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Posts Tagged ‘battle rages’

Battle Rages over Value of Manufactured Housing Communities

September 25th, 2013 Comments off

Following up on a post MHProNews last reported Sept. 3, 2013 regarding Equity LifeStyle Properties’ (NYSE:ELS) successful appeal of a sharp rise in taxes on two manufactured housing communities (MHCs) in Florida, over $200,000 in property taxes are once again at stake. Sarasota County Property Appraiser Bill Furst contends the value of Bay Indies in Venice has increased 23 percent over last year’s valuation to $47.3 million, while the value of Lake Village in Nokomis, FL rose 72 percent to $19.5 million. These are the same exact numbers he used last year that were denied. ELS has filed an appeal with the Value Adjustment Board, the same as last year. Tax increases are passed on to residents of the communities, resulting in the National Manufactured Home Owners Association (NMHOA) questioning the formula Furst used. According to heraldtribune.com, he is using the same methodology as before, sparking the same appeal from ELS. In April he sued ELS trying to force them to produce financial records for the two communities, but statutory law does not require it. In any case, residents will have to pay more if Furst succeeds in increasing the valuation.

(Photo credit: Equity LifeStyle Properties–Lake Haven MHC, Clearwater, FL)

U. S. Supreme Court may Hear Rent Control Challenge

June 7th, 2013 Comments off

The U. S. Ninth Circuit denial to rehear the Equity LifeStyle Properties (ELS) vs. City Of San Rafael ruling may lead to a battle in the U. S. Supreme Court. The court’s decision handed down in April establishing rent control in manufactured housing communities may embolden rent control advocates across the state, but the battle is far from over, according to Attorneys Hart, King & Coldren (HK&C). The April 13 three-judge panel decision had reversed a decision by District Court Judge Vaughn Walker, who ruled rent control unconstitutional. Whether ELS takes the review to the U. S. Supreme Court or not, as MHProNews has been informed, the future remains open to constitutional challenges whenever owners are denied rent increases. But while the battle rages, HK&C says “there continue to be opportunities to maximize property values through rent increase applications, subdivisions or closures. The pursuit of these opportunities may also help set the stage for successful taking claims.” .

(Image credit: photographersdirect)