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Committee discusses vehicle valuation, JD Power reference and private-sale appeals
Summary
Members reviewed language in S.123 that names JD Power as the valuation source for used vehicles, debated a provision letting the commissioner set values for vehicles not in JD Power (notably older than 20 years), and heard concerns tied to private sales and a requested study.
Members of the Transportation Committee on April 30 reviewed proposed changes to how the state sets taxable values for used motor vehicles and debated whether the bill gives the DMV enough transparency and authority for vehicles not covered by JD Power values.
The bill replaces an older vehicle guide name with “JD Power values” and contains a sentence that would allow the commissioner to develop a process to determine value for vehicles that “do not have a clean trade in value in JD Power values.” Committee members and DMV staff said the clause is aimed at vehicles older than 20 model years, which JD Power does not publish.
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