TaxProper raises $2 million

TaxProper, the Y Combinator-backed startup helping homeowners save money on their property taxes, has raised $2 million in a round led by Khosla Ventures with participation from Global Founders Capital, Clocktower Ventures, and several angel investors.

Founded in 2019, TaxProper makes it easy for homeowners to appeal their property tax assessment by accurately valuing real estate and filing a property tax appeal if a home is overassessed. Homeowners enter their address and TaxProper’s algorithm looks at the assessments of similar homes in the surrounding area, looking at things like size, number of rooms, construction materials and other factors, and if the algorithm determines that a homeowner is paying more than their share, TaxProper generates the required paperwork and sends it off to the county.

The startup offers two different pricing models – homeowners can pay $149 (which is refundable in case their property isn’t overassessed) and keep 100% of the tax savings, or they can elect to pay 30% of their savings when the appeal is successful. On average, the company is seeing about $700 in customer savings.

TaxProper is led by Geoff Segal, a former actuarial statistician and research analyst at State Farm, and Thomas Dowling, previously municipal finance advisor for Chicago Mayor Lori Lightfoot.