Illinois Property Tax Questions

mobile home university
1

Hey guys,

We are looking at a park in Illinois. I have heard and read that Illinois is not a good state to own a park bc of the property tax dilemma in Illinois. Does anyone have any guidance or thoughts on this? Is it ok to look at parks here?

Thanks

2

You just have to build the new tax amount and account for potential tax increases in your park evaluation/analysis model. If your rent is currently under market you may be able to recover any increase in taxes by raising the rent.

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