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BILL # HB 2263 |
TITLE: manufactured housing; assessment |
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SPONSOR: Somers |
STATUS: As Introduced |
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REQUESTED BY: House |
PREPARED BY: Hans Olofsson |
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FISCAL YEAR
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2002 |
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2003 |
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2004 |
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EXPENDITURES |
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General
Fund |
$-0- |
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$-0- |
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$-0- |
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This bill would authorize a
mobile home owner to change the status of his or her mobile home from personal
property to real property if the land the home is situated on is being leased
for at least 5 years. Under current law,
unless a mobile home is permanently affixed to land that is owned and for which
an affidavit of affixture has been filed, the home is assessed as personal
property.
Estimated Impact
This bill would have no
fiscal impact on the state General Fund.
This is because the legislation does not affect property valuation.
Currently, the county
assessors value all mobile homes the same regardless of whether they are
classified as real or personal property.
The values used by the assessors are derived from the mobile home
valuation schedules developed and published annually by the Department of
Revenue (DOR). Because the bill affects
mobile home classifications but not property valuations, there is no fiscal
impact.
It should also be noted that
mobile homes assessed as personal property are generally subject to higher
rates of mortgage financing than comparable homes assessed as real
property.
Local Government Impact
According to DOR and the
Maricopa and Pima County Assessor’s Offices, this bill would not have any
impact on the property valuation and taxation in local taxing
jurisdictions.
2/1/02