La. Admin. Code tit. 55, § III-355 - Valuation of Motor Vehicles for Purposes of Initial and Subsequent Registration on or after January 1, 1990
A.
Except in cases of damaged motor vehicles, donations, out-of-state transfers,
or low bills of sale, the value of the motor vehicle shall be determined by the
purchase price as indicated on the bill of sale or invoice.
B. In the case of donations, out-of-state
transfers, or low bills of sale, the value shall be determined and based upon
the full loan value contained in the most current N.A.D.A. Official
Used Car Guide, South-Western Edition (or its successor) as maintained
by the Office of Motor Vehicles. In the case of classic automobiles or other
automobiles of particular interest not included in the N.A.D.A.
Official Used Car Guide, South-Western Edition (or its successor), the
full loan value shall be determined by reference to the N.A.D.A.
Official Older Used Car Guide or the Value Guide to CARS of
Particular Interest. If the value of the motor vehicle cannot be
determined by reference to any of these three guide books, the actual value of
the motor vehicle shall be determined by the Office of Motor Vehicles based
upon such information supplied by the person seeking to register the vehicle
and such information that may be required from such person by the assistant
secretary or his designee.
C. The
valuation of a damaged motor vehicle shall be the value of the motor vehicle at
time of acquisition as determined pursuant to
§355. C.1 The following
must be presented to the Office of Motor Vehicles to establish an actual value
on such a vehicle of less than the full loan value:
1.
a. an
affidavit by the seller or transferor of the motor vehicle specifying in detail
the nature of damage to the vehicle and a written invoice from a bona fide
mechanic or repairman showing a detailed estimate of the cost of repair to said
vehicle. The assistant secretary or his designee may require additional
information or documentation to determine the value of the motor vehicle. Upon
review of all documentation and information, the assistant secretary or his
designee may add the proven damages to the sales price of the motor vehicle as
is reflected in the bill of sale submitted in connection with the application
to register the motor vehicle. If the total of the proven damages and the sales
price is within $1,000 of the full loan value as determined in
§355 B, the vehicle shall be valued
according to the sales price. If the total of the proven damages and the sales
price differs by more than $1,000 from the full loan value as determined in
§355 B, the value of the motor vehicle
shall be determined by deducting the proven damages from the full loan value as
determined in
§355 B;
b. upon a showing of good cause by the person
applying to register the damaged motor vehicle, the assistant secretary or his
designee may assign a value other than the value established pursuant to
§355. B The applicant
for registration shall provide the department with such documentation as is
necessary to justify this alternative valuation;
2. if the seller is a licensed new or used
motor vehicle dealer, then the dealer or an employee of such dealer shall
submit an affidavit specifying the nature of the damage and the sale price. The
assistant secretary or his designee may require additional information or
documentation to determine the value of the motor vehicle. Upon review of all
documentation and information, the assistant secretary or his designee shall
calculate the value of the motor vehicle in the same manner and under the same
conditions as provided in
§355. C 1
D. Motor vehicles, the ownership
of which is reacquired by the original owner within a period of two years from
date of original acquisition, shall be registered at the original value upon
renewal or registration by the original owner. Upon a showing of good cause by
the person seeking to register the motor vehicle, the assistant secretary of
the Office of Motor Vehicles may permit the vehicle to be valued as provided in
§355 B-C, as the case may be.
E. Additional documentation may be required
of any applicant for license or registration, including renewals, by the
assistant secretary of the Office of Motor Vehicles or his designee.
F. In the case of high mileage, the loan
value of the motor vehicle may be reduced according to the deduction contained
in the guide book depending on the model year, the type of motor vehicle, and
the amount of mileage set as excessive in the guide book.
G. In those instances when a federal or state
regulated lending institution or financial institution determines that the
motor vehicle has a loan value less than is indicated in the guide book, the
applicant for motor vehicle registration may submit a statement from the
lending institution or financial institution, signed by an officer of the
institution, stating the loan value assigned to the vehicle by the institution.
Such statement shall also contain a description of the vehicle including make,
model, model year, and vehicle identification number. Upon receipt of such
statement, the department may use the loan value contained in such statement
for purposes of calculating the tax.
Notes
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