with innovative technology, Ownwell stated it handles the entire property tax appeal process for homeowners, with 86% of appeals resulting in successful reductions. Ownwell said it’s average customer saves approximately $1,100 per year, and it has reduced property tax assessments by more than $10 billion to date.
Through this integration Ownwell stated it is expanding its reach to help more homeowners reduce their property tax burden.
“We’re thrilled to partner with Realtor.com to make property tax savings more accessible to homeowners nationwide,” said Colton Pace, CEO of Ownwell. “Property taxes are a growing concern for millions of Americans, yet there’s limited awareness about available resources and ways to combat these rising costs. Realtor.com’s reach and trusted platform makes it the perfect partner to help us inform and ultimately reduce property taxes for more homeowners. This collaboration represents a major step forward in our mission to make real estate ownership costs more equitable and transparent.”
“We are excited to integrate Ownwell’s proven property tax savings service directly into the Realtor.com My Home dashboard and help our users navigate the home ownership journey with more ease,” said David Masters, Senior Director of Product at Realtor.com. “This is one more resource available to homeowners on Realtor.com so they can potentially save significant money on one of their largest annual home expenses, property taxes.”
For more information, visit https://www.realtor.com/.
