ValueAppeal helps homeowners keep taxes in line

What: ValueAppeal, Seattle

Who: Charlie Walsh, 33, CEO and founder

Mission: Help homeowners so that they don't pay excessive property taxes that may result from high county assessment of their homes.

Employees: 10

Assess the assessor: Users enter their home address on ValueAppeal's website and receive a reading as to whether the county assessment exceeds the value of the house. If that's the case, the site leads the homeowner through preparation of an appeal.

Financials: Walsh said the company does not provide financial specifics, but expects profitability by the end of 2011. It charges users to prepare an appeal — a $99 fee with a money-back guarantee if the appeal is unsuccessful.

Savings plan: Walsh won't disclose how many customers the company has served so far, saying only the number is "in the hundreds," and they have saved an average $839 on their property tax bill.

Fan club: Counties are pressed for cash, and would presumably resist anything that would decrease their revenues. But Walsh said he has heard from county assessors who say the service decreases busywork. "Assessors get a high number of appeals that don't have a strong case and it clogs up the system," he said. "If everyone who wanted to challenge their property-tax bill used our service, there would be fewer frivolous appeals."

Tough market: With falling property values, there could be fewer people whose assessment is too high. But Walsh said 25 percent of homes in any given market are overvalued and result in a higher tax bill. "I wouldn't pour my heart and soul into this if I didn't think it was going to succeed," he said.

— Charles Bermant