Property Taxes?
Property Taxes?
I'm curious to hear how many manufactured home owners in parks pay property taxes. It seems unfair since we do not own the property.
Also, has anyone been reimbursed for fencing installed in a mobile home park?
Linda
Also, has anyone been reimbursed for fencing installed in a mobile home park?
Linda
Re: Property Taxes?
Linda......actually the property tax that is charged in lieu of DMV registration isn't as unfair as it may sound. In years past, prior to June 1980 (in California), mobile home owners were charged an annual registration fee (approximately 2% of the sale price on a new home). On top of this registration fee, every time a mobile home was re-sold, sales tax was added to the price. You can imagine how high mobile homes would be today if every time a home was re-sold an 8 1/4% sales tax (in Los Angeles county) would have been added. Since prices are quite high here already, averaging approximately $80,000+, if a home was sold just three times in a 10 year period the sales tax would increase the price quite a bit (over $20,000 would have had to be added during the 3 sales plus the annual registration fee). It wouldn't take long for prices to soar to heights that would be out of reach for many buyers. Under the law passed in 1980 a dealer must pay sales tax on 75% of the manufacturers wholesale invoice and sales tax on the retail amount of the exterior accessories. In most cases I think that the new way of paying sales tax is far better than the previous way. As far as being reimbursed for fencing in a mobile home park, having owned 3 mobile homes in past years and having been a dealer since 1980, I've never run across a situation where the park has reimbursed a tenant for fencing, but then again that is my experience and others may have experienced something different. Hope this has helped.
Re: Property Taxes?
Every state has its own way to tax home owners...Some call it a real estate property) tax...others call it an advelorum tax..still others call it a tag...but..politicians will get to your pocket..
The park does pay real estate tax...which of course you also pay by way of your rent...the higher the parks tax...the more rent you pay...
Big manufactured home parks can be large cash cows for local government...If you figure the total taxes collected by the acre...or person...the amount is usually the highest there is...
The park does pay real estate tax...which of course you also pay by way of your rent...the higher the parks tax...the more rent you pay...
Big manufactured home parks can be large cash cows for local government...If you figure the total taxes collected by the acre...or person...the amount is usually the highest there is...
Re: Property Taxes?
Cindy & RMurray,
Thanks for taking the time to explain. I had been under the impression that the park owner did not have to pay property taxes. I'm paying over $2,000 a year on a small lot that I rent. It's interesting to see how mobile/manufactured home real estate laws differ from foundation homes and other property.
It would be nice to see some legislation to provide reimbursement to renters who do expensive mandatory maintenance on their rented lots. I certainly won't mind if I end up living on this lot for 25 years, but for those who move in l year, there should be some reimbursement for their costs, pro-rata per their length fo stay, especially if owners can benefit from increasing rent because of the renters improvements.
Thanks again. I appreciate the input!
Linda
Thanks for taking the time to explain. I had been under the impression that the park owner did not have to pay property taxes. I'm paying over $2,000 a year on a small lot that I rent. It's interesting to see how mobile/manufactured home real estate laws differ from foundation homes and other property.
It would be nice to see some legislation to provide reimbursement to renters who do expensive mandatory maintenance on their rented lots. I certainly won't mind if I end up living on this lot for 25 years, but for those who move in l year, there should be some reimbursement for their costs, pro-rata per their length fo stay, especially if owners can benefit from increasing rent because of the renters improvements.
Thanks again. I appreciate the input!
Linda
Re: Property Taxes?
Worse part is in many states site built homes have homestead laws with lower taxes for home owners...Most states do not have this same benefit for manufactured homes...or apartment renters for that matter...as if the landlord actually pays the tax...naw..the resident always does..
Re: Property Taxes?
Most states DO NOT have homestead laws... that is unique to Florida and Texas
Re: Property Taxes?
Add Oklahoma and Louisiana to the list of states that have homestead exemption.
Who is online
Users browsing this forum: No registered users and 5 guests