When a mobile or manufactured home (MH) is affixed to real estate, the MH unit still follows the personal property depreciation rate set by the Department of Revenue. The MH value is listed as a cost object with the original Factory List Price (FLP) as the baseline.
Here’s an example using a two-year-old double wide MH on a parcel with $24,000 in yard improvements (such as sheds and other fixtures) and a modeled land value of $45,000. FLP less depreciation is added to the land and yard improvements for the total parcel value.
Mobile homes that are not affixed as real property are valued based on their factory list price, depreciation, and guidelines from the Arizona Department of Revenue.