Poll: Should The State Change How Cars Are Valued?
A bill sponsored by State Rep. Joseph M. McNamara (D-Warwick, Cranston) that would change the valuation process for cars is scheduled for a hearing tomorrow.
How much should you pay in taxes for your car? The Rhode Island House Committee on Municipal Government is scheduled to consider a bill tomorrow that would change the way cars are valued — potentially saving car owners thousands of dollars. Rep. Joseph M. McNamara (D-Warwick, Cranston) sponsored the bill, H-7098, in response to ongoing protests over the way car values are calculated under a 2010 state law. Currently, the state Vehicle Value Commission sets the worth of automobiles by using what's known as "clean retail value" — basically the current value of the vehicle if it were in perfect condition. McNamara's bill would require the commission to use the average trade-in price, which is typically lower than the clean retail value. Car …
Reality Check
8:05 pm on Thursday, January 19, 2012
My car is assessed for $11,250. I looked online and found similar cars listed for sale starting at $14,999 up to $17,999............I don't see a problem with the current system just the way it is. more ›