Commercial Letter of Engagement

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This letter of engagement confirms that we, Fair Assessments, LLC, (“Fair Assessments”) have been retained by you (the “Client”), to provide the property tax services (the “Services”) as set out below in connection with the property tax assessment to be appealed.

Scope of Services 

• Review the proposed residential assessment notices issued by the various Tax Assessors. During this process, we will review the subject property and market data to identify and develop opportunities for reduced property tax assessments.
• As appropriate, prepare and timely file protests, notices of appeal, or other documents necessary to challenge, either informally or formally, the property tax assessments.
• The appeal will be to the Board of Equalization. Fair Assessments will attend a Board of Equalization hearing on client's behalf provided the hearing date and time is provided in a timely manner. Services for superior court appeals are not provided under this agreement. 

Fees

Client will pay Fair Assessments an administrative fee of $395 and a performance fee of twenty five percent (25%) of the tax savings realized for tax year 2024 for real property consultation and representation services. The administrative fee is due upon engagement. Tax savings will be defined as the difference between the initial assessed value and the final assessed value multiplied by the most recently available tax rate then in effect after all appeals have been exhausted. Payment is due upon receipt of the taxing jurisdiction’s or appropriate appellate body’s notice of valuation change. In the event that the appeal results in a reduction that is phased in over multiple years, whether under contract or not, payment is due upon receipt of the taxing jurisdiction’s or appropriate appellate body’s notice of valuation change.

If any amounts payable here under are not paid within thirty (30) days of the due date, such amounts will accrue interest at a rate equal to the lesser of five percent (5%) per month or the highest interest rate allowed pursuant to O.C.G.A. §§ 7-4-2, 13-6-13. In the event that we are required to initiate a lawsuit or hire attorneys to collect any past due amounts, in addition to any other rights and remedies available to us, we will be entitled to reimbursement of our reasonable attorney’s fees at a rate of fifteen percent (15%) of all principal sums and interest outstanding as well as other costs of collection.

Term

This engagement will cover services related to the 2024 tax year, and will remain in effect until all services have been completed or ceased. 

Property Tax Consulting Work Product

Our work product will be based upon the information provided by and on behalf of you and the management of the Client. We assume no responsibility and make no representations with respect to the accuracy or completeness of any information provided by and on behalf of the Client management. Our work product may be based on information from third parties. We assume no responsibility and make no representations to the accuracy or completeness of any information from third party sources. There will usually be differences between estimated and actual results because events and circumstances frequently do not occur as expected, and those differences may be material.

Preservation of Confidential Information

Neither party will disclose to any third party without the prior written consent of the other party, any confidential information which is received from the other party for the purposes of providing or receiving Services, which, if disclosed in tangible form, is marked confidential, or if disclosed otherwise, is confirmed in writing as being confidential. . Notwithstanding the foregoing, either party will be entitled to disclose confidential information of the other (a) to our respective insurers or legal advisors, or (b) to a third party to the extent that this is required by any court of competent jurisdiction, or by a governmental or regulatory authority.

Other Terms and Provisions

The Client and Fair Assessments acknowledge that the Client may, in writing, add or delete locations during the course of this arrangement provided there is thirty days’ notice and that any filed but unsettled appeals of “deleted” property will be prosecuted by Fair Assessments through a formal Board hearing, if appropriate, and any and all fees due as a result of the Service will be paid by Client.

You accept and acknowledge that we have not made any warranties or guarantees, whether express or implied, with respect to the Services or the results that you may obtain as a result of the provision of the Services.

Except in the event of our willful misconduct or fraud, in no event will we be liable to you (or any person claiming through you) under this Letter of Engagement, under any legal theory, for any amount in excess of the total professional fees paid by you to us under this Letter of Engagement or any addendum to which the claim relates.

Client agrees that Fair Assessments has the authority to settle the appeal at any value deemed appropriate by Fair Assessments.

We reserve the right to use your name and a description of the nature of the Engagement in general marketing materials.

The Client agrees to forward any property tax correspondence from the taxing jurisdiction(s) to Fair Assessments in a timely manner. The Client acknowledges that Fair Assessments shall not be held responsible for any consequences arising from Fair Assessments’ non-receipt of taxing jurisdiction correspondence in a timely manner. 

Client agrees that the Terms of this Engagement Letter are to be interpreted pursuant to Georgia Law and that any dispute that arises as a result of Client’s engagement of Fair Assessments will be litigated in the courts of DeKalb County, Georgia at the option of Fair Assessments.

Confirmation of Terms of Engagement Letter to Provide Property Tax Consulting Services

Having read this Letter of Engagement from Fair Assessments, LLC, we acknowledge acceptance of and agree to engage Fair Assessments, LLC upon the terms of the same.