How we work in CT

Our services are rendered on a contingency fee basis and based upon a percentage of any real estate tax savings achieved from our appeals of your assessments, with an initial non-refundable retainer payable at the time of engagement for each assignment which may credited to any future contingent fee that may be earned.  The retainer fee is intended to cover our review of each individual property as we determine if there is a case worth bringing forward to appeal.   On occasion, the circumstances are such that an appeal is not advisable or economically practical, but you will be able to make that judgment on a property by property basis after we prepared our initial assessment for your consideration.  The retainer fee for commercial property is typically $1,000 non-refundable retainer per property.  This retainer is credited against the contingent fee of either:


Sample Fee Calculations:
If your total property assessment at the time of the appeal is based upon a Full Market Value estimate as of October 1, 2008 of $1,428,571, then the Assessment at that time is 70% of that figure or $1,000,000.  This is the baseline for our appeal.

If we successfully reduce the Assessment by $200,000, your revised Assessment would be $800,000.

Assuming a Tax or Mil Rate of 30.0 mils:
R.E. Taxes BEFORE the appeal would be $30,000/year  ($1,000,000 x 0.030)
R.E. Taxes AFTER the appeal would be $24,000/year ($800,000 x 0.030)

The SAVINGS to you is $6,000/year. 

The fee is a percentage of this tax savings:

Under Option 1:  THIRTY THREE & ONE THIRD PERCENT (33.33%) of the savings for 2 years, the fee would be the total of $2,000 the first year ($6000 saving x 33.33%) PLUS $2,000 the second year (This example assumes the tax rate did not increase.  If the tax rate increases, then the fee would be relative to any change in the mil rate as the fee is based upon the actual R.E. Tax in the applicable year).  the first payment due for the first year of savings would only be $1,000 – the balance of the $2,000 fee less the $1,000 retainer.

Under Option 2:  FIFTY PERCENT (50%) of the savings for ONE YEAR, the fee would be $3,000. The balance of the fee would be $2000 - the balance of the $3000 fee less the $1000 retainer.

The payment is calculated and due when the mil rate is set by the town in the first year and at the same time the following year.  This typically occurs in May.

Client, remains responsible for any out of pocket expenses that may occur . Client retains  discretion as to any out of pocket expenses with advance knowledge prior to incurring any such expenses.  Some typical expenses in commercial property assessment appeal may be legal fees to further the appeal in court, should one decide to avail themselves of that option; third party appraisal reporting, if likely to add value of to position better with negotiations, etc.