§ 4-19.09. Passthroughs of Property Tax Increases Pursuant to the Sale of a Park and/or Special Assessments.

A park owner may pass through property tax increases resulting from a reassessment of the park as a consequence of the sale of the park, provided that the purchaser of the park is not a member of the seller's immediate family or a surviving spouse. This section shall not authorize any passthrough that is not permitted under State law.

The amount of the property tax increase resulting from the sale of a park for the year in which the sale took place shall be computed by comparing the annual property tax for the property tax year (July 1st-June 30th) prior to the sale of the property with the property tax for the property tax year in which the transfer occurred. The amount of the property tax increase for subsequent years shall be computed by comparing the annual property tax for the property tax year (July 1st-June 30th) prior to the sale of the property with the property tax for the property tax year following the year in which the transfer occurred. The property tax comparisons pursuant to this section shall not take into account the portion of the property tax increase attributable to City-wide increase in assessed values, such as the two (2) percent annual increase that is ordinarily applied to all properties.

A park owner may pass through cost increases resulting from new types of property assessments.

The amount of the any property tax increase or cost increase resulting from a new type of property assessment shall be prorated on a monthly basis among all of the spaces in a park.

(Added by Ord. 3451-C.S., § 1, effective 10-4-07)