I just got my personal property tax assessment for the period of 9/30(my delivery date)-12/31.

I know that the assessed value of a piece of property is usually a little under its market value, but I was a bit surprised by Fairfax Co. assessment of $24,500 for my Z which had a MSRP of 35K.


A bargain when paying the tax bill, but I was wondering if this is what figure is used when determining the value of the car if it is damaged to the point of being "totalled".

Comments?

VG

 

Hey,

When I got my personal Property Tax on my 01 Eclipse I noticed that it was assessed at $20,000. I called to complain since I know I would never be able to sell it for that amount. The lady that I spoke to stated that this is amount of money that I would be able to borrow using the car as collateral. I am not in banking but, it sound like the bank would get the short end of the stick. If any one is in the know about this I would be greatful for a clearer explaination.

Rob

 

Got mine.
350Z 8/30 - 12/31... 380.04 - 213.25 = 166.79
Assessed Value 24,950
Purchase Price 34,500 (approx)


Ford SportTrac 8/28 - 12/31... 318.50 - 213.25 = 105.25
Assessed Value 20,910
Purchase Price 24,500 (approx)


Whatever scale they use, it doesn't seem consistent.