By submitting the annual $100.00 initial fee, Client engages RES-Real Estate
Services (herein after referred to as “RES”), to represent Client in protesting
Client’s property taxes and Client agrees to pay RES a contingency fee equal to
25% of Client Estimated Tax Savings achieved by RES through administrative
hearings for the protested tax year. “Estimated Tax Savings” for a given
protested tax year are defined as follows: subtract Client property's final
assessed value for that year from its initial assessed value, then multiply the
difference by the previous year's total tax rate. The resulting number is the
Estimated Tax Savings used to calculate the contingency fee.
Sample Calculation: If the initial assessed value is $500,000, the final assessed
value achieved by RES is $450,000, and the prior year's tax rate is 2.5%, then
the Estimated Tax Savings are 2.5% of the $50,000 reduction, or $1,250. The fee
due to RES would be 25% of the Estimated Tax Savings, or $312.50, based on
the assumptions for this sample calculation. This is a sample calculation and not
a
fee.
Terms & Limitations: Client acknowledges that RES has given no assurances
regarding the outcome of any tax reduction. If Client fails to timely provide
information or documents to RES, RES shall have no claim against client for
damages. If RES fails to provide the services as listed herein, our liability for any
and all claims is limited to the amount of fees paid by Client for the tax year in
question on the property in question. Client is engaging RES as a contractor and
RES’s liability as a fiduciary is limited by the terms of this agreement. This
document represents the entire agreement between Client and RES. In making
this agreement, neither party has relied on any representation or agreement
that is not expressly stated in this agreement. This agreement can be amended
only by a written document signed by both parties. By engaging RES, Client
authorizes they will execute an Appointment of Agent for Client’s behalf. In
addition to the above services for hire, RES will, upon request, provide no-cost
assistance with obtaining, revising and renewing homestead exemptions.
Payment in full for services are due within fourteen (14) days of the date of RES'
invoice. Beginning fifteen (15) days after the invoice date, Client agree to pay
interest on the unpaid balance at a rate equal to the lesser of the maximum
lawful interest rate allowed by applicable Texas law or eighteen percent (18%)
per annum, compounded annually. Estimated Tax Savings are calculated for the
purpose of determining fees for services rendered in prior, current, and future
years by reference to assessed property values, without consideration of any
applicable tax exemptions (including but not limited to homestead or over sixtyfive
exemptions). If Client has been granted an over sixty-five exemption with
respect to Client property, RES will reduce its contingency fee for all future
services for that property to 15% of Client Estimated Tax Savings, as defined
above, upon receipt of proof of the exemption. If Client is an entity, then the
individual signing for Client represents that he or she is duly authorized and
empowered to enter into this agreement. This agreement supersedes all prior
agreements between Client and RES, and will remain in effect until canceled by
either party with a 30-day prior written notice. Client’s annual submission of the
$100.00 initial fee will serve to engage RES under the terms of this Service
Agreement.
Agreed & Accepted by Client and RES
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