MOBILE HOME PARKS
Total Tax Savings: $188,000
From 1994 through the year 2001, Protax LLC represented a large mobile home park in Los Angeles County that was built on top of an old landfill. The site burns methane gas around the clock and the estimated repair cost is far greater than the value of the property. Nevertheless, the property is allowed to operate and due to a shortage of available mobile home spaces in the area, the owner earns enough income that would warrant a substantial increase in the assessment on the property under normal valuation circumstances. However, the contamination clean-up costs carry with them a substantial liability to the owner, and it “stigmatizes” the future value of a property, hampering the ability of the owner to liquidate or get a loan on the property. As a result of our efforts, the owner has enjoyed a large income stream for the past seven years while paying only 60% (on average) of his previous tax liability.