Determination of Fair Market Value of Vehicles

468-000-335

Cars, trucks, vans, motorcycles, recreational vehicles, motorboats, and planes are included in the category of motor vehicles. To determine the fair market value of vehicles, the worker must use the trade-in value as shown in either the Kelley Blue Book or the National Auto Dealers Association (NADA) Used Car Guide.

Both of these sources are available online. The website for Kelley Blue Book is http://www.kbb.com and for NADA is http://www.nada.com.

If the vehicle is not listed on either the Kelley Blue Book or the NADA websites, or if the client or the worker feels the value listed on these websites are inappropriate or not a true valuation of the vehicle, the worker may:

1. Contact the county assessor's office for the assessed value;
2. Use the client's most recent vehicle tax statement; or
3. Have the client obtain the vehicle's value from used car dealers.

The value of one motor vehicle used for medical or employment-related transportation is disregarded.

{9/15/2001}