There’s a park in New York I like but property taxes are reported at about 3.7% of the assessed value according to the tax office. Seems steep. Does anyone know how the state of New York assesses an MHP? I know the approach varies widely from state to state. Any insight would be helpful. Thanks.
New York is not a non-disclosure state so they will likely go by comparable sales. More importantly, is the county this is in a non-disclosure county? I would just run your numbers as if your taxes will be based on the price you are paying. The best source for this information will be to call the county’s assessor though.
Call them an ask. Some municipalities are very helpful, others not so much.
New York State does not tax properties. It is within the purview of local governments like towns, villages and school districts to impose a tax.
If the population in the area is sparse you should expect a much higher tax in order to cover the various cost associated with running the local government.
Tax rates usually don’t impact the value of the park that much but lot rents do. You should therefore be more concerned with the rents
There is another drawback to NYS parks, they have to be registered with the DHCR, which translates into controls, controls and more controls
Best of luck to you