Ron, Home Buyer in Dallas, TX

Is it better to buy the land in a co op mobile home park or would it better to pay a monthly lot fee.?

Asked by Ron, Dallas, TX Mon Aug 18, 2008

The average lot fee is 400 - 600 per month with a annual increase of 3-4 % . I have heard that Florida is passing on there high taxs to the snowbirds and that it might be wiser to lease instead of buying . Are the taxs that high for mobil home lot that it would be cheaper to lease?

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Your taxes will be based on the assessed value of your land + improvements. This will be influenced by your purchase price. Under new tax laws just passed, as a nonresident your taxes would be capped at a 10% increase per year. At 400/mo rent would equate to $4800/year. Your total assessed value would have to be somewhere around $240,000 to pay that much in taxes.
0 votes Thank Flag Link Mon Aug 18, 2008
Good Afternoon Ron,

If you choose to lease you loose control, you live be someone elses rules and have no say. if you purchase at least you have a say and a vote. It is the same thing in a land lease as they pass the taxes onto you anyway.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Mon Aug 18, 2008
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