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Updated over 4 years ago,

User Stats

47
Posts
17
Votes
Veronica Ivy
  • Rental Property Investor
  • Charlotte, NC
17
Votes |
47
Posts

Property Tax Appeal on Manufactured Homes

Veronica Ivy
  • Rental Property Investor
  • Charlotte, NC
Posted

Hi everyone. I recently purchased and renovated 4 manufactured homes on land, with the final unit having a tenant move in Saturday. Three of the units are Section 8, and one isn't. 

My issue is with the property taxes: they're completely out of sync with neighboring units. For example, one of my units is $1166/yr for 2019 when its 2018 taxes were $115. It went from a $7000 appraised value to $63,000. The previous owner didn't do any upgrades or anything.

The thing is: I purchased it for $97.6k. So my concern is looking for a tax reappraisal would *increase* my taxes if they go off of sales comps.

Sales comps are in the $90k-120k range.

The unit is 1215sqft and comp sales are going for $95-110/sqft (yes, manufactured homes with land in the same neighborhood).

But all the surrounding houses are being taxed at the same $7000-8000 appraisal that this unit had prior to that absurd jump.

Any advice on how to argue for the reappraisal to go back to a level consistent with the surrounding units?

I did a number of repairs and renovations to the unit, and I bought it under market value, so an ARV bank appraisal would likely put it in the 110-125k range.

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