Thursday, August 19, 2010

Bill proposed to close property-tax loophole | News-Gazette.com

 Illinois House Bill 6241 that should eliminate the confusion.

The bill creates the Manufactured Home Installation Act, which requires a manufactured home that's installed on private property and not located in a mobile home park, to be assessed and taxed as real property. And mobile homes located inside mobile home parks will continue to be taxed according to the Mobile Home Local Services Tax Act. But mobile, or manufactured, homes that are located outside mobile-home parks and not classified, assessed and taxed as real property prior to the new law taking effect will remain that way unless the home is sold, transferred or relocated.

Click on the following for more details:  Bill proposed to close property-tax loophole | News-Gazette.com

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