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Median Income In. Hanover County, Virginia. The median property tax (also known as real estate tax) in Hanover County is $1,922.00 per year, based on a median home value of $281,600.00 and a median effective property tax rate of 0.68% of property value.
What is the correct way to depreciate mobile homes in West Virginia that is used as residential rental property. ANSWER. The BIDaWIZ Team's Answer: For federal tax purposes, generally you cannot elect the section 179 deduction for residential rental property such as for a mobile home park.However, there's an exception that allows a business to elect Section 179 treatment when the residential rental property is used for a trade or business.lso, are you looking to depreciate the mobile homes as a whole or are you going to be bifurcating the property and itemizing specific equipment? In terms of the depreciation life at the federal level, if you don't elect Section 179 treatment, residential rental property has a useful life of 27.5 years.