Posted by Steve W (WA) on February 26, 2002 at 13:43:22:
I am looking at a 1976 14x66 that is ~ $155 per year
Another is 3 years behind, 1984 14x66, and it owes over $900 including penalties.
Check with the County Assessor to get the tax parcel number, then give that number to the Treasurer for the numbers you seek
capital gains on Lonnie deals - Posted by PJ
Posted by PJ on February 25, 2002 at 19:51:19:
This question is for those among you who do business in Washington state: When you first started in mobile home investing, did you use a cash management system to help you pay the capital gains taxes? Also, how are WA state sales taxes figured into each deal? When does the buyer pay this tax?
sales tax - Posted by Steve W (WA)
Posted by Steve W (WA) on February 26, 2002 at 07:43:14:
In WA, buyer only pays 8.5% (ouch!) sales tax IF the MH will be moved. If you are leaving it in place, then the buyer pays 1.78% ($2 minimum) excise tax. This is physically done by getting the blank excise tax affidavit forms (and the supplementals for those “please, I will give it to you” deals) from your (or any) County Treasurer’s office. When you close the deal, get the seller’s name as Registered Owner, and signature on the form(s) as Grantor, and you fill out the rest for New Registered Owner and Legal Owner, sign as Grantee. Take this completed form to the Treasurer’s office, pay them the necessary percentage, and then take the completed Excise Tax Affidavit copies to the Licensing desk, with the signed over title, and that is your documentation for Title Transfer ($20.25). Don’t forget - you will not get what you need unless property taxes are paid up!
Good luck -
Re: capital gains on Lonnie deals - Posted by Charles
Posted by Charles on February 25, 2002 at 22:11:21:
http://www.creonline.com/mobilehomes/wwwboard4/messages/4427.html
http://www.creonline.com/mobilehomes/wwwboard4/messages/11280.html
Should help you to read these.
Re: Seller pays Excise Tax not buyer! - Posted by Sean (WA)
Posted by Sean (WA) on February 26, 2002 at 12:14:04:
Sorry to disagree with the earlier posts, however seller is responsible to pay excise tax in the amount of 1.78% if the home stays in the community not the buyer.you may want to call the DOL in Olympia to check this out for yourself 1-360-664-6466
Best of luck to you!
Sean (WA)
Re: sales tax - Posted by PJ
Posted by PJ on February 26, 2002 at 08:36:03:
And for mobile homes in the “Lonnie” range - what is the typical property tax?
oops - my bad (NT) - Posted by Steve W (WA)
Posted by Steve W (WA) on February 26, 2002 at 13:40:38:
.