ValueAppeal Adds $1.6M

6/1/11Follow @curtwoodward

Seattle-based ValueAppeal, an online service that helps homeowners challenge their property tax bills, has added $1.6 million in financing. The startup had raised two rounds totaling about $1.5 million last year, mostly from angel investors.
ValueAppeal says the new money is mostly from existing investors, but they weren’t named. Founder and CEO Charlie Walsh says the fresh capital will be used for hiring, technology, and moving to a larger office.
ValueAppeal charges homeowners a flat $99 to use the service, and says it refunds the fee if a home-value appeal is unsuccessful. ValueAppeal says its figures show that about a quarter of U.S. homes are assessed at too high a value each year. That sales pitch is probably music to the ears of homeowners who have survived the worst housing market in decades.

Curt Woodward is a senior editor for Xconomy based in Boston. Email: cwoodward@xconomy.com Follow @curtwoodward

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