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Assessment Procedures
2023 VEHICLE ASSESSMENT PROCEDURES
Procedures based on the current year January Edition of J.D. Power Vehicle Values Book.
Vehicle Year | Assessment Value |
---|---|
2003 and Older | 20% Depreciation of last year's value until reaching $225 |
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 the original cost. The percentage will be the following by year purchased.
Year | 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 |
2019 | 25% of cost |
2015 and Older | 20% 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
- 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
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Commissioner of the Revenue
Physical Address
City Hall
114 North Broad Street
Salem, VA 24153
Mailing Address
P.O. Box 869
Salem, VA 24153
Phone: 540-375-3019Fax: 540-375-3048
Hours
Monday through Friday
8 am to 5 pm