555-RICR-00-00-1. Methodology For Determining the Presumptive Value of Motor Vehicles Subject To Excise Tax of December 31, 2021 (version Adoption, 01/01/2017 to 01/01/2018)

TITLE 181–Rhode Island Vehicle Value Commission CHAPTER 10– RHODE ISLAND VEHICLE VALUE COMMISSION PART 1–METHODOLOGY FOR DETERMINING THE PRESUMPTIVE VALUE OF MOTOR VEHICLES SUBJECT TO EXCISE TAX AS OF DECEMBER 31, 2016. 1.1 Purpose A. The purpose of the methodology is to determine the value of motor vehicles using information concerning the make, model, type and year of manufacture to be used in the determination of the excise taxes of December 31, 2016 assessed by each of the cities and towns in Rhode Island 1.2 Authority A. Section 44-34-11(c)(1) of the General Laws of Rhode Island directs the Rhode Island Vehicle Value Commission to adopt by rule a methodology for determining the presumptive value of motor vehicles subject to the excise tax. 1.3 Methodology A. All motor vehicles identified as the 2017 model year shall be valued based upon 100% of the manufacturer’s suggested retail price as reflected in official motor vehicle guides such as that of the National Automobile Dealers Association (NADA) for New England. B. All motor vehicles identified as 2010 model year up to and including the 2016 model year shall be valued based upon 100% of their clean retail value as reported by the National Automobile Dealers Association (NADA) official used car guides. C. All Motor vehicles identified as 1998 model year up to and including the 2009 model year shall be valued based upon 100% of their clean retail value as reported by the National Automobile Dealers Association (NADA) Official Older Used Car Guide and 100% of their low value as reported by the National Automobile Dealers Association (NADA) Classic, Collectible, Exotic and Muscle Car Appraisal Guide to be published in January 2017. In the event of a conflict between the two guides above, the former shall prevail. D. All motor vehicles identified as the 1992 model year and older, whether or not the vehicle is an antique motor car as defined in Section 31-1-3(a) of the General Laws of Rhode Island shall be deemed to possess an average retail value of $500.00. E. All motor vehicles more than twenty five (25) years old on June 16, 1991 whether or not the same is an antique motor car as defined in Section 31-1-3(a) of the General Laws of Rhode Island shall be deemed to have an average retail value of $500.00 or its actual retail value whichever is less. F. All motor vehicles identified as the 1993 model year up to and including the 2016 model year that are classified as exotics, classic and or collectible shall be valued based upon 100% of their low retail value reported by the National Automobile Dealers Association (NADA) Classic, Collectible, Exotic and Muscle Car Appraisal Guide to be published in January 2017. G. All motor vehicles identified as the 2003 model year up to and including the 2016 model year that are classified as recreation vehicles shall be valued based upon 100% of their used retail value as reported by the National Automobile Dealers Association (NADA) Recreation Vehicle Appraisal guide to be published in January 2017. H. All motorcycles identified as 1998 model year up to and including the 2016 model year shall be valued based upon their average retail value as reported by the National Automobile Dealers Association (NADA) Motorcycle / Snowmobile / ATV / Personal Watercraft Appraisal Guide to be published in January of 2017. I. Those communities whose fiscal years are other than July 1 to June 30, may for the purpose of complying with section 44-34.1-1 of the Rhode Island General Laws, Excise Tax Phase Out, use the methodology adopted by the Rhode Island Vehicle Value Commission Rule 2015. 1.4 Severability A. If any section, term, or provision of this Regulation should be adjudged invalid for any reason, that judgment should not effect, impair, or invalidate any remaining sections, terms or provisions, which shall remain in full force and effect. ADOPTED: December 7, 2016 FILED: December 12, 2016 EFFECTIVE: January 1, 2017 CERTIFICATION I certify that this document was adopted as a Rule of Procedure by the Rhode Island Vehicle Value Commission on December 18, 2016 in Accordance with Sections 42- 35 and 44-34-11 of the General Laws of the State of Rhode Island. _____________________________ Linda Cwiek, Chairperson Rhode Island Vehicle Value Commission