- TaxProper, a company that helps consumers appeal the assessments around property taxes if they feel it is too high, announced it has raised $2 million in funding
TaxProper, a company that participated in the Y Combinator Summer 2019 batch, announced it has raised $2 million in funding according to TechCrunch. What does TaxProper do? The company helps consumers appeal the assessments around property taxes if they feel it is too high.
This round of funding was led by Khosla Ventures with participation from Global Founders Capital, Clocktower Ventures, and several angel investors. After you input your address, the TaxProper algorithm will look at similar homes in the area and compare sizes, number of rooms, and other specifications. And if the algorithm reports that you are paying more than you should, then it generates the paperwork and sends it to the county on your behalf. TaxProper only takes a few minutes on their end and it takes the county around 6-8 weeks to make changes.
TaxProper offers two pricing models: an up-front fee of $149 or 30% of the total first-year tax savings. And if your taxes cannot be lowered, then you do not have to pay or if the appeal gets denied. On average, the company is seeing about $700 in customer savings.
The two co-founders at TaxProper have experience in dealing with government and taxes. For example, Geoff Segal worked as an actuarial statistician and research analyst at State Farm. And Thomas Dowling worked as a municipal finance advisor for Chicago Mayor Lori Lightfoot.
Currently, TaxProper is available in certain areas. So far, it is available in Chicago and the surrounding areas of Cook County. In the next few months, TaxProper will be rolled out in New York and Texas.