Assessment Procedures

2024 VEHICLE ASSESSMENT PROCEDURES

Procedures based on the current year January Edition of J.D. Power Vehicle Values Book.

Vehicle Year
Assessment Value
2004 and Older
20% Depreciation of last year's value until reaching $225
2005 - 2016Clean loan value J.D. Power Older Car Guide
2017 - 2024Clean loan value J.D. Power Guide (If listed in J.D. Power Book)
202285% MSRP if available (When loan values are not in J.D. Power Book)
202390% MSRP if available (When loan values are not in J.D. Power Book)
202495% 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 the original cost. The percentage will be the following by year purchased.

Year
Assessment Value
202490% of cost
202380% of cost
202270% of cost
202160% of cost
202050% of cost
201940% of cost
201830% of cost
201725% of cost
2016 and Older20% Depreciation o last year's value until reaching $225


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
  • Aircraft: % of cost stated above
  • Motorcycles: J.D. Power rough trade-in value if available or % of cost, those out of the 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