We regret to inform you that your car is worth more
Read the following in your dad’s voice: A car depreciates in value as soon as you drive it off the lot.
Still true, dad. But in 2008, 26 autos and 2 trucks actually increased in value, according to the price guide published annually by the National Automobile Dealers Association.
This is good news for people trying to sell their cars, but not so great for paying personal property taxes.
Some of the vehicles on the list:
- 2001 Toyota Rav4s
- 2007 Toyota Yaris
- 2006-2008 Toyota Prius
- 2007 Mini Cooper
- 2007 Nissan Versa
- 2007 two-door coupe GT500 Ford Mustang
- 2007 and 2008 Honda Fit HBs
- 2008 BMW 328I, 328XI and 335XI.
Jackson County spokesman Jeph BurroughsScanlon tells The Pitch that to determine the personal property tax owed on a vehicle, the county assessor’s department takes the vehicle’s market value from the previous year and divides it by three. So if you own a 2008 four-door Honda Accord EX, whose value went up $110 last year, you owe Jackson County an additional $36.60.
Why did the value of some vehicles increase for ’08-’09? According to a source in the Jackson County Assessor’s Department, the public’s lack of desire to buy new cars has driven up the demand for used ones.
So congratulations to the driver of that slick 2000 BMW 335XI, your car is worth $1,390 more! Now, open your checkbook.
