Personal Property Motor Vehicles

 

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According to KRS 132.485 a person who registers a vehicle with the county clerk is listing the vehicle with the PVA and is consenting to be valued "at a valuation determined from a standard manual prescribed by the Finance and Administration Cabinet (FAC) for valuing motor vehicles".

As stated in the Kentucky Revised Statutes, the owner of a vehicle as of the assessment date January 1 shall be liable for the property tax on that vehicle in the county of registration as of the assessment date. Tax liability remains with the January 1 owner rather than the vehicle. In the event a vehicle was not located in the state of Kentucky on January 1, due to a transfer out-of-state or the vehicle was brought into state during that year, property taxes would not be collected until the following year.

The FAC, Department of Property Valuation uses the vehicle identification number, make, model and year to provide the PVA with a standardized valuation based on vehicles in average condition. The January 1 assessment is determined by using the trade-in value from the January issue of the NADA Appraisal Guides and procedures adopted by the FAC. The PVA has the authority to make necessary adjustments based upon guidelines provided by the FAC. If a vehicle has obviously depreciated at a greater than average rate due to collisions or excessive mileage, the taxpayer must protest the assessment in writing within forty-five (45) days from the date of notice to the FAC. This protest should include evidence such as documented mileage and/or cost to repair as of January 1 (KRS 131.110).

Furthermore, The Daviess County Property Valuation Office must adhere to the following policies:

  1. KRS 186A.335 states a vehicle which has lost 75% of its current
    Value must obtain a salvage title.
  2. If a vehicle was damaged, the PVA must have documentation from an insurance company or legitimate repair shop that lists the damage and the amount to repair the vehicle.
  3. If a vehicle is totaled but still has an active title; we must have a letter from the insurance company or a police report to document the information.
  4. A divorce agreement stating facts to who is responsible for the taxes must be presented in order to exonerate any taxes.
  5. The PVA employee must physically inspect and write the mileage on an exoneration form if we lower the value because of high mileage.