|
Manufactured & Mobile Homes
Depreciation
Method
Prior
to Jan 01, 2000, Manufactured or Mobile Home Owners
were taxed using a method of depreciation and the full tax rate.
This
tax is not subject to H.B. 920 reduction factors.
In
this method, the sale price of the manufactured or mobile
home
is multiplied by either 95% for unfurnished homes, or 80% for furnished
homes. This amount is known as the depreciated value.
Every
year, an additional 5% depreciation is deducted from the 95%
or the 80% until it reaches 35%.
For
a furnished home purchased in 1999, the tax would be calculated
as follows:
Calculating
Tax Using the Depreciation Method
| Purchase
Price |
$56,
421 |
| Depreciation
% X |
80% |
| |
|
| Depreciation
Value |
$45,140 |
|
Assessed percentage X |
40% |
| |
|
| Assessed
Value |
$18,056 |
| *
Full tax rate X |
79.75 |
|
|
| 2000
Full Year Tax |
$1439.97 |
|
|
