Rent or Buy moble home in senior park?

Rose Thomas
Both Buyer and Seller
97113

buying moble or manufactured home, should you own the land or rent in a senior park, do you pay tags or pay taxes?

Answers (2)
Christopher Wal...
Broker
92544

Rose, both can be the right choice depending on your specific needs. Tags or taxes? You can choose which one you would like. If you decide on tags, you will pay tax on the value of the home at the current tax rate and then pay renewals. When including on property taxes, you will pay 1% of the total value, minus homeowners exemption, each year. The choice depends on your personal situation. In most cases, choosing to include on the tax rolls, after deducting the property tax exemption, can be a better choice. I would contact your tax professional for more advice on which would be best for you. If you have more questions, feel free to contact us anytime.

Sun Oct 14 2007, 14:30
www.themlshu...
Broker
Roseville, CA
FIRST ANSWER

Hi Rose. Whether you want to buy in a park where you own the land or have some equity share or just buy the mobile and rent the space will most likely depend on your budget as those where you own the land are significantly more expensive. Although you won't pay space rent, you'll still pay some association fees for the upkeep and management.
You'll pay tags if the land is rented and property tax if you own the land.

Web Reference: http://www.theMLShub.com
Sun Oct 14 2007, 13:04

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