Palm Beach Mobile Home Park LLC that owns three separate parcels near and at The Park of Commerce, is the City of Lake Worth's top taxpayer. His property is worth $8,361,194.00 up from 2013 by over $300,000 a year.
The owner will pay a total of around $280,474 in taxes on his parcels. If this general obligation bond should pass, he will be paying an additional $26,254 a year, for 30 years, on the last issuance based on today's value. Of course the value will rise, so the estimate is askew. The calculator on the Lake Worth web site can't even calculate a property worth this much money.
At the moment, I have been told that the City of Lake Worth wants to take 40 feet of right away from him for their burning desire of having a Lake Worth 2020 promenade that is expected to have Royal palms planted down a medium strip, etc. I understand that the property owner is not the least bit happy with the monetary offer.
It's great to be cavalier with other people's money. Government has a way of doing that. Years ago, if the city wanted your property, it would strangle you with various code violations that would multiply daily if not paid. Eventually the city would confiscate the property. This new strategy is just to strangle you with taxes. This general obligation bond will assure that the rents will escalate on the 335 families or so who live in this mobile home park occupied by people who predominately live on fixed incomes. Living in a mobile home park is not affordable any longer when you consider not only the lot rent but water and sewer and all taxes are rising along with the highest insurance rates in the nation.
This is a business owner who does not take money from the government on affordable housing grants that offset his expenses but he does lease lots for those to park their mobile homes.
But on August 26, you can tell the City "no way" by voting AGAINST.
Didn't think Anyone paid or employed more than Wayne Akers Ford..............
ReplyDeleteShe was third
ReplyDeleteLow income housing only attracts blight and crime.
ReplyDeleteJust like trailer parks. Isn't that what you always say? Hopefully the taxes go up so much the guy has to sell the place and a new commercial business can move in that provides good paying jobs and pays higher taxes.
No, actually anonymous, I have never said that about trailer parks. We have one behind me on 6th Ave South that IS a menace however. Some of them are very nice and offer affordable housing but lot rents are not low anymore. The man who owns this land has owned it for years and now you want to kick him out and take his land? Sounds typical of bullies.
ReplyDeleteMaybe if the bond passes, taxes will go up so high that you have to sell your house, if anyone would even want to buy it. nice, huh?
So if my math serves me correctly, the owner, if the bond passes, would have to raise the lot rent for his 335 tenants $6.53 a month or $78.37 a year.
ReplyDeleteYes, when you consider all the other taxes and fees that are also going up, it may look small. But being a good businessman, he will pass that $6.53 per month or even round it up to $7.00 per month for each lot.