2022 VEHICLE ASSESSMENT PROCEDURES
Procedures based on 2022 January Edition of J.D. Power Vehicle Values Book.
| Vehicle Year |
Assessment Value |
| 2002 & Older |
20% Depreciation of last year's value until reaching $225.00 |
| 2003- 2014 |
Clean loan value J.D. Power Older Car Guide |
| 2015 - 2022 |
Clean loan value J.D. Power Guide (If listed in J.D. Power Book) |
| 2020 |
85% MSRP if available (When loan values are not in J.D. Power Book) |
| 2021 |
90% MSRP if available (When loan values are not in J.D. Power Book) |
| 2022 |
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 |
| 2022 |
90% of cost |
| 2021 |
80% of cost |
| 2020 |
70% of cost |
| 2019 |
60% of cost |
| 2018 |
50% of cost |
| 2017 |
40% of cost |
| 2016 |
30% of cost |
| 2015 |
25% of cost |
| 2014 & 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