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A New Jersey-based company that owns mobile home parks and prefabricated residential communities in a dozen states will be Westmoreland County’s largest taxpayer in 2026.
New totals from the county’s tax assessment office reveal United Mobile Homes Properties Inc. has taken the top spot among local taxpayers, replacing the owners of Westmoreland Mall in Hempfield who for decades topped the list of property owners with the most valued assets.
According to the most recent figures, the company’s holdings in the county are assessed at more than $12.4 million, which translates to a market value of more than $140 million.
The company owns more...
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Yes, mobile home parks have risen in value every year for the past half-century while office building and shopping mall values have collapsed. I will never forget my first loan meeting on a mobile home park in which the banker told me “we don’t really want to lend on ugly things like trailer parks when we can lend on classy things like office buildings”. I guess everyone found out that ugly things with cash flow beat classy things with no tenants.