For many of the best property tax advisors in Atlanta, a contingency fee agreement with their clients is a win-win proposition. On one hand, the tax advisors can attract more clients to hire them for their professional services, such as winning assessment appeals. On the other hand, the clients can obtain tax reduction-related services, such as assessment appeals again, without incurring high initial costs.
But before signing a contingency fee agreement, you should first know its basics. Bear in mind that it’s a legal contract so both parties have rights and responsibilities. You will be in a better position to comply with your rights and responsibilities and demand the same of your property tax advisors.
A Special Payment Arrangement
Basically, a contingency fee arrangement is an agreement between two parties whereby the client can obtain the services of a professional representative without paying the fees up front at the start of the contract. The payment arrangement usually refers to the professional relationship between a plaintiff and a lawyer although there are also other applications.
For example, you can hire the services of the best property tax advisors in Atlanta – Fair Assessments comes to mind here –for filing a property assessment appeal with the county. Even if you don’t have the money to pay an upfront service fee, your case can be taken based on a contingent fee arrangement. You will find it to be a beneficial arrangement when you’re short on funds but still want to appeal your property assessment.
An Outcome-based Arrangement
You, the commercial property owner, typically have little to no upfront expenses upon hiring the property tax advisors. You don’t have to pay the fees unless and until you win, thus, encouraging the property tax advisors to adopt a winning approach. Your property tax advisors usually receive a percentage of the tax savings resulting from a winning appeal.
What happens when you lose the appeal? You’re not obligated to pay the property tax advisors until and unless the legal contract says otherwise. You can, for example, agree to pay them a minimum fee for the resources spent on your appeal.
What are the expenses associated with the appeal? You and your property tax advisors should also agree about who pays what during the appeal process. In general, your advisors will pay for the expenses of the appeal, such as the filing fees, which can be recovered after a winning appeal.
You should always read the terms and conditions of a contingency fee arrangement before signing it. You must remember that each property tax advisor will likely have different contract provisions so it pays to read, ask and revise, if necessary. You don’t want to fall prey to excessive fees that could have been avoided if only you had read the contract first.
Conclusion
While many of the best property tax advisors in Atlanta accept clients based on contingency fee arrangement, not all of them do. Several factors are considered, such as the type of property, the scope of the appeal, and the possible savings. Be sure to consider whether another type of fee payment, such as a fixed fee method, is more suitable for your case.
