SB 1139 - Current law requires assessors to use the trade-in value published in the October issue of the National Automobile Dealers' Association Official Used Car Guide to determine the true value in money of motor vehicles. This act provides that assessors shall use the current or two previous years October issue of such publication to determine the lowest true value. In the absence of a listing for a motor vehicle, recreational vehicle, or agricultural equipment, the assessor may use such information or publications which in the assessor's judgement will fairly estimate the lowest true value in money of such motor vehicle, recreational vehicle, or agricultural equipment.
This act contains an emergency clause.
This act is substantially similar to SCS/HB 2694 (2022)and to a provision in HCS/SCS/SB 908 (2022).
JOSH NORBERG