Why did the real market value on my manufactured home increase? Don’t manufactured homes depreciate?

Each year the Sherman County Assessor’s Office is required to conduct a ratio study to establish real market value on all properties within the county. If the sales analysis shows an increase in sales prices for manufactured structures, then it is likely the real market value for manufactured structures will increase. If the analysis shows that there was a decrease in sales prices for manufactured structures then the real market value for manufactured structures are likely to decrease.

What is an exempt manufactured home?

A manufactured home is considered personal property. If you own the manufactured structure and the land that it sits on your home can be recorded in the county deed records as real property which means it is “exempted” from the ownership document and is no longer personal property.

What if I am no longer in business?

If you were still in business on the assessment date, January 1, you will need to file a return and indicate on your asset listing the equipment that was still in use at your business on January 1.

If you went out of business prior to January 1, you will use your return to report to the Assessor’s office the disposition of your business Personal Property. The section “No Personal Property to Report” on the front of the return is designed for that purpose. Check the box “Business closed” and provide the date closed.  Let us know the status of the property on January 1, whether it has been sold, stored or converted to personal use.

If you sold your business prior to January 1, please file a return to notify our office of the change in ownership. Check the box “Business sold” and indicate the date sold and provide the name and mailing address of the new owner, along with your instructions as to whether or not we have your permission to forward the current asset list to the new owner.