58.

1-3503 Subsection B
1..Methods of Valuing Property "may" differ among seperate Categories
AS LONG AS IT IS Uniform Within Each Category IS Consistent with the requirements of this "Section" Requirements of Section 3. Automobiles
Automobiles, except those described in subdivisions 7, 8 and 9 of this subsection and in subdivision A 8 of 58.1-3504, which shall be valued by means of a recognized pricing guide ELSE SKIP TO 7,8,9

Or if model/year isnt listed in pricing guide Use value based on Percentages Or value based on Percentages of "original cost". Requirements for using pricing guide. C.O.R may use all applicable adjustments in guide to determine value OR C.O.R shall use the base value specified in such guide which may be either average retail, wholesale, or in guide then long as uniformly applied within classifications of property. No model/year loan value, so Tax Payer may show proof of original cost to COR.

4. Trucks less than 2tons May use recognized pricing guide or... On the basis of percentage or percentage cost if no model/year 5. Trucks and other Vehicles except those in subdivision 4 and 6-10; Valued by means of recognized pricing guide or the lowest value in such guide... or A percentage or percentages of original cost. 6. Mobile Homes Which may be valued on the bases of square feet of living space OR ???? What? 7. Antique Motor Cars No method prescribed - skip to B 8. Taxicabs No method prescribed - skip to B 9. Handicap Vehicles Determined their actual market value if offered for sale on the open market. 10. Motorcycles Shall be valued by means of a recognized pricing guide Or a percentage or percentages of original cost. 11. Boats under 5tons Shall be valued by means of a recognized pricing guide or a percentage or percentages of original cost. 12. Boats over 5tons Shall be valued by means of a percentage or percentages of original cost. 13. Aircrafts Shall be valued by means of a recognized pricing guide Or a percentage or percentages of original cost. 14. Household Goods No Method prescribed - Skip to "B" 15. Tangible PP/Research Shall be valued by means of a percentage or percentages of original cost. 16. Programmable Computer Equip Shall be valued by means of a percentage or percentages of original cost to the taxpayer Or by such other method as may reasonably be expected to determine the actual fair market value. 17. All "other" PP used in business

58.1-3503 Subsection B
Shall be valued by means of a percentage or percentages of original cost 18. All "other PP No Method prescribe - Skip to "B" Exceptions in Subdivisions in Section A(3) - Except 7,8,9 A(5) - Except 4, (6-10) A(17) - Except 1-16 May reasonably leads to the determination of FMV NADA Guide Experts say Taxicabs can not be assessed using their guide Methodology Over-valued Taxicabs

Automobile(3) Taxicab(8) Must be applied uniformily among the category If the taxpayer does not supply proof of original cost, then the commissioner may select another method which establishes fair market value Commissioner of Revenue's Premise
Methods of Valuating "PP" may be identical among seperate categories.

Main Topic Question of Indentification

Automobile or Taxicab? Documentation? COR Methodology COR Letters Subtopic