PVA: Pandemic causes valuation of motor vehicles to rise, some taxes to increase
BOWLING GREEN, Ky. (WBKO) - Just like a lot of things revolving around taxes, assessments of motor vehicles are showing rising prices.
Officials said this is due to the chip shortage and the pandemic. It is all about supply and demand. While the supply is down and the demand is still there, therefore, values increase.
Warren County Property Valuation Administrator, Susan Oliver Lewis, said they can check the value of your car. If you don’t agree with the valuation, you can contest that value.
“If your vehicle is not at clean trade in, let’s say it has damage from the tornado, we would just need a quote from the insurance,” said Susan Oliver Lewis, Warren County PVA. “Not the insurance, maybe the insurance saying how much it would cost to repair but a quote from a mechanic or a dealer saying how much it would cost to repair or how much you could sell it for.”
They will look at National Automobile Dealers Association and compare prices. She said that normally if it has increased, it is likely because you have higher mileage than the typical vehicle. If your vehicle has been damaged or you feel like the condition is not that of clean trade, Lewis said to have your mechanic or a dealership write you a quote.
“We’re so close to the first of January, just kind of look at your odometer, and guess what it was January one, make a note for yourself,” said Lewis. “You can call us at any time and we can check your value.”
Lewis said a lot of times insurance will take a damaged vehicle and the PVA is never told, so owners will still receive a tax bill, unless somebody contacts them or unless the title is junked. If your car has been damaged by the tornado, or in a wreck, let Lewis know.
“If anybody has any questions, give us a call,” encourages Lewis. “We are here for the taxpayers. We’re here to answer questions. We know it’s confusing and it’s overwhelming. Because remember, not every vehicle is going up 40%.”
You can call the PVA at 270-843-3268.
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