Tax assessment on a mobile home park
Can anyone tell me if the assessment on each mobile home in the park on leased land is increased due to individual improvements etc, will this cause the assessment of the parks taxes(park owners) to increase?
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#3 Mobile Home Park Investing Contributor
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- Scottsdale, AZ
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#3 Mobile Home Park Investing Contributor
- Specialist
- Scottsdale, AZ
@Debbi O. mobile homes in a park are considered vehicles and are taxed in a similar manner that vehicles are, primarily based on the age of the home. To draw a simple comparison, when you buy a brand new car the annual license tag fees are high, yet over time as the car ages those fees go down each year. If you upgrade your car with $20k of aftermarket upgrades, the fees would still go down each year.
The property taxes you pay on a mobile home park are limited to the park itself and have no bearing on the mobile homes in the park. However, if you own some of the mobile homes in the park, you will be responsible for the annual licensing tag fees on those homes, while any home owned by your resident will be their responsibility.
The only case where the value of the mobile home would impact taxes would be in the case where the property is not a mobile home park, rather a single parcel of land with a mobile home on it (a single family residence). In that case, the property taxes would include the value of the land and the home.