2023 VEHICLE ASSESSMENT PROCEDURES
Procedures based on current year January Edition of J.D. Power Vehicle Values Book.
| Vehicle Year
|
Assessment Value
|
| 2003 & Older
|
20% Depreciation of last year's value until reaching $225.00
|
| 2004- 2015
|
Clean loan value J.D. Power Older Car Guide
|
| 2016 - 2023
|
Clean loan value J.D. Power Guide (If listed in J.D. Power Book)
|
| 2021
|
85% MSRP if available (When loan values are not in J.D. Power Book)
|
| 2022
|
90% MSRP if available (When loan values are not in J.D. Power Book)
|
| 2023
|
95% MSRP if available (When loan values are not in J.D. Power Book)
|
NEW OR USED VEHICLES NOT IN J.D. POWER, OLDER VEHICLES, ANTIQUE VEHICLES, RECONSTRUCTED VEHICLES, AND TRUCKS WITH A HIGH GW, USE A PERCENTAGE OF ORIGINAL COST. THE PERCENTAGE WILL BE THE FOLLOWING BY YEAR PURCHASED.
| Year Purchased
|
Assessment Value
|
| 2023
|
90% of cost
|
| 2022
|
80% of cost
|
| 2021
|
70% of cost
|
| 2020
|
60% of cost
|
| 2019
|
50% of cost
|
| 2018
|
40% of cost
|
| 2017
|
30% of cost
|
| 2016
|
25% of cost
|
| 2015 & Older
|
20% Depreciation of last year's value until reaching $225.00
|
MISCELLANEOUS VEHICLES
- Utility, boat, horse trailers: % of cost stated above
- Boats and Boat Motors (combined): % of cost stated above
- Motor Homes; Conversion Vans: % of cost stated above
- Camper Trailers: % of cost stated above
- Motorcycles: J.D. Power rough trade-in value if available or % of cost, those out of book, use % of cost then reduce by 20% each year until reaching $225
Mobile homes are assessed by the Wingate Appraisal Guide. The year it drops out of Wingate, it is reduced by 20% of the previous year’s assessment until it reaches the minimum.
- Single section minimum is $1200
- Multi section minimum is $2400