Hi. I will be looking this weekend at a free MH in a park. I spoke to the park owner who said that there was about $1100 in what he called "property taxes" that were overdo.
Howb can there be "property taxes" on personal property? (The previous owner just skipped town)
Wouldn't property taxes be the owners resposnibility as he is the owner of the land/lot?
What could he have meant (he's togh to get ahold of)?
Also, what other liens could be involved? Water is paid by the park.
Tax Accountant from Lake Villa, Illinois
Could be referring to the lot rent. Usually the apportioned amount of property taxes for a mobile home are around 75-100 in my area(Chicagoland).
I recommend filling out your profile so people can see where you're to help chime in if they are located in your area.
Steven Hamilton II, Hamilton Tax and Accounting
E-Mail: [email protected]
Telephone: (224) 381-2660
-Steven the Tax Guy
Hamilton Tax and Accounting LLC
Real Estate Investor from Houston, Texas
Here in Texas, mobile homes do indeed have property taxes and you definitely want them paid up or the state won't transfer the title (called SOL in Texas).
In Nebraska they are called real estate taxes on real houses,,,mobile homes pay personal property taxes which is the same thing. Problem is they fail to collect them here.
So when a mobile owner in somebody elses court doesnt pay for several years no mandated by law, action by the sherrif occurs cause they say they are too busy.
Mobile becomes old and worthless and needs torn down,,,county thinks its as good as new and taxing heavy. Before it can be moved or torn down taxes have to be paid.
No mobile owner as they are gone in the wind...So city and county says mr. court owner you have to get rid of that dangerous old health hazzard or lose your license. So court owner gets to pay all back over charged taxes and pay to have house torn down and hauled to dump. Darn expensive!!!
Any ways to prevent this from happening??? Policing all tenants in a court to pay their taxes on time and as due would be a full time job. they get a sticker to put in window like a license plate sticker but few ever do so
so yes years of unpaid personal property taxes add up quickly when they add penalties and huge interest charges,,,and they do!!! Careful diligence needed on this point!!! AND court owners,,dont let them move one saying they will pay them next week,,,or YOU will!!!
Developer from Santa Clarita, California
This is a perfect opportunity for you to complete a Lonnie Deal. Having the ability to acquire a mobile home for just teh amount of the past due "personal property taxes" of $1k, you can tehn put another few thousand into the rehab, then sell on an owner carried note. Get $4k-$5k down payment (which returns your initial investment, then the balance of the buyer's purchase is received in monthly payments with interest. You just created mailbox money for the next 5-10 years!
make sure the home was made after 1976, otherwise, it will not be up to current code standards.
Will Barnard, Barnard Enterprises, Inc.
http://www.InvestorExperts.com - For all Southern California House Flippers, Agents, and Wholesalers